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It will be necessary to get the lien holder's signature in order to transfer ownership of the car after all the debts have been paid to sell your car.

Looking to Sell a Car with a Lien?

After deciding that you want to sell a car with a lien, you will have to figure out the pay-off amount, which is the amount of money -- including interest and other fees -- that needs to be paid to the lien holder to get title for the car. Your lender can tell you the amount. It's easier to sell the car if you owe less than what it is currently worth. If you owe more, you may have to pay the difference in order to sell the car.

Selling to the Dealer 

The next step is to decide whether you want to sell the car to the dealer or sell the car privately. Selling to a dealership can be the easier option, as they will handle all the financial paperwork for you.

The dealership will determine the value of your car and the amount it will pay (usually a good price if the car is in decent condition). After you agree to sell your car to the dealership and give them power of attorney, they will contact your lender directly on your behalf and pay the existing balance that you owe, thus satisfying your loan. The dealership will then give you any money that's left over from the loan's balance, which can be applied to the purchase of a new car, if you decide upon that option. The lender will give the dealership the title to the car once the transaction is completed, and you should get documentation from the dealership stating that your lien has been satisfied. 


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Selling Privately

The other option you have is to sell the car privately, which can sometimes help you get a higher profit, but usually takes more time and effort. In your listing for the car, make sure to include the lien information. If you are able, try to sell the car locally in the location of the lien holder. After you and the car buyer have completed the sale, you can go to the lender directly to pay off the lien, upon which, they can transfer ownership of the title to the buyer.

Sell Your Car Online

Another option if you are trying to sell your car is to work with a car buying service. These businesses buy cars for a variety of reasons and are more flexible about negotiating than many private buyers and dealerships. If you have a car that's damaged or broken-down, is your best option for getting fair market value for your car. They also have experience buying cars with liens. picks up your damaged car nationwide, and you get payment when they pick up your car. Contact today, and get an offer for your car.


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