Bill of Sale.TIP: Call your DMV to see what steps apply to you and get a
There is an example of one on the next page. If your car is paid off, makesure you can find the title (and the lien release, in those states) before
trying to sell your car. Most people don’t own their car outright, though;there’s usually a bank loan (or lease payoff) still to be handled before it can (^)
be sold on the retail market. The only way you can legally sell your vehicleis if you pay it off first. But that doesn’t mean you can’t advertise it, find a
buyer, then pay it off.
The general way it is done is that you contact the lender and get a payoff,with the amount of interest that will be charged each day—called per diem
—so you can calculate the payoff for any date. Then meet your buyer ateither your financial institution (if it has a local branch) or theirs, so you can (^)
transfer funds to the institution that has the lien on your car.
Authorization of Payoff form and perhaps an Odometer statement. TIP: When you call your lender, you will need to get their^