I have a Honda Passport which I leased last October and now I want to sell the vehicle. In order to sell it outside, I would have to buy it first. If lets say I buy it outright (not through loan), in how many days can I get title in hand to sell it outside?
Any other option to sell it easily?
Took me about a month to get the lessor released title. From there, it depends on how long your state takes to issue a new title.
Yep, you can walk into a Honda or Acura (I think) dealer then trade/sell it. Avoid the above mentioned title BS.
Anyone who can arrange for a Honda/Acura dealership to send the payment to Honda Financial can buy it.
Autonation, Rodo, Carshop, Driveway, etc. plus individual Honda and Acura dealers.
so you are saying i can sell it to Autonation, Rodo, Carshop, Driveway, etc and they can send the payment directly to honda financial and give me any price difference to me on spot and I will be done with transaction?
Yes.
Every one of these has their own processes for paying the equity to the consumer. For example, Carshop does not pay on the spot. Checks are issued from a corporate office in 1-2 business days while Driveway’s timeline seems to vary a lot. Read the review thread for each one.
IME cargurus has offered the highest on Honda but like others pointed out it takes time. Data point friend had tittle in hand after 2 weeks
Hey!
in how many days did you get the registration/title after paying off the car?
Received updated registration from DMV 4 weeks after the bank bought out Honda lease.
which state?
Don’t forget that after you receive the title from Honda, you might need to remove the liens from the title before you can sell the car. That process to remove the liens, in new york state took about 3 weeks. So 1 month to get my title from MBFS and another 3 weeks to get clean title. It’s a pain in the ass, but I guess worth it if you have some equity in your vehicle. I also did this during peak season (Jan of this year), so maybe things have slowed down now.
For what it’s worth I just sold a car with a lien on the title, but also a release letter from the lender. In NY apparently you can get the clean title as you mention or just keep the encumbered one with letter. Saved me having to wait for additional processing time.
You either got lucky. Or I got unlucky. I tried to sell my GLS through vroom, carvana and they both dined me even though I had a letter of lien release from MBFS.
I also got denied from trading into a Toyota dealership and Porsche dealership for the same reason.
Great to know. This was Carmax. I do recall when I got the original release letter it said I could either get a clear title or combine them. But…I lost it, so got a new release letter and carmax was happy to take it with the title. I should have gotten the original, though. I was lazy!
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