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Hey -- a friend of mine is trying to sell a car she's still making payments on. Her asking price is basically just enough to cover the remaining loan amount, primarily to get out of debt on the vehicle.
The main question is -- is there an accepted practice as to how to handle the transaction of paying off the loan to get the title from her bank, then signing the title over to the new buyer? Does anyone have experience with this? All my experience, and everyone I've spoken with, has dealt with selling cars they're already in full ownership of.
If anyone has done this, or knows how people generally handle this type of transaction, from both the buyer and seller perspective, an advice would be great.