Title/payment transfer?
Thread Starter
mmmmmm....
Joined: Sep 2005
Posts: 20,524
Likes: 95
From: Glendale, CA
Title/payment transfer?
As most you guys know that I'm selling my used 2005 tsx, but wondering how the title transfer works? I still owe $8000 to Honda Finance, so is it possible to trasnfer my payment to the new buyer? I just spoke to my brother, and he was telling me that I have to be careful who I sell my car to because even though I transfer my payment over to the new owner, I still can be get rape on credit part if they miss their payment or so. Is this true or is he completely off?
btw, dealer offered me $13,000. What a joke. I understand that economic is bad, but damn $13k? They were selling 98 Integra Type-R for $16k, so Type-R is worth more than mine? haha. They also said that since both of my fog lights has a crack, it's going to cost them $800 to replace them. WTF! Are they putting hid kit plus 14k gold frame or something? Stealership.
btw, dealer offered me $13,000. What a joke. I understand that economic is bad, but damn $13k? They were selling 98 Integra Type-R for $16k, so Type-R is worth more than mine? haha. They also said that since both of my fog lights has a crack, it's going to cost them $800 to replace them. WTF! Are they putting hid kit plus 14k gold frame or something? Stealership.
The Box
Joined: Nov 2003
Posts: 6,680
Likes: 80
From: Milwaukee
I don't believe you can just transfer the payments over. They would have to get approved by Honda finance in order to do something like that. What I've done in the past is take what I owe for the car and do a legal contract between myself and the owner saying the car will be parked, not moved at all until lien is here. You pay a little extra to get it processed faster when you send it in to pay it off and wait for the lien release. It's the safest way to do it. Once you get the lien release, they give you the rest of the cash and you give them the car and title.
This all depends on how bad the new owner wants the car though, because it's kind of a lengthy process. I would def be careful though with all the bad checks going around and people scamming each other.
This is why dealerships offer less for the cars, they are taking this big headache away from the people.
GL with the sale!
This all depends on how bad the new owner wants the car though, because it's kind of a lengthy process. I would def be careful though with all the bad checks going around and people scamming each other.
This is why dealerships offer less for the cars, they are taking this big headache away from the people.
GL with the sale!
Thread Starter
mmmmmm....
Joined: Sep 2005
Posts: 20,524
Likes: 95
From: Glendale, CA
Thread Starter
mmmmmm....
Joined: Sep 2005
Posts: 20,524
Likes: 95
From: Glendale, CA
I don't believe you can just transfer the payments over. They would have to get approved by Honda finance in order to do something like that. What I've done in the past is take what I owe for the car and do a legal contract between myself and the owner saying the car will be parked, not moved at all until lien is here. You pay a little extra to get it processed faster when you send it in to pay it off and wait for the lien release. It's the safest way to do it. Once you get the lien release, they give you the rest of the cash and you give them the car and title.
This all depends on how bad the new owner wants the car though, because it's kind of a lengthy process. I would def be careful though with all the bad checks going around and people scamming each other.
This is why dealerships offer less for the cars, they are taking this big headache away from the people.
GL with the sale!
This all depends on how bad the new owner wants the car though, because it's kind of a lengthy process. I would def be careful though with all the bad checks going around and people scamming each other.
This is why dealerships offer less for the cars, they are taking this big headache away from the people.
GL with the sale!
thanks!
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