[airics]

I overheard a conversation at the dmv at the table next to me. In Nevada, how would you sell your personal car if you had a loan on it? Since Nevada takes 3-6 weeks to have a title processed. The clerk told the guy he couldn’t sell his car since it was not paid off yet and there’s no way to get a temp tag.
I know if it’s a dealer, the buyers contract gets you a tag

In Ohio titles are done while you are standing there in the office

[LVAllen]

Originally Posted by airics

I overheard a conversation at the dmv at the table next to me. In Nevada, how would you sell your personal car if you had a loan on it? Since Nevada takes 3-6 weeks to have a title processed. The clerk told the guy he couldn’t sell his car since it was not paid off yet and there’s no way to get a temp tag.
I know if it’s a dealer, the buyers contract gets you a tag

In Ohio titles are done while you are standing there in the office

By paying off the car, and having the lender sign the lien release section of the title. Then you sign the title over like usual.

[SoHoVe]

Originally Posted by LVAllen

By paying off the car, and having the lender sign the lien release section of the title. Then you sign the title over like usual.

Yes but say it's a sale between private parties and the seller owes 30 grand...no buyer is going to front him that money without receiving a title immediately and very few people have that kind of cash on hand to pay off their loan in advance to obtain the title.

I've always wondered about this as well.

[SGtoLV]

I did this recently. My bank requested a 3 day payoff from the sellers bank who still had a lien because he still owed money on the truck. My bank paid his bank directly, seller was paid the difference between what the payoff was and how much he still owed, and his bank then sent the title to my bank. It really worked quite well and I saved myself the 8.1% in sales tax or whatever it was.

[airics]

What if the buyer is paying cash?

[clutchcargo777]

Originally Posted by airics

What if the buyer is paying cash?

I did this years ago. I went to the sellers credit union with the seller (could have been a bank or finance company) with two cashiers checks. One for the payoff amount and one for the difference between that and what I was buying the truck for. Funds were verified at the CU, they got theirs and the seller deposited his and the title was released to me with the lien holder signed off. Redistered at the DMV and received a new title.

[airics]

What if vehicle is financed through Santander or Chrysler? How does buyer get a temporary plate if bank is out of time?

[clutchcargo777]

Originally Posted by airics

What if vehicle is financed through Santander or Chrysler? How does buyer get a temporary plate if bank is out of time?

Never experienced that but I would think you could go to your bank/CU with the seller and set up a wire transfer to satisfy the buyout. The finance company would send you a release of lien. That and a bill of sale from the seller should be enough to get a temp permit. Remember, the person registering a car can be different then the owner. Meanwhile the finance company would send (overnight) the title cementing you as owner. However, I would contact the DMV to see what they need for the temp tag. My comments were only concerning the payment and release of the finance companies interest.

[airics]

That was the issue. There was no bill of sale that the seller could use that allowed the buyer to get a temp tag

[clutchcargo777]

Originally Posted by airics

That was the issue. There was no bill of sale that the seller could use that allowed the buyer to get a temp tag

Did the DMV say no bill of sale would work or did the seller just not have one to give you? If the former, did they have any suggestions?

I ask because I have done some very convoluted vehicle purchases and never had any problems with the temp movement permit. It's not any sort of declaration of ownership, just a permit to move the vehicle for smog or inspection if necessary and, of course, a way to get the car legally to the DMV. Every clerk I've dealt with seemed to have discretion as to whether they would issue one or not, but if your story seemed plausible they would write one.