Selling an RV with a lien

There is an element of risk here, but . . . . . the potential buyer should independently confirm the outstanding loan balance with your finance company, then negotiate the difference between the sales price and the loan payoff amount with you. (the registered owner) The buyer meets your bank representative and confirms independently with them ALL the conditions of sale and title transfer. The buyer pays you (to your satisfaction) the difference between the sales price and the loan balance (your equity) and takes the signed over registration, (seller releases interest in vehicle) a signed, dated bill of sale, (written by you) the vehicle, and YOU to the bank where the buyer pays off the loan to the banks satisfaction. The bank releases the lien. YOU must accompany the buyer (in the vehicle) to the bank and make sure they pay the loan off prior to letting them drive away in the vehicle. (VERY IMPORTANT) Do not let the vehicle go (for any reason) until YOU have confirmed with the bank that the loan is paid in full to the banks satisfaction. (not yours) IMO, that will minimize (not eliminate) the chances of getting burned. This is NOT the time to listen to ANY fast talking wheeler dealer. If you feel uncomfortable for any reason, . . . STOP, and wait until you feel comfortable! In this type of transaction, time is your friend and the enemy of the potential scammer. Use your time wisely.


Chum lee