How do I sell my car when I don't yet have the title??

Question

I have a leased vehicle that is coming to an end. To avoid penalties/charges, I am selling the car outright. The bank who my lease is through is very difficult to deal with, so rather than have my buyer deal with them, I am buying the car in my name.

Problem is, it will be about a 2 week lapse until I have the title in my hand to transfer over to the new buyer. In the meantime, is there anything I can do to transfer the car/registration out of my name, into the new buyers? She will be giving me a check for the car, and I'm sure she won't want to wait 2 weeks to take it!

Thanks!!

Answer 1

Why would there be a 2 week lapse?    Explain to the bank that you need it sooner.  Perhaps give them a certified/bank check so they need not worry if it is good.  Ask them to fax you a lien release instead of having to wait for them to mail one.  Contact a supervisor at the bank instead of a clerk

Answer 2

At the moment the bank is the legal owner of the car and as soon as they get paid in full and the cheque clears they will send off the v5 document to the dvla with the new owners details on it.They do not care who the new owner will be, so simply pay off the outstanding loan and inform the bank of the new owners details.