Car with a lien
3 Answers
Review your lease, it will give details on how to transfer ownership. New owner can buy out your lease (if they qualify) or you sell, take money from sale to pay off lease in full, then receive title and xfer to new owner (this process takes time).
You will need to contact the bank that holds the lien. They can give a payoff amount and let you know how long it will take to release the lien. The buyer will normally make the payment to the bank and you will get the left over funds.
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Odds are on a 1 year old car you owe a lot more than the car is worth. Check the value on kbb.com and compare that to the pay off amount.
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