Can I sell my car that is listed as a repo?

Question

I have had my vehicle for 3 1/2 years. i got behind on my payments early last year and was told my car would be repo'd. However, the car has never been picked up. i have given my lienholder my current address, but the car still remains with me. Now, I'm having issues with the vehicle and want to get rid of it. Can i sell it? Should I continue to contact my lienholder again and tell them to come get it? What if they dont come get it? I dont have a clear title, so what are my options? Can i sell it to a salvage company or something? I know I still owe the balance and will pay once i have the "Full Amount" as they requested. I haven't made a payment in over a year, my loan shows "charge off" on my credit report. Not sure what I can do with this car if they don't come get it.

thanks

Answer 1

The first thing that you need to do is contact the lienholder again and ask them if they are still planning to come and get it. If not, then you need to find out what the payoff amount is and try to sell the vehicle for the payoff amount. You cannot sell it with out a clear title though, even a salvage yard would need a title to resell it, plus it is illegal to sell a vehicle that you do not hold the title to if there is still money owed on it, that is why you need to sell it for the payoff amount, mail a check to the lienholder, and they will send you the title.

Answer 2

You can't sell it.

Answer 3

No, because if the buyer tries to get it registered under their name, the DMV will see it as a repo and they will not be able to transfer the title without contacting the lienholder who reported it as a repo. So, then the buyer is told to pay back the bank in order to get the title free and clear... so, who do they come after? Correct, they come after you, who was never legally allowed to sell the car.

The buyer can take you to court for selling them a car registered as a repo.

However, a savvy buyer probably wouldn't buy it, anyway, without being able to take the title with them.

Answer 4

You cannot sell it because you do not own it. Call the lienholder and tell them to come for it. No one will buy it without a clear title.