I'm selling her...for a good reason :)

PakShak · 02-27-05, 05:55

Hi All,

I placed a classified ad yesterday in the local paper for my 2002 Toyota 4Runner SR5. I have already gotten half a dozen calls of which 3 of them came by to look at the 4Runner. Well, one person came by today and said she was in really great shape. He asked if I detailed her and I said yes I do by "Autopian" standards. Of course he had to ask what did I mean. Long story short, he said I better use the same stuff because he said he would give me a cashier's check in full for my asking price.

However, here's my dilemma...I had financed my purchase of my 4Runner two years ago and I have yet to pay it off so there is a lienholder (out of state) on the title.

What would you do to complete this transaction? Take the money and run.

....just kidding. Seriously, any suggestions or comments welcomed.

Oh and the reason why I am selling my 4Runner is because my wife and I are expecting twins sometime in July or August so we need the added space. We have a 20 month old daughter now and two more will not sit well in a 4Runner. So yes, I will become a soccer mom.

. The ironic thing about it is that my brother (Rinney) and I are identical twins. We are only 5 minutes apart. Some here might know of him through emails. A Twin having twins are rare so it was unexpected. But we do feel very blessed.

Well, any help will be much appreciated. And the next "van" will be either a Honda Odyssey or Toyota Sienna.

With Aloha,
Ranney

FalconGuy · 02-27-05, 06:02

Congrats to you and your wife Ranney!

Does this mean your going to have a two for one sale on Towels?

hirosh · 02-27-05, 06:06

congrats on the twins!

as far as the financing thing, um......maybe call your lienholder and ask what to do?

and a van, have fun detailing that thing!

good luck!

kartoon · 02-27-05, 06:09

Basically, you have to provide the lienholder with the amount of money you owe them. This can be accomplished by either:
1) the buyer issuing a check to the lienholder for the exact amount or
2) you, after cashing the check (assuming the buyer trusts you) will send a check(or any other acceptable form of payment) to the lienholder.

They will then "release" the lien - most of the time it's a document stating that you paid off your debt. This is needed for the buyer to obtain a lien-free title.

Pats300zx · 02-27-05, 06:22

Congrats to you are and your wife Ranney ...that is so awesome !!!!!

Pakshak keeps getting bigger in more ways than one

ebpcivicsi · 02-27-05, 06:25

First of all CONGRATS on the new babies!!!!

About the title transaction, I just went through this with my Mom. Basically you have to provide the lien holder with payment in full BEFORE they will release the title. If you are relying on the individual's money to pay off the loan, he must trust you. What we did was to meet the buyer at his bank, he gave us a check for the amount of the vehicle. We then depoited it in front of him, and over nighted the OUR check to the lien holder from the bank. That way he knows that the money is going to the lien holder. We then created a bill of sale and had it signed by both parties and then notarized at the bank. In TN the buyer cannot get tages or register the vehicle until he has the title, he couldn't get tags until the title came in. The buyer walked away with the car and the bill of sale along with a tracking number to the check. The lien holder received the check and mailed the title, this took about 6 days. We then met with the buyer and gave him the title.

As you can see the buyer has to do have a bit of faith and trust in you to complete such a transaction. The key IMO is the bill of sale and excellent communication and response. Jusding with my experiences buying towels from you, you should have no problem with that.

The easy way to complete the transaction would be for you to have your own $ to pay off the lienholder, receive the title, then exchange moey for title with the buyer.

Good luck, I hope this helps.

CarsFreak · 02-27-05, 07:01

Congratulations on the kids. I'm past that for me now. Any new kids for me would be grandkids but that's still a while a way.

Regarding the new van. Just keep in mind. Sienna has the usual Toyota handling and the Odyssey has the usual Honda handling. No surprises here. V6 is nearly the same but some say the Honda is faster but keep in mind @255HP, it has a couple more hundred pounds to haul while the Sienna @230HP has a few hundred pounds less so the ratio is nearly the same.

I'm nearly an expert after spending nearly everyday researching whether which one was perfect for me.

Also, the Odyssey LX has more vaule Sienna CE while the Sienna XLE Limited has a bit more vaule than the Odyssey Touring, IMO.

Good luck.

LouisanaJeeper · 02-27-05, 07:15

i did this over the summer. i was the buyer. drove to the seller 8hrs away

i paid like 70% took the car and keys, made a bill of sale etc. the seller paid off the bank and got the title sent to him (took like 2weeks). he sent me the title, i got new plates. then i sent him the remaining 30% cashiers check

the other pc · 02-28-05, 11:44

Aloha Ranney!

Congrats on the upcoming keiki!

PC.

tkr128 · 02-28-05, 04:25

First, congratulations on the new kids!

Pretty much everything I can think of about the lienholder has already been covered. But I'm going to be sad seeing your 4Runner go!

Personally, I like the Sienna more, the Odyssey has a weird shape on the rear end that bothers me. Styling aside, The Odyssey handles much more like a Honda while the Sienna is a bit more calm. For features, the Sienna offers a lot IMO, especially with cool add-ons. Or...you could just get a new 4Runner with the 3rd row!

Prometheus · 02-28-05, 05:17

Good luck with the sale Ranney, and congrats on the twins.

Scottwax · 02-28-05, 10:46

Get the Odyssey. My brother got one when his wife was expecting and he just loves it...well yes, he loves his daughter too! And of course, the main reason I go to his house now is to see her.

Congratulations on the upcoming family additions!