Selling a car with a loan on it.

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#7938022 - 10/29/14 05:15 PM Selling a car with a loan on it.
SiZ SiZ Post Master Sr Registered: 09/15/00 Posts: 8774 Loc: Longdon, Ontario	Hey, I'm also doing something I've never done and selling my wife's car that has a loan on it from Honda still. How does this go about? Can I still get a UVIP and then just post the car for the owed amount, and pay the loan out when I get the money? OR is there going to be some kind of administration fee for me to pay out the loan and sell it? I like old cars best. $\:\)$ _________________________ Makes cents.
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#7938098 - 10/29/14 05:50 PM Re: Selling a car with a loan on it. [Re: SiZ]
Hatorade Hatorade pheggit Post Master Supreme Registered: 11/05/99 Posts: 26894 Loc: Toronto, ON	There is no fee to pay off the loan. The buyer will need proof that you paid off the loan so you might need to bring the potential buyer with you to Honda and pay off the loan on the spot (if I was the buyer that's what I would want done). Or if you have the funds pay off the loan now and honda will send you a letter confirming the loan pay out and PPSA being taken off as well. _________________________ '07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark* was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later* - porschetr
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#7938111 - 10/29/14 06:01 PM Re: Selling a car with a loan on it. [Re: Hatorade]
SiZ SiZ Post Master Sr Registered: 09/15/00 Posts: 8774 Loc: Longdon, Ontario	Why does the buyer need to know that I paid the loan off, can they not register it if I owe money on it? I might have to just pay it off and then sell it like that. I need a letter? I can't just pay it off and then go get a UVIP and sell it like my other cars? This is going to be dumb. _________________________ Makes cents.
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#7938113 - 10/29/14 06:03 PM Re: Selling a car with a loan on it. [Re: SiZ]
JEFFOS JEFFOS Post Master Supreme Registered: 01/27/00 Posts: 29150 Loc: Toronto	Nobody will buy a car with someone else's lien on it that's why. You could just not pay and they would have their car repoed _________________________ -Jeff
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#7938178 - 10/29/14 07:00 PM Re: Selling a car with a loan on it. [Re: SiZ]
Hatorade Hatorade pheggit Post Master Supreme Registered: 11/05/99 Posts: 26894 Loc: Toronto, ON	Originally Posted By: SiZ Why does the buyer need to know that I paid the loan off, can they not register it if I owe money on it? I might have to just pay it off and then sell it like that. I need a letter? I can't just pay it off and then go get a UVIP and sell it like my other cars? This is going to be dumb. No, dumb would be a person paying for a car with a lien on it junior. _________________________ '07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark* was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later* - porschetr
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#7938231 - 10/29/14 07:19 PM Re: Selling a car with a loan on it. [Re: Hatorade]
titty sprinkles titty sprinkles Post Master Supreme Registered: 08/22/05 Posts: 17176 Loc: Toronto,Ontario	If you don't pay off the loan the uvip will show that there's a lien on it, and i don't think that the buyer can register that car with a lien. _________________________ 2019 TLX Aspec
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#7938258 - 10/29/14 07:41 PM Re: Selling a car with a loan on it. [Re: titty sprinkles]
LNXGUY LNXGUY Post Master Supreme Registered: 08/06/00 Posts: 106942 Loc: Barrie, Ont,	Is the OP on acid? Really REALLY good acid? _________________________ -Bill The GN would OWN you, your children and your children's children. '09 E90 335d
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#7938262 - 10/29/14 07:43 PM Re: Selling a car with a loan on it. [Re: titty sprinkles]
zc911 zc911 Ferrari4Sale 😎 Post Master Supreme Registered: 01/01/00 Posts: 16449 Loc: toronto	You can register a car with someone's elses lein, but that would be dumb When I bought my jeep the seller still Owed 14k to TD bank. I called to Verify and I made the cert. cheque out to td auto loans or somthing like that. . I took the truck and within 2 days Td sent me proof the truck was paid off then I registered it. When I bought my first type r I went with the seller to the bank and watched him pay off the loan Edited by zc911 (10/29/14 07:48 PM) _________________________ http://www.justaddgrease.com all car stuff all the time
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#7938299 - 10/29/14 07:59 PM Re: Selling a car with a loan on it. [Re: zc911]
SiZ SiZ Post Master Sr Registered: 09/15/00 Posts: 8774 Loc: Longdon, Ontario	Thanks! I just needed to understand why/how it works. How am I supposed to know, I've never bought a car with a loan on it, and I've never sold one with one on?! That's where clubsi comes into play. I think I'll just pay it off, and then selling it will be much easier. _________________________ Makes cents.
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#7938387 - 10/29/14 08:37 PM Re: Selling a car with a loan on it. [Re: SiZ]
Hatorade Hatorade pheggit Post Master Supreme Registered: 11/05/99 Posts: 26894 Loc: Toronto, ON	Originally Posted By: SiZ Thanks! I just needed to understand why/how it works. How am I supposed to know, I've never bought a car with a loan on it, and I've never sold one with one on?! That's where clubsi comes into play. I think I'll just pay it off, and then selling it will be much easier. Dude I covered it in my initial post _________________________ '07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark* was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later* - porschetr
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#7938869 - 10/30/14 03:59 AM Re: Selling a car with a loan on it. [Re: Hatorade]
SiZ SiZ Post Master Sr Registered: 09/15/00 Posts: 8774 Loc: Longdon, Ontario	Send me a bill for your time!! _________________________ Makes cents.
