Selling My BMW

Beemerboy

Beemerboy

Just One More Coat
Yes I've decided to sell the BMW and buy a pickup....life style changes and a pickup for camping, fishing maybe towing a trailer would be a better fit for us now.

My question is that I still owe on the car, so when I have an interested buyer....I fill out the transfer of title DMV paperwork and he gives me the cash...I then (head to Mexico)...just kidding!:D

I send that to the bank and request for the title...right?

I've not sold a car that I didn't own outright....I just want to make sure that I don't do something that would get me in trouble or leave me on the short end of the stick:huh:

Any help here would be appreciated
 
I am not an expert in this but do have an opinion. I would go to the bank with the money, money order, or check and get the paperwork filled out immediately by the bank staff. To make sure that the money is clear and into your account before I signed any DMV paperwork. The title(which should be at the bank of record) must be cleared by the bank for official DMV transfer.
 
cwcad said:
I am not an expert in this but do have an opinion. I would go to the bank with the money, money order, or check and get the paperwork filled out immediately by the bank staff. To make sure that the money is clear and into your account before I signed any DMV paperwork. The title(which should be at the bank of record) must be cleared by the bank for official DMV transfer.
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That's a good idea....I'll call the bank on Monday and ask what I should be doing....they can tell me what paperwork / funds need to be in place before signing off on the DMV stuff
 
JaredPointer said:
What kind of truck are you looking at Dave?
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JP

Some thing in the smaller size range.. like the Ford Ranger size....I guess they call that mid-size....I want a crew cab so that I my son can ride back there if needed...and that will be just around the area here...no long trips...then I plan on getting a shell for the bed....If I can find a decent used on with a shell that would be ideal....I looked a Nissan Frontier yesterday that was nice
 
cwcad said:
I am not an expert in this but do have an opinion. I would go to the bank with the money, money order, or check and get the paperwork filled out immediately by the bank staff. To make sure that the money is clear and into your account before I signed any DMV paperwork. The title(which should be at the bank of record) must be cleared by the bank for official DMV transfer.
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That's spot on (great advice), but I would also write a bill of sale and keep a copy for yourself.

BTW: You're gonna have to change your screen name to Truckboy:rofl (I slay myself)
 
The truck's ride must be a lot rougher/harder than the BMW? it'll take some getting used to.
At any rate,good luck and congratulations
 
okay when you have a lien or loan on the car and you still want to sell it:
1.out of courtesy tell the buyer because the buying processes will be longer
2. the buyer/and you have to come up with enough money to pay off the car, hopefully you owe less than what the car is worth if not you will need to come out of pocket to pay the difference, so make sure you can "afford to sell the car",
3. so know the value of your car (kbb is a good estimate), look up the private party value, then call your bank and find the balance on the car.
4. assuming you can financially sell the car, make sure the buyer pays you in cash or certified funds, if the buyer gives you certified funds the check MUST be written out in your name and the banks (maybe just the banks name, but no one could argue with both names)...
5. this various between states: in some states a bank gives you one part of the title, and the bank keeps the other part until the car is paid off, or the bank just keeps the one part of the title (and there is no second part), once you receive the title from the bank, the bank will also give you a letter that states the pay off of the vehicle,
6. buyer takes the letter and title to the DMV, after you sign the title over
7. NOTE: this is the quickest way to sell the car with a lien, your other option is send the title to the dmv have them correct, and take the lien off, then get a clean and clear title (this will take several weeks if not longer).

any other questions just ask i purchased and sold hundereds of cars in the past few years :)
 
Truckboy is good, but I like Euro traitor a little better.

Please don't do it Dave. For the sake of the Bimmer, just say no!
 
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