Purchasing a vehicle with a lien or taking in a trade-in vehicle with a lien can make the car-selling process more complex for car dealerships. That is exactly one of the reasons that Consolidated Automotive Services of Indiana exists. Our goal is to assist auto dealerships in making the car selling or car buying process easier and simpler for you. Below are four different ways we can help you sell vehicles that have liens on them. Keep reading to learn how.
1. Conduct Lien Searches
One of our most common services is conducting lien searches. With our efficient process, we can discover the balance owed on a vehicle as well as who holds the actual lien. Liens are not only placed on vehicles by banks and lending institutions. They can also be placed by mechanics or auto shops, towing companies, and storage companies.
2. Perform Title Transfers
When there’s a lien on a vehicle that someone wishes to trade into your dealership, it typically involves filing more complex paperwork. At Consolidated Automotive, we take care of the entire title transfer process, from dealing directly with the lending institution that holds the lien to transferring the title to the dealership.
3. File Lien Placements
Our team can take care of filing all lien placements, whether they are with the dealership’s finance institution or a completely different lending company. We will work with your state’s Department of Motor Vehicles as well as the financial institution, ensuring all required paperwork and documentation are handled correctly and efficiently.
4. Transfer Liens to Different Buyers
There are some situations where an existing lien on a vehicle can be transferred directly to the new buyer. This process can be a bit more complex. First, the buyer needs to financially qualify in order to assume the existing lien contract. Second, there may be additional fees that the buyer may not want to pay. While it can be an expensive and long process for the buyer, it may be worthwhile to them if the vehicle is in excellent shape or has low mileage.
Save Time with Our Services
Contact us today at (812) 329-0369 to request a quote for our lien placement services. We work with DMVs from all 50 states and provide many other vehicle title services such as replacement titles, UCC filings, and repossession titles.
Preston, Benjamin. “Selling a Car with a Lien.” Blog article. Kelley Blue Book Co. Inc. 31. Jul. 2019. Web. 06 Nov. 2020.