Selling a car with a lien on it

10

Asked by Oct 08, 2016 at 09:38 AM about the 2010 Ford Mustang GT Premium

Question type: General

I am in the position of needing to sell my car but I have a lein on it and need
the purchase to close the lien.  How can I do this?

3 Answers

35

You have to pay the lien off first to get the title as you know. I sold a car like that and the buyer wrote me 2 checks, one to pay the lien off made out to the lien holder and the balance to me. I paid the car off then and had to wait a few weeks for the title, or if their local just go there directly to pay it off.

3 out of 3 people think this is helpful.
10

Thank you for your answer it was very helpful

1 out of 1 people think this is helpful.
64,995

To make a prospective buyer more comfortable you can also draw up a simple agreement stating that you will immediately pay off the loan balance and upon receipt of the title immediately surrender the title to the buyer signed and ready for them to transfer into their name. Make two copies, one for you and one for the buyer. You'll both sign both copies. Good luck with the sale! HTH. -Jim

Your Answer

Add photo

Related Questions

Mustang

Looking for a Used Mustang in your area?

CarGurus has 47,157 nationwide Mustang listings starting at $1,999.

ZIP:

Search Ford Mustang Questions

Ford Mustang Experts

#1 Tom Demyan
Tom Demyan
Reputation 4,160
#2 Bob Beaman
Bob Beaman
Reputation 1,200
#3 COMETGUY61
COMETGUY61
Reputation 1,040
View All

Related Models For Sale

Used Chevrolet Camaro
147 Great Deals out of 32,796 listings starting at $1,995
Used Dodge Challenger
112 Great Deals out of 24,164 listings starting at $8,988
Used Dodge Charger
286 Great Deals out of 27,146 listings starting at $2,250
Used Chevrolet Corvette
102 Great Deals out of 20,411 listings starting at $3,495
Used Ford Shelby GT500
543 listings starting at $22,999
Used Ford F-150
2,237 Great Deals out of 209,101 listings starting at $1,499
Used BMW 3 Series
960 Great Deals out of 33,516 listings starting at $1,000
Used Jeep Wrangler
273 Great Deals out of 18,650 listings starting at $2,995
Used Chevrolet Silverado 1500
1,743 Great Deals out of 169,403 listings starting at $1,800
Used Nissan 370Z
43 Great Deals out of 3,164 listings starting at $8,500
Used Nissan 350Z
54 Great Deals out of 1,212 listings starting at $3,500
Used Honda Civic
502 Great Deals out of 89,309 listings starting at $1,299
Used BMW M3
42 Great Deals out of 1,715 listings starting at $4,544

Used Cars For Sale

2017 Ford Mustang GT Premium For Sale
3 Great Deals out of 4,535 listings starting at $28,038
2016 Ford Mustang GT Premium For Sale
7 Great Deals out of 396 listings starting at $26,775
2015 Ford Mustang GT Premium For Sale
455 listings starting at $23,995
2014 Ford Mustang GT Premium For Sale
218 listings starting at $18,981