How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the

I have a 2006 Odyssey that I want to sell. But the problem is that I do not have the title as the title is with the bank. How do I sell it to a private party?

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

Once you have a buyer arranged, they will then in turn payoff the loan amount to the bank, if there is an over paymount amount that comnes back to you after the loan is paid off. The bank will handle everything with the title, the new buyer and you will have to fill out dmv forms, and the new owner will have to take title to the dmv once it is given by the bank which could take 3-7 days

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

The bank does not own the car. You own the car, and you owe the bank money. Just sell the car, and use the money to pay off the loan.

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

You could have the prospective buyer accompany you to the bank and assume the remaining portion of the loan. It%26#039;s not at all uncommon.

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

You need to pay off the loan so that the bank will release the title or another option is for the private party to give you the money(or get a loan) to buy the title from your bank. Also a third option would be for both you and the private party go to your bank that holds the title and have the title switched over to the private party in which they would then take over the payments and vehicle. Good Luck

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

You are the owner of the car and the car is registered to you, you should not sell the car away without having the ownership transferred to the new owner, otherwise you could be in trouble if the new owner commits an offence or break the law and the car is trace back to you. You should tell the buyer that he/she could either opt to take over your loan (depends whether your bankers will agree or not) or pay cash to you so that you can pay off your bankers and the bank will release the title. You should see your bankers and find out more, in most cases banks allow the owner to take the title by signing a undertaking note.

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

Being that it%26#039;s a 2006, you most likely owe more than it%26#039;s worth, unless you put $10k downpayment or something.

You%26#039;ll be hard pressed to find any buyer willing to buy a vehicle with a lien.

The buyer would have to pay you upfront then you pay the bank to get the title released. But like I said most buyers will not do this because what if you take the money and go to Vegas instead of paying it off?

The best way is to trade it in for a very cheap used car..... or have a payment sale, where the buyer takes over your contract and makes the payments. You will probably have to offer a cash incentive.... like $2000 or more (depending on how upside down you are). The buyer then submits a credit application to your bank and if approved, they legally become the debtor, releasing you of any obligations.

How do you sell a car to a private party if you still have loan on the car (i.e. you do not have the title)?

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