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by Shaaie on January 5th, 2007

Shaaie

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I am selling a newer car which may require that a buyer get an auto loan. When will I recieve the money and when do I let go of the title? When I financed a car, the title goes to the bank. So how does this work?

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Answers. 2 helpful answers below.

  • by dr james on March 26th, 2008

    dr james

    make sure you take the check to your bank or better yet, to the bank that its written on and make sure its good, before you sign over any papers to a stranger.

    better yet, cash the check or make sure it clears your bank before signing over the papers.

    no legitimate buyer will have a problem with this.

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  • by Joe-Speedy on January 5th, 2007

    Joe-Speedy

    The buyer pays you in full from whatever resource they like. THEN you sign over the title and use that money to pay off whatever is owing at the bank.

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