PolishPete

I wanted to post my Mustang for sale, however, I still owe 2K on it. Is it possible to sell it, provide a bill of sale, then send the person the title when I get it? How would the insure it? Put plates on it? Thanks for any responses.

Crazy Bimmer

I think all they need is the VIN to insure it and they have 30 days to register the car. So they can drive it in the meantime. Just have them carry the bill of sale showing the date of purchase.

Should be ok.

wasupdog

iTrader: (2)

i dunno if it depends what state yer in, but here in CA, u can't really sell it until u have the title in hand or get it paid off to then get the title sent to you. when u or any owner registers the car at CA DMV u need to have the title.

BEETROOT

Thats how I've sold my last two cars. Like sellout said, the buyer can get temp plates from the DMV with a bill of sale. All they need is the VIN to insure it. The buyer hands you the money, you sign the bill of sale, and the car is sold. Title comes afterward.


So you are saying that in California no one who owes money on a car loan can sell their car?

PolishPete

Thank you...that's what I was looking for.

Shoofin

I'm not sure about where you are, but in NY, if the title has a lien on it, it must be accompanied by a lien release in order to register the car, because you must have the title in hand to register the car, among other DMV forms.
As a dealer, I buy cars from customers all the time that still have liens on them, I take the car and title, pay them any money if I owe them anything, then pay off the bank and wait for the lien release, with fingers crossed that I get it in days instead of weeks.