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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Selling a Car/Paying off loan Question
I know I should just call Ford- but I don't feel like speaking to them today
so let's say I sell my car tomorrow (please pray for me lol)
the buyers gives me a check for the car (bank check - but he isn't a stranger)
what is the best way to get the money to Ford Motor Credit?
wire it? send a check? will they take it over the phone?
I can give the buyer the title I have- but I need to get him a clean title- which I know will take 10 days from the pay off date (I already asked about that a while ago)
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Posted 4/19/10 12:29 PM  |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Selling a Car/Paying off loan Question
I got a payoff statement (in my case from VW) and then sent an online check from my checking account. It had a different address than where my regular payments went to and then just included my account number. It was processed very quickly!
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| Posted 4/19/10 12:46 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Selling a Car/Paying off loan Question
I called for the payoff amount and paid through my online banking just like I did for the payments. I received a notice in the mail that I will be getting the title and a few days later the title came.
Now I am just holding onto it for leverage  
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| Posted 4/19/10 12:56 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Selling a Car/Paying off loan Question
I got the pay off amount....I will call them once it's offical to send the payment
the first showing is tonight
then 2 other people want to see it if he doesn't take it
and the back up plan is my friend is making the payment this month to buy me time until he has the cash/sells it to someone else or gets a loan to buy it
he really lives in the right area to sell it...since he gets knocks on his door about the car 
my insurace is due next week...so I am hoping to wrap this up in time to not have to pay it 
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| Posted 4/19/10 1:00 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Selling a Car/Paying off loan Question
get a payoff quote.. get the payoff address...and send it in to them.
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| Posted 4/19/10 1:00 PM |
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jen919ifer
LIF Adolescent
Member since 7/08 803 total posts
Name:
Jennifer
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Re: Selling a Car/Paying off loan Question
I pay mine online, so you can prob just do that, but in order to take it off the insurance you need to return the plates, so make sure you go to DMV asap
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| Posted 4/19/10 1:06 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Selling a Car/Paying off loan Question
Posted by Salason
I got a payoff statement (in my case from VW) and then sent an online check from my checking account. It had a different address than where my regular payments went to and then just included my account number. It was processed very quickly!
This is what I did with a Ford Credit car loan when I paid off my car a few years ago and with another lender when we paid off our new car a couple years ago. Payoff payments go to a different address, so you need to get a payoff statement if you are paying off the loan before the reguarl end of payments.
Message edited 4/19/2010 1:20:45 PM.
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| Posted 4/19/10 1:19 PM |
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MeNBobs
*****
Member since 4/07 3765 total posts
Name:
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Re: Selling a Car/Paying off loan Question
I just did this last week for my VW. I printed out my payoff quote from my online account. I called the number for VW credit and spoke with someone in the pay off department. I got an address and a contact to send the check to since online they have a po box.
I sent a certified check via Fed Ex. I also sent a money order for $15 so the lien release could be sent to me over night. I had to wait 1 day to get the lien release but I was able to get a copy faxed to me as soon as they received my payment. Why are they making you wait 10 days?
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| Posted 4/19/10 1:23 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Selling a Car/Paying off loan Question
Posted by MeNBobs
I just did this last week for my VW. I printed out my payoff quote from my online account. I called the number for VW credit and spoke with someone in the pay off department. I got an address and a contact to send the check to since online they have a po box.
I sent a certified check via Fed Ex. I also sent a money order for $15 so the lien release could be sent to me over night. I had to wait 1 day to get the lien release but I was able to get a copy faxed to me as soon as they received my payment. Why are they making you wait 10 days?
it's not that they are making me wait- they just said it can take up to 10 days for the new title...sounds like a standard one size fills all don't call us after 5 days looking for it answer
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| Posted 4/19/10 1:33 PM |
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ILJ619
LIF Adult
Member since 6/06 1985 total posts
Name:
Irene
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Re: Selling a Car/Paying off loan Question
i sent a bank check. also make sure when you pay it off you get a letter for your records. 
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| Posted 4/19/10 4:44 PM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: Selling a Car/Paying off loan Question
Posted by Beth
my insurace is due next week...so I am hoping to wrap this up in time to not have to pay it
some insurance companies will give you a grace period before the insurance would get cancelled. try calling and see if they would do that (i have state farm and their grace period is 10 days). that could buy you a few more days to get the sale done. good luck!
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| Posted 4/19/10 5:45 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Selling a Car/Paying off loan Question
Posted by BlueDiamonds
Posted by Beth
my insurace is due next week...so I am hoping to wrap this up in time to not have to pay it
some insurance companies will give you a grace period before the insurance would get cancelled. try calling and see if they would do that (i have state farm and their grace period is 10 days). that could buy you a few more days to get the sale done. good luck!
I would try that- but my SUV is on the same policy- so if anything I would get a credit for next month
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| Posted 4/19/10 6:04 PM |
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