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Can you sell a car with a payment plan if the bank owns the title?
Published March 3, 2011
Question by scorpia_kiss: Can you sell a car with a payment plan if the bank owns the title?
I own a 2007 vehicle and want to sell it to save money. The financing company still has a lien on the vehicle. A coworker has expressed interest in the car but wants the option to pay in installments. Is it possible to sell a vehicle this way without being the current title owner or is this out of the question? What are the risks? Who is liable for the vehicle in this time. How would this deal be structured? Can you recommend a contract template to use?
Best answer:
Answer by Jenn
Only if you pay it off first to clear the title
Add your own answer in the comments!