Is attempting to sell a motor car having a Lien prohibited?

Is attempting to sell a motor car having a Lien prohibited?

It is not unlawful to offer a vehicle by having a lien about it , so long as the purchase lets you spend the loan off and move the title to your brand new owner. Keep in mind, in the event that you nevertheless owe on a car, the lending company owns the vehicle and, in most states, holds the title.

Numerous states allow it to be unlawful to offer a automobile without having a name. If you’ve lost the title, getting an upgraded is a easy procedure. However, if you don’t have name since you didn’t pay your loan off, you’ve simply sold a stolen car – which will be undoubtedly unlawful. […]