How to sell a car when the bank owns the pink slip?

Ollie Desalvo: call the bank,find out the payoff amount,arrive at a selling price or value of your car to determine if you owe less than it's worth(equity),if so advertise car,when you find a qualified buyer,(one with money or credit worthiness to finance) have check made payable to both you and the bank,go there payoff the car ,the bank will give you your money over the payoff and assist your buyer with title transfer,in most states the license plates stay with the current owner for transfer to his/her next car....Show more

Alisa Kaleiwahea: You mean the bank has a lean on it?If so, you can't sell it because it belongs to the bank.

Bianca Lannier: It's very simple. You must pay off the loan in full in order to obtain the title and transfer it to the new owner.Take the money you get from selling the car and pay off the loan. When the title comes in, sign it over to the buyer. If the money you get isn't enough to pay off the loan then the balance needs to ! come out of your pocket. This process is done thousands of times every day. It should take anywhere from 2 hours to 2 weeks, depending on your lender to get the title. The buyer can legally drive the car on a paper tag until you meet with them and sign the title over....Show more