Selling a used vehicle before paying off the loan

[legalhelp]

A friend of mine is selling his vehicle and has the following questions he needs answered.

First of all the owner of the vehicle is financing the car and has roughly $25,000 remaining before the loan is paid in full. The questions are listed below:

1) Can he list this vehicle for sale, collect payment and THEN pay off the loan?

or

2) Does the loan need to be paid off in full before he can list the vehicle for sale.

3) Is it possible to transfer the loan to a new buyer if the buyer is approved (is this even possible?)

Any help is appreciated.

[mariah26]

As far as in my knowledge it is necessary to pay off loan............

[jimb12345]

no you are fine. you just have to tell the buyer. then when he buys and you pay off the loan. then the title well be sent to the buyer. just check with dmv and the bank.

[Trial2Day]

as the person above me mentioned... the new buyer won't have access to the title of the vehicle until the loan is paid off. At that point the title can be transferred.