chad

So we just purchased a new vehicle for my wife, and looking to sell her current vehicle (2007 tC) ... however, we owe toyota financial on the loan still.

For those of you that have sold a vehicle with a lein / balance to a private party, how do you go about doing so ? Is there a special "bill of sale" out there to be used until the title can be obtained and signed over ?

Just a new venture for us ... looking for any knowledge.

Thanks

HEISENBERG

You know you will be losing money right? Just checking.

chad

How am i losing money when i owe less on the car than what we are selling it for ?

ILLEGAL

they have to wait for the title to be sent from the lean holder after you pay them off. So a written contract will be needed.

Will Sol

Call the place you have a loan through tell them you have a buyer and usually they will help set everything up. USAA was great with this.

junction

pay it off, get the title in your hands, then sell.

chad

called toyota financial, they said we have to pay off the note with a cashiers check (to expedite) and it would take 3-5 business days to process + shipping ...

That being said, anyone know where i can hunt down a bill of sale that is geared towards situations like this.

h22civic206

well its all on the buyer if he wants to do that. He gives you the money and you pay your loan off. The bank does a release of lien and stamps the title and mails it to you. I just got my car and it took 10 business days for the process. You can still write the buyer a bill of sale and he can get a temporary pass( from what the dmv told me). Like i said man I recently just went through this. Hope this helps

ILLEGAL

I wrote up my own on my last two sales, but my cars were paid off.

Rueben

office max sells forms like that