Maybe this should be posted in another forum, but...if I sell my 06 GT and I still owe money on it, how does the whole process work? Does the buyer pay my financial institution directly? When does the transfer of the title take place?

 

It depends, if the buyer finance the purchase the bank or what ever would pay off the note. If he pays cash then you would have to go down and pay the note and get the pink to him. If I was the buyer and paid cash I would go with you to pay the note and fill out the tranfer paper right there and then a trip to the DMV. Bought a truck for my son had the pink in my hand when we left the finance co.

 

When I sold my honda I owed money on it. I signed a form from the buyer's bank which allowed it to directly deal with my bank. They talked to each other, I didn't do anything. The banks transferred titles to each other and I just signed the bill of sale.