- #1
Physics_UG
Gold Member
- 288
- 2
I owe $4700 on my car and need to get rid of the payments so I am selling it and getting something cheaper with the difference between what I owe on my current car and what I am selling for. I obviously don't have the money to pay off the lien.
I am selling for ~$8000. How do I go about this while keeping both parties in the sale worry free?
Do I take the full amount ($8000), pay off the lien, and then send the lien release documents with title to the buyer? Or do I have just take what is owed on the car from the buyer and then after the lien is paid off take the rest of the money.
It is confusing to sell a car with a lien on it.
I am selling for ~$8000. How do I go about this while keeping both parties in the sale worry free?
Do I take the full amount ($8000), pay off the lien, and then send the lien release documents with title to the buyer? Or do I have just take what is owed on the car from the buyer and then after the lien is paid off take the rest of the money.
It is confusing to sell a car with a lien on it.