Selling a car I don't own?

Question

I have an 2000 Ford F-150 and we owe $4,099 left from financing. I have people who will buy it for $4500. I just want to get rid of the car and stop having payments because we don't really need this car anymore, so I just want to break even. But, am I allowed to sell it without the title? Do I just use the money I get to pay it off right away and give them the title later? Has anyone experienced something like this? Thanks =]

Answer 1

when i sold my car, i had a similar situation. But the person to whom i was selling it for, i explained the situation. So we ended up making a contract. that stated that once the title was recieved i would turn it over to him. But i also found out from my bank in the process that not all titles are keept in their main offices. For my car, it was actually keept in the local bank where i lived. which ment i could of picked it up. So just call your bank and ask them where the tittle to your car is kept.

Answer 2

You do own the truck, you just owe on it.  Talk to the lending company and tell them what you want to do,  then ask them how they want it handled.