Selling A Camper With A Lien On It

[Matthaias]

I have a 2019 Grandby that I still owe on the loan and have a lien on it. My third kid is on the way and the camper no longer makes sense for us. I want to sell it, but I don’t have the money to pay off the loan. Has anyone here had experience with this that can give some advice?

Thanks!

 

[Wandering Sagebrush]

One way to do this is for both you and the buyer to meet at the lender’s to exchange money and title. But the best advice I can offer is speak to your lender to find out what their process is.

 

[wcj]

Buyer pays off the lien and gives you your equity in the camper. If a local bank make it a three way visit. Bank gets lien paid, gives buyer lien release, buyer gives you balance of sales price, you give buyer the title to go with the lien release.

 

[Kolockum]

I have done this with a vehicle. We met at the bank that held the loan. I gave the banker my check, he took the loan amount out of it and deposited the rest in the sellers bank account. Then the banker gave me the title. For expensive purchases from private parties I actually prefer this process.

 

[Living The Dream]

When I bought my truck, this was the situation. The previous owner had a lien, we met at the bank, I paid the bank, the bank cleared the check and signed the title over to me, the seller took home the cash. If you do this,

1. make sure you are getting a cashier check, the seller's bank would not take personal check for this (and get it done in same day).
2. Go early. I went at like 4:30, ended up being their till like 6:30, the poor bankers where not happy with staying late. Make the buyer come early.

Talk to your bank, they have seen this many times before. Its pretty seamless.

Congrats on kiddo #3