Selling a financed vehicle?

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  • Nail Gun

    Blissfully Ignorant
    Rating - 97.4%
    38   1   0
    Aug 18, 2010
    846
    18
    Slidell
    I considering selling my Toyota Tundra since I have a company vehicle. Unfortunately it's not free and clear. It looks like the payoff is about what the Blue Book Value is. Is there a process where I can sell it to a private individual? I know a potential buyer may have concerns over me actually getting the title to them after it's paid off...
     

    LNSvince

    Well-Known Member
    Rating - 100%
    79   0   0
    May 10, 2011
    1,499
    38
    Denham springs
    When you sell it, [ if the person pays cash ] you will use the Bank that holds the title as your notary. Then go to the state to register.
    If the buyer needs to finance it, either [a] ask the same bank to finance for them [ provided their credit is good ] or the buyers bank will contact your bank for transfer of lean / title.


    Its not hard to do.


    Vince
     
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