Selling my camper

[Chrisplus4]

So I am selling my camper. My balance is $25000 and I sold it for $22000 which leaves a $3000 balance that I am coming out of pocket for. The person buying it is paying cash.

How would this transaction work to get the camper payed for, title released and both parties covered? Anyone do this with experience.

I read somewhere that I give the buyer $3000 and then the buyer writes a check to the lien holder for $25000. When do I release the trailer to the buyer?

[Nascon]

The loan is in your name, you pay the balance. You will get a lien release, you can then transfer ownership.

[Daycruiser]

First, call your lien holder and get your ten day payoff. Ask your lien holder where the title release goes after they receive payment? Some states require that the title release go to DMV and they issue a new title to the buyer, this can take 3 weeks or more. Some lien holders will send the released title to the new owner if you request it that way. In any case you send the payment to the lien holder to insure the camper gets paid off and ask if they can send the released title to the new owner and have them send you a paid in full verification. You can give the camper to the new owners once you have sent certified funds to the lien holder. The new owners will not however be able to register the unit until they have the title so be sure to give them a bill of sale. Depending on yours or their state they may be able to get a 30 day temp permit. My state does not allow that with a private sale so a buyer I had couldn't drive the vehicle I sold him until he received the title from DMV in this case. Took almost 4 weeks, he was not happy. Good 'ol NC, they still ride dinosaurs to work at DMV. Your state may be much more modern.

[Chrisplus4]

Originally Posted by Daycruiser

First, call your lien holder and get your ten day payoff. Ask your lien holder where the title release goes after they receive payment? Some states require that the title release go to DMV and they issue a new title to the buyer, this can take 3 weeks or more. Some lien holders will send the released title to the new owner if you request it that way. In any case you send the payment to the lien holder to insure the camper gets paid off and ask if they can send the released title to the new owner and have them send you a paid in full verification. You can give the camper to the new owners once you have sent certified funds to the lien holder. The new owners will not however be able to register the unit until they have the title so be sure to give them a bill of sale. Depending on yours or their state they may be able to get a 30 day temp permit. My state does not allow that with a private sale so a buyer I had couldn't drive the vehicle I sold him until he received the title from DMV in this case. Took almost 4 weeks, he was not happy. Good 'ol NC, they still ride dinosaurs to work at DMV. Your state may be much more modern.

That’s what I have found out from others. I will call our lien holder in the morning to see how it’s done.