gaogi
01-12-2011, 11:54 PM
Not sure if anyone would have experience with this, but hoping someone here works at a bank and have done auto loans. So I bought out my lease after finding a buyer, since Audi will not allow a third party buyout. I received the title from Audi, but it lists VW Financial Services LSR and my name, LSE on the front of the title. They filled out the back of the title with my information. Now, I know in California, I can transfer the car within 10 days without having to pay sales tax on the buyout amount.
The last time I sold a car this way, it was a cash transaction, so I was able to just give the buyer the bill of sales from my lease buyout, and sign a new bill of sales over to the buyer, and he was able to register the car, no problem. But this time, the buyer is looking to get an auto loan from BofA, and they require the title to be in my name only. This means I will need to go and register the car and wait weeks/months for the new title before I can complete the sale. I really don't wish to be tied up for that long with this car. Does anyone know of a bank that will give out a loan with the old title and 2 bill of sales? I guess what I'm asking is, is there any way to sale the car twice on the same title through a bank?
The last time I sold a car this way, it was a cash transaction, so I was able to just give the buyer the bill of sales from my lease buyout, and sign a new bill of sales over to the buyer, and he was able to register the car, no problem. But this time, the buyer is looking to get an auto loan from BofA, and they require the title to be in my name only. This means I will need to go and register the car and wait weeks/months for the new title before I can complete the sale. I really don't wish to be tied up for that long with this car. Does anyone know of a bank that will give out a loan with the old title and 2 bill of sales? I guess what I'm asking is, is there any way to sale the car twice on the same title through a bank?