Selling Car with Lien still on it.
April 14, 2005 2:20 PM Subscribe
My wife and I are likely to be moving from the US to Australia in the next few months. I have a 2004 Audi that we would need to sell. I would like to sell the car to a private buyer, as opposed to a dealer, to make as much back as possible. How do people deal with having a lien on the title while trying to sell the car?
posted by qwip to Travel & Transportation around Australia (15 answers total)
Right now the car is worth approx. $27,000 and the outstanding loan amount is close to $21,000. Our savings are tight enough that it would be difficult to buy out the loan ourselves, get the title clear, and then sell. Have any of you dealt with this situation before, and if so, what did you do? I can't imagine a buyer would pay me the $27K and wait while I paid off the loan, got the title sent to me, and then sent it to them. The loan is held by Chase Bank and there are no local branches in my area.