selling car private party "how to" help

**aspw** · 08-30-2008 05:17 PM

I'm selling my car and have found a buyer. I've never done private party with lienholder before so if anyone can help me out here that will be great.

1. I owe Audi Financial Services $x,000
2. The buyer and I have agreed on a price of $2000 more than what I owe to AFS
3. How do I go about getting the title from AFS? Should I pay off the entire loan?
4. Dilemma is that I will need to take money out of a Certificate of Deposit early(that's where I keep my extra cash).
5. Or can/should I ask for a deposit from the buyer? in cash, check, money order? Take the deposit and some of my money and pay the car off, get title, then sign the title over to the buyer with his final payment to me.

Not sure if this matters, but I am in Missouri.

Thanks in advance for any advice.

**B6480Avant** · 08-30-2008 05:58 PM

go to your bank to whom you ow money still and is holding you title and bring the buyer or all his info including his bank info the bank should do everything for you.

ive never dealt with audi financial services before but that's how i sold a previous car the banks just pretty much trade info they give you a bill of sale and the buyer one too

**aspw** · 08-30-2008 06:13 PM

Originally Posted by B6480Avant

go to your bank to whom you ow money still and is holding you title and bring the buyer or all his info including his bank info the bank should do everything for you.

ive never dealt with audi financial services before but that's how i sold a previous car the banks just pretty much trade info they give you a bill of sale and the buyer one too

AFS is not in the same city as I am, and if the seller pays cash (not sure on this), then no bank is involved.

**jojoampt** · 08-30-2008 06:45 PM

you need to get a release of liability form from the dmv and mail it in. this will release you of all liability for the vehicle. then, have the guy write the check for the amount you owe to AFS and mail it to them. have him give you the extra 2000$. hand him the keys and tell him youll give him the title as soon as it arrives from AFS. they might even mail it directly to him if you ask.

**B6480Avant** · 08-30-2008 06:45 PM

well if he is paying cash then im not sure if he isn't go to his bank it works both ways. when i bought my audi they guy didnt have it paid off and his bank was in the east coast we were in arizona it worked out fine just make sure you take your bank info/current registration etc. . to his bank

**aspw** · 08-30-2008 07:05 PM

jojoampt there is no "release of liability" form on the MO DMV site. However, there is a lien release form, maybe that is it? my god this is so darn confusing. I might just need to call the DMV and AFS on tuesday.