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#7939835 - 10/30/14 03:21 PM Re: Selling a car with a loan on it. [Re: SiZ]
87ZCSi 87ZCSi Post Master Sr Registered: 09/06/00 Posts: 7166 Loc: Portland and Toronto	When I bought the M3 the girl was BIG TIME upside down, so we went to BMW together and each provided a draft to the financial manager. Mine for the purchase price, her for another DEEP 4 figure amount to pay off her share. I registered it with a lein the same day cause it takes a while for paperwork to clear but we paid it off together. What are you selling?
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#7939904 - 10/30/14 04:06 PM Re: Selling a car with a loan on it. [Re: 87ZCSi]
Hatorade Hatorade pheggit Post Master Supreme Registered: 11/05/99 Posts: 26894 Loc: Toronto, ON	lol when you say DEEP 4 figure, like almost $10k upside down? man that's got to fucking hurt lol. was she hot? _________________________ '07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark* was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later* - porschetr
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#7939956 - 10/30/14 04:37 PM Re: Selling a car with a loan on it. [Re: Hatorade]
SiZ SiZ Post Master Sr Registered: 09/15/00 Posts: 8774 Loc: Longdon, Ontario	Its a 2011 Civic coupe. Its a nice car, and she's definitely not upside down on it, I'd actually like to get more than she owes on it. Its got some door dings (but no scratches/gouges) that I told her to get paintless dent removal on, and she just Krowned it and not real happy that she's spending money to sell it a week later. I've been trying to reiterate that showing that you're punctual about maintenance (been Krowned since new), and not having those door dings will make the car so much easier to sell, the car still looks like new. So I'll just pay off the loan, and sell it like that.. I don't want someone to think its dumb that they're paying more than what's owed, even if it is fair market value. Edited by SiZ (10/30/14 04:42 PM) _________________________ Makes cents.
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#7941104 - 10/31/14 10:38 AM Re: Selling a car with a loan on it. [Re: Hatorade]
87ZCSi 87ZCSi Post Master Sr Registered: 09/06/00 Posts: 7166 Loc: Portland and Toronto	Originally Posted By: Hatorade lol when you say DEEP 4 figure, like almost $10k upside down? man that's got to fucking hurt lol. was she hot? $7k? IIRC? Picture's Risky style to protect the innocent. Yes, I'm serious! 27 with an E92 M3. Someone on this board can even confirm (note I'd done what I feel was needed to be tasteful).
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#7941130 - 10/31/14 10:48 AM Re: Selling a car with a loan on it. [Re: 87ZCSi]
Risky Business Risky Business Provides a Great Work Environment. he/him Post Master Supreme Registered: 05/17/10 Posts: 44790	Originally Posted By: 87ZCSi Originally Posted By: Hatorade lol when you say DEEP 4 figure, like almost $10k upside down? man that's got to fucking hurt lol. was she hot? $7k? IIRC? Picture's Risky style to protect the innocent. Yes, I'm serious! 27 with an E92 M3. Someone on this board can even confirm (note I'd done what I feel was needed to be tasteful). Why did she sell it? COuldn't afford it? When YOLO goes wrong.
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#7941133 - 10/31/14 10:50 AM Re: Selling a car with a loan on it. [Re: 87ZCSi]
Euphoricuck Euphoricuck Post Master Supreme Registered: 11/05/03 Posts: 92703 Loc: Canadistan	did you tap it? _________________________
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#7941140 - 10/31/14 10:54 AM Re: Selling a car with a loan on it. [Re: Euphoricuck]
Risky Business Risky Business Provides a Great Work Environment. he/him Post Master Supreme Registered: 05/17/10 Posts: 44790	Probably not, but that explains why he was so caught up on buying THAT particular car
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#7941144 - 10/31/14 10:57 AM Re: Selling a car with a loan on it. [Re: Risky Business]
JEFFOS JEFFOS Post Master Supreme Registered: 01/27/00 Posts: 29150 Loc: Toronto	Heh - I know her (as OP knows) _________________________ -Jeff
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#7941319 - 10/31/14 12:09 PM Re: Selling a car with a loan on it. [Re: Risky Business]
87ZCSi 87ZCSi Post Master Sr Registered: 09/06/00 Posts: 7166 Loc: Portland and Toronto	Originally Posted By: Risky Business Probably not, but that explains why he was so caught up on buying THAT particular car I actually didn't meet her until the deal was basically done. Jeff - exactly, cause to be honest, it'd be easy to call BS on this one.
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#7941422 - 10/31/14 12:42 PM Re: Selling a car with a loan on it. [Re: 87ZCSi]
Hatorade Hatorade pheggit Post Master Supreme Registered: 11/05/99 Posts: 26894 Loc: Toronto, ON	So she can handle a stick eh? _________________________ '07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark* was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later* - porschetr
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