I am selling my 04 Berlina S soon (within the next 3-4 weeks). I bought it back in January and really don't want to get rid of it but I just bought a house and am closing on it on May 30th. I'd love to keep my S but I think a house is more important plus its my first house.

My question is, I financed my car through Honda. Am I suppose to have a title or do they hold that until the cars paid off? The reason I ask is because I want to sell my car privately instead of trading it in on another car because I dont want to get ripped off on the trade in value.

So if I were to sell my car privately what would I need to do or what does the seller need to sign. I live in MD and I am not sure if I'm suppose to have the title to my car. Any help would be appreciated.

I now understand that Honda America has the lien title to my car and they will send me this once the car is paid in full. Somone else had mentioned that I should have a copy of this title from when I bought the car and that the buyer will need this and the lien title? I don't believe I recieved this when I bought the car from a Honda dealership in New Jersey. Do they have different laws for issueing titles?

 

you have to go to your bank and get a lien release..i just bought a car off someone here and it took them about a week to get the lien release on the car..i am about to sell on of my car and I bank with Navy Federal and i can get a lien release the same day..so i think it depends on the bank how quickly you get it..but the day of selling it you do need to sign the title that has the lien on it to the person buying it over and then give the lien release to them when u receive it or they wont be able to title it without it

 

Where do I get the title that has the lien on it. Does the MVA have that if I don't?

 

I bought my car from someone who had a lein through honda. You should have your original title, on the bottom of the title where it has interest holding parties it will list honda of america....

If you want to sell your car, the person who is buying it from you will have to come up with the amount to cover however much is left on the car, honda will then fax/mail you a lein release stating the car has been paid and they no longer hold any interest in the car. This you take to the MVA along with your current title (or you give to the new owner with your signature on the back of the title) and the mva will issure you a new title. If you don't have your current title, you can apply for a replacement from the MVA for $25. Good luck.

It's a fairly simple process I had it done in one day and 2 hours at the bank. (arrive, forward payment to honda, get lein release, drive to the mva)

 

from what i know (i work in the car biz).... get ahold of honda and let them know what's going on. that way if you sell the car you can get the balance check down to them and maybe they can expedite overnighting your lein release to you.

did you get the title you are suppose to have squared away?

i didn't think about what ibe (insert name) said above. if your bank can forward the money to honda finance that would be kickass

 

Thanks everyone. I can't seem to find this title in my car, so I think I'll just drop by the MVA and get a replacement one. Is selling a car privately that easy. Have them write me a check, I pay the lien holder (American Honda), then send the lien title to the buyer. Is there any legal things I need to worry about? or any clauses I need to write up? thanks

 

Also have a bill of sale written up stating the name of the buyer, the mileage on the car, the year, make, model, and VIN (very important), and also the selling price. Also it would be helpful to put in writing that you are no longer responsible for any damages the car may incurr under the new owner and all that jazz..... Have it noterized by a notary, I think most credit unions, banks, and even post offices offer this service if needed. It aids in the selling process. Also don't expect to go to the MVA and get a new title that day, you have to apply for it and they mail it to you. It takes 4-7 days I beleive to have it processed, I had to file for a new one when I bought the car since the MVA lost my original in the mail. (sent it to someone else by accedent). You can download a application for a new title off their website (www.marylandmva.com) and mail your payment in. Might aswell do that now.

 

If your bank has billpay options setup with a particular institution you can even do it online. Keep in mind this usually takes 1-3 days depending on the institution you are sending payment to. If you show up in person and request it a bank rep will be able to take care of it for you the same day and really expidite the process... Thats what I did.

 

just type up a bill of sale stating the as is purchase and you have no other binding to this car with the signing of the bill of sale and you should be good

 

Thanks everyone, your suggestions really answered alot of questions I had. I appreciate it. Thanks again