Selling my car- how do I get pink slip?

[jlhopwo]

I'm privately selling my car. I'm upside down on it, so I will need to front some money (a couple grand) in addition to the sale money. It's financed through honda. My question is, how do I get the pink slip? Do we (the buyer and I) go to the honda dealership (or somewhere else) together, put our monies together, and pay it off? Or is there some other way?

Thanks!

[paroxysm]

You have to pay off the car, doesn't matter how. Once thats done, Honda (of the financing company) should automatically issue a pink slip to you. At that point you can sign over the pink slip. If it were ME I'd go take a personal loan out from my bank, pay off the car, and get the pink slip. Then, sell the car and pay off the loan immediately. If I were a buyer I'd be weary of having to pool my money with the current owners to pay off the car, then *maybe* get the pink signed at a later date.

[davidji]

I'm privately selling my car. I'm upside down on it, so I will need to front some money (a couple grand) in addition to the sale money. It's financed through honda. My question is, how do I get the pink slip? Do we (the buyer and I) go to the honda dealership (or somewhere else) together, put our monies together, and pay it off? Or is there some other way?
Financed through Honda? Where is the title held?

If the title is held locally, you & the buyer may be able to do the transaction at the finance company--since you're upside down, it could involve the buyer giving the finance co one cashiers check, and you giving them another cashiers check, and them giving the title to the buyer. When I've done it, I gave the seller one check, the finance co another, and they gave me title.

If the title isn't held locally, better to pay it off first--it has to hurt the value if the buyer can't get the title in direct exchange for his $$, since a lot of buyers wouldn't touch that transaction.

[lc1526]

I got lucked out, sold my truck without having the pink slip in hand and buyer gaved me 11 thousand cash to pay off the loan. We sign a Bill of Sale, pay off my loan and waited three weeks to get the pink slip. Handed over the slip and both party is happy.