Selling a car to somone who will Finance it.

[JAS21]

Can someone please explain the steps ...

 

When do you handover the Blue Book to the financial institution?

When do you get the cheque from the Financial Institution?

When do you handover the car and how?

 

tks

[JoeW]

1. Blue Book is handed over when you have received your cheque. Until you receive your cheque the original stays with you on your name and they only keep a copy of the blue book.

2. Depends, normally after the paperwork is done.

3. When you have cashed your cheque.

 

That's how we handle our car sales.

[JAS21]

3 hours ago, JoeW said:

1. Blue Book is handed over when you have received your cheque. Until you receive your cheque the original stays with you on your name and they only keep a copy of the blue book.

2. Depends, normally after the paperwork is done.

3. When you have cashed your cheque.

 

That's how we handle our car sales.

Thanks Joe

 

Mrs J has been investigating and finance company have told her ....

 

1...buyer and seller go to Finance Company ...buyer with his paperwork and seller with Blue Book and ID Card ...leaves Blue Book

 

2...seller takes car to LTO and gets it checked ...gets a bit of paper saying it is OK and that is given to the Financial company.

 

3...a week or so later Finance company giver seller the money for the car

 

4...buyer and seller then go to LTO with blue book to change ownership... owners name is Finance company

 

5 ... seller give buyer the car

 

The buyer keeps the Blue Book

 

Does that sound correct to anyone .........

Edited May 14, 2019 by JAS21

[JoeW]

I wouldn't leave the Blue Book with the finance company...as you need it at the LTO.