[alantan23]

Hey all,

I have a question regarding an Auto Loan that I currently have with Chase. The car isn't fully paid off yet. Is it possible to sell it to either a private party or a dealer? I've never done anything like this but I'm looking to free up some income to ease up some pressure on a house purchase. If it can be done could someone explain the process to me?

Oh and is anyone interested in a CPO 2007 e93, Space Gray on Coral Red, 6MT, < 34k Miles, with Prem, CW, Sport, Nav, and CA?? =]

Thanks guys.

[dwall]

Originally Posted by alantan23

Hey all,

I have a question regarding an Auto Loan that I currently have with Chase. The car isn't fully paid off yet. Is it possible to sell it to either a private party or a dealer? I've never done anything like this but I'm looking to free up some income to ease up some pressure on a house purchase. If it can be done could someone explain the process to me?

Oh and is anyone interested in a CPO 2007 e93, Space Gray on Coral Red, 6MT, < 34k Miles, with Prem, CW, Sport, Nav, and CA?? =]

Thanks guys.

The process depends on how you want to sell it. If you want to sell it at your remaining loan amount, you can have your bank provide you with the pay off amount (amount of your loan remaining) and have the other party pay this amount to release your title to the new buyer.

OR you sell it at a higher price, pay off the remaining amount of your loan, get your title released and transfer it to the new buyer.

This is a very common process. You shouldn't have any problems.

[2000max]

Originally Posted by alantan23

Hey all,

Oh and is anyone interested in a CPO 2007 e93, Space Gray on Coral Red, 6MT, < 34k Miles, with Prem, CW, Sport, Nav, and CA?? =]

Thanks guys.

I'm in the market for a new car. Please shoot me an email with details on the car. grunwa36 at gmail.com

[alantan23]

I guess I'm just looking at it from a buyers point of view. Can I just give the buyer my title with the lien on it? Or do I have to actually go to chase bank with the buyer? On a related note, would this affect my credit score?

[Donny Rino]

Why dont you just call chase bank and ask them any questions you may have. That's what they get paid for

[exclusivo]

I dont think the car can be registered with a lien on it

[2000max]

New York state will actually follow the liens meaning you you can have multiple liens in the car at the same time. However banks require that any prior liens are fulfilled before financing a car so they are fully entitled to the collateral (the vehicle) if the loan defaults.

[chuddism]

I just sold my GLI in NY Jan 03.

I found a buyer who was paying more than I owed on the car. I asked him to make out two bank checks, one for the payoff amount I owed the bank and the other for the balance made out to me.

I signed over the title, filled out the bill of sale from the DMV website, and handed over the keys once I got the checks. I went to the bank, paid off the loan and in three days the bank electronically releases your title with the DMV (NY is an electronic owner holds title state) .

Took forever to get the actual lien release in the mail with Wells Fargo, but I believe you can rerefister once the title has been released electronically.

Hope that helps.