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Unread 02-01-2013, 09:22 AM   #1
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Default Selling the Tundra

So im most likely selling my tundra to a buddy from work, and i was wondering what all i need to do? I have never sold a new vehicle that i still owe on, so im wondering what will have to be done to transfer the warranty and what not, and how the title gets transfered.
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Unread 02-01-2013, 11:12 AM   #2
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Warranty shouldn't need anything I do'nt think? afaik if its not too old and its in mileage range, warranty is good.

I'd assume you'd have to get the money, take it to the bank and have them release the lien, then transfer the title.

Why are you selling?
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Unread 02-01-2013, 11:29 AM   #3
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When I sold my Lincoln I still owed money on the loan. I did the sale, final payoff of the loan, and the title transfer at the service counter of my bank - This made things go very smoothly and hassle free. They printed the lien release and official forms as the buyer and I were talking in the lobby, the whole deal took all of maybe 10 minutes.
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Unread 02-01-2013, 01:37 PM   #4
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I financed through toyota, so there is no bank for me to go to. Thugh maybe the dealership has access to it all.
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Unread 02-02-2013, 08:15 AM   #5
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Oh and im selling it because its no longer economic for me to own. In reality it sits in the drive way most the time, and rarely ever gets used as a truck. I do love m truck, but its just time i move on.

Not to mention the spar funds that will be freed up to dump into the supra
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Unread 02-16-2013, 03:53 PM   #6
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First, when you own a car that's being financed, there is a LIEN on the vehicle.
If you're selling your truck in a private sale, what you can do is:

A. tell the person that there is a LIEN on the vehicle and ask them to come with you to pay it off on sale.
B. Pay the car off, get the receipt for it.
C. Go to your local DMV and do a LIEN search. It should come up as no records found (as in the government failed to find a vehicle that has a lien on it).

Title transfer should be normal.
If you sell the car with a lien on it and you decide not to pay it off, it's the current owner's responsibility and you're technically "off the hook".

If you owe 15k and you sell the truck for 16k.
That doesn't leave you with much.

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