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GrandmasterCow

12-08-2010 05:32 PM

question about title liens

If someone wanted to sell you a car that, lets say they owed 8K on, has a lien from another state, is there any way to transfer the lien to another person and have them take over the payments without the original lien holder paying off the car? What if another vehicle was put up for collateral?

JW	12-08-2010 06:11 PM

This is all something that probably has to be discussed with the Lien holder I would think to be sure they agree upon things.

JW :D

Mike	12-08-2010 06:19 PM

the buyer would have to get approved for a loan from the bank holding the title

Frosty

12-09-2010 07:33 AM

Quote:

Originally Posted by cbrrmike (Post 741808)

the buyer would have to get approved for a loan from the bank holding the title

^^ This

V	12-09-2010 11:19 AM

or as long as they get an auto loan from any other bank for the amount and then i believe it would just be the banks transferring titles.

They could also get a personal loan for the amount, and you pay off your loan, and then receive the title and hand it over to them.

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