sell the car without the title in my hands. help?
#16
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Absolutely - because, they have probably done this before.
In any event, it is always easier, if you don't have a local branch to deal with, to sort out the financials and THEN sell the car. It's just not always an option.
#17
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This makes it more difficult if they do not have a branch you can walk into. I ran into an issue back in 2007 dealing with a car financed by WFS Financial and they ended up taking 3 months to get the title to the new owner. It was terrible and they were terrible to deal with. On the flipside, every time I have dealt with a CU on this sort of thing, it has gone smoothly. I have bought and sold several cars this way.
#18
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Question, did you give the buyer the car while you wated 3 months for the title? i understand what i need to do to get the car out of my name, i just want to know if i can give him the car while i wait for the title. After i sign the bill of sale, notice of transfer and release of liability, the car is his right?
Well, once you sign the BOS, transfer and release it's no longer YOUR responsibility, but it still belongs to the bank. If the money has been paid by the buyer, the buyer has insured the car (important!!!) and the only holdup is waiting on the title, there should not be any issues. Just document everything, and both parties keep copies. But this information should really come from your bank! I hope it's helpful either way.
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