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  1. #1
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    Question: Procedure to sell a financed ski

    Since my skis will be for sale soon, what is the best way to sell them? They are financed and I basically owe what they are worth. I cant see anyone giving $15,000 to me without the titles, and is it possible to sell one of them or do both have to be sold to get the titles? I have never sold anything I still owed on so I got no clue. Do I give someone a bill of sale and tell them to wait for the finance company to send me the titles once I pay the loan off. Is it possible for someone to refinance them in their name? I doubt someone will want both. What have you guys done?


  2. #2
    GTXX's Avatar
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    you will need to complete the transaction at the bank that you have financed them through at and let the seller pay directly to the bank. Sometimes if cash is used to pay-off and the bank has sufficient warning they will have the statement of origin ready for the buyer at that time. If they are financed through someplace not local to you it can get real tricky and I don't have a good solution for that. If the buyer pays with a check and he financed the money, he can bring the info with him to your lender and you lender will take that info and send the titles directly to his lender.
    Last edited by GTXX; 04-08-2007 at 11:03 AM.

  3. #3
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    Thats the problem, not a local lender. I can see making it happen if someone wanted to get their own financing, basically a paperwork issue at that point. Problem is someone paying cash. Guess the financing company could set up an escrow type account to keep all parties safe.

  4. #4
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    Escrow account. First call finance company,,they`ll walk you through the transaction.

  5. #5
    GTXX's Avatar
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    easiest solution would be to immediately go get a loan locally and pay off your ski's. If you have the credit to just get a 90 day note, do that so all of the ski documentation will come directly to you. Might cost you a few dollars for a loan application but it also might help you to sucessfully sell your ski's.

  6. #6
    cheatin' piston popper addicted's Avatar
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    I had the same problem when I went to sell a car. The bank refused to have the title shipped to the branch so that the sale could take place there in cash. I had to borrow the $$ to pay off my loan, beg and plead for the main office to fedex the title,and then do the deal with the new buyer. Worst part was that the stupid bank did not credit the payoff for a few days so that it could clear I paid CASH!

    I'd ask the lender where the title is and how long it will take for it to be sent to you, and decide from there. Maybe a cash advance on a CC or a short term personal loan, or a rich relitive?

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