How Do You Transfer The Title Of A Financed Vehicle?
If you are making payments on your car loan, you are not in possession of the car’s title; the lender will remain in possession of the title until you have completed all payment obligations. The two ways around this matter both involve a bit of paperwork. The easiest course is to sell your car for the amount you owe on the loan in order to receive the title. The other option requires negotiating with the bank and car dealer to reach a mutual agreement on title transfer. Prepare your car for sale by performing basic maintenance duties, such as replenishing fluids and changing the oil. Ensure that the car is in reasonable condition relevant to its age and list for sale accordingly. Determine the sale price by checking the Kelly Blue Book value and comparing your car’s condition to the various price points listed in the book. If you owe more on the car than the state Kelly Blue Book value, it is unlikely that you will be able to sell your car for the amount that you owe. Consider keeping
