Home/Title Loans/Is It Possible To Sell a Car That Has a Lien On The Title?
Is It Possible To Sell a Car That Has a Lien On The Title?
A Step By Step Process On How To Sell a Car With a Lien In Las Vegas
When you get a Nevadas title loan on your vehicle, your vehicle will have a lien placed on it. You may be wondering if you will be able to sell a car with a lien when you are ready to do so. Although the process may be a little more complicated, the answer is that yes, you usually can. Discover more about this process below!
How Can I Sell My Car with a Title Loan?
There are a few methods you can use to sell your car with a title loan:
Put Your Vehicle Up For Sale & Use The Proceeds Of The Sale To Pay The Balance Of The Title Loan
This option can be tricky because it requires trust from your vehicle’s buyer. When the buyer gives you the money for the car, they are trusting that you will be honest and use those funds to pay off the balance that is left on the title loan so that the lien can be removed and the title can be transferred to the new buyer.
Once you’ve received the money from the sale and paid off the remaining balance on the title loan, you’ll need to file paperwork with your Whitney loan company as well as with the Department of Motor Vehicles (DMV) to prove that the loan has been fulfilled. It will take a couple of weeks for the DMV to process your paperwork so that the vehicle title can be put back into your name after the completion of your title loan.
Once that is finished, you’ll need to transfer the title of the vehicle over to the buyer. This step takes some patience. In the meantime, you’ll need to maintain trust with your buyer because they have given you money and are still waiting for a vehicle they haven’t yet received. You’ll need to work hard to make sure the buyer is confident that you are not scamming them out of their money. It takes time to complete the transfer and sell a car with a title loan in this way. You’ll have to convey ever step of the process to your vehicle’s buyer so that they know things are being processed.
Pay Off The Remainder Of The Title Loan Right Before Finalizing The Sale Of Your Vehicle
If your potential buyer is concerned about a scam and doesn’t want to go through the process of waiting for title transfers with the DMV, try to secure a deal with them that they will pay for the car immediately after you’ve finished paying off the title loan. Use the money in your bank account to pay off your loan to Summerlin title loan servicesin full. Your bank account might look a little sparse, but with a buyer ready to pay cash for your vehicle, it won’t take long to recover. As soon as the title loan is fully paid off and the lien is removed, you’ll be able to go through with the sale, get your money from the buyer, and be back to where you were before.
Trade Your Vehicle With a Dealer
In many cases, you can work with a professional car dealer and come to a sales agreement even if there is a lien on your vehicle. Be upfront about the situation with your Henderson title loan company and ask about the repayment term that you agreed to when you took out the title loan. A quality Paradise car title loans servicer will not penalize you for early prepayment. You’ll also want to find out about processing times for getting the title sent back to your name. Ask these questions ahead of time so you can have all the information you need when it comes to talking with a dealer about a vehicle sale.
Look Into Refinancing Your Title Loan
Another option if you are eager to sell your vehicle is to refinance your title loan. Contact your Spring Valley title loan company to talk about your options and see if you are a candidate for refinancing your title loan. This can help you pay off your title loan faster so you can have a clear title and sell your vehicle sooner.
If you want to consider refinancing, you’ll need to provide your vehicle title and registration, current title loan contract, license plate and VIN number, records of employment or other means to repay a title loan, and photo identification with a current address. Once your title lender has processed these documents, you’ll be contacted with contract options. Once your new title loan has been paid off, you can sell your vehicle free and clear.
Get The Best In Las Vegas Car Title Loans
If you need fast cash, USA Money Today is your best option for vehicle title loans. We accept most cars, trucks, and even RVs so you can get the cash in hand that you need, fast! Visit our website for our convenient online application or call to speak with one of our representatives.