Car title question?

Question

I just sold my truck today, and me and the buyer plan on going to the notary to get everything changed over. My question is I dont have the title because I still owe money on the truck. Will the Notary be able to help me through this? Thanks

Answer 1

You're gonna need a title even with the lienholder on it.  Then you'll have to pay off the lien, and a new title will have to be issued, clear or lien, for the new owner.

Edit:  Dude, you can sell the vehicle even with a lien.   You do own the vehicle, right, not leasing?  But that lien must be satisfied, and it must be satisfied by you.

Now, if the buyer has paid you, you pay the lein, get a clear title and transfer to the buyer.

If not, you gotta pay the balance of the loan yourself.  

Bottom line, you need a clear title to transfer to the buyer/new owner.

Answer 2

If you still owe money on the truck, you don't have the right to sell it. The truck still belongs to the leinholder.

You will not get title to the truck until you pay off the loan.

The notary can not help you.

As for the buyer, just explain this to him and see what he has to say. He could back out and ask for his money back.

Answer 3

IF you own the truck, and just have a lein on the truck, once you pay it off, you will get the title from the leinholder.  IF the truck is leased, you do not have the right to sell it, because it is not yours to sell.  If it is just a lein, you have to pay it off before you will get the title.  Technically, it is illegal to sell a vehcile without a title.  And the buyer has the right to back out of the deal since you do not have the title.  The notary will not be able to do anything except tell you exactly what I am telling you.  After paying off the vehicle, it could take the leinholder weeks to get you the title, or longer.  However if the leinholder is local, and the title is also local, you may be able to go directly to the leinholder, pay the vehicle off in cash, and get the title immediately.  But many leinholders (banks) have a central location where they store the titles.  

Hopefully the buyer will be understanding and wait until you get the title.  

Good luck

Answer 4

You can not legally sell a vehicle if there is still money owed.  

The buyer will not be able to register the car in his name if there is not a lien release indicating that the vehicle is free and clear.

Once you payoff the vehicle you should receive the lein release in the mail..banks and finance companies have up to 30 days to release the satisfaction papers to you, so you might want to get that payoff together soon!

A Notary Public is an officer of the court..they can not help you with anything except Notarization!

Good Luck!

Answer 5

You can't sell a truck that is not YOURS.  By yours I mean, the LOAN company still owns the truck since they have the title.

So no one can help you until you pay off the loan.

Answer 6

No, the notary has nothing to do with the lender. A notary is simply stating that the people signing a document in front of them, is who they say they are. You'll need i.d. to prove who you are. As for owing on the truck, you need to contact the lender and notify them that you are selling the truck. Ask for a ten day pay off amount, this is the amount you need to get for the truck to pay off the loan, so that the lender can release interest. If the loan is not paid in full, the lender will not release interest, and your buyer cannot transfer title into their name, basically deal over. So, contact your lender first, then proceed with trying to sell the truck. If you got enough now to pay it off, great.