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post #1 of 5 Old 04-11-2016, 10:07 AM Thread Starter
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Getting a Lien release from Honda Financial

Has anyone recently sold a Honda which you still had a loan with Honda financial, I may be selling my Accord and was wondering how I would get the Lien release from Honda financial immediately after paying it off to hand over to the new owner. In the past I had local banks and would pay off the loan and get the Lien release right then, I know I have to call Honda Financial but see they are having some problems currently so wanted to ask here first

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Rick

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post #2 of 5 Old 04-11-2016, 10:23 AM
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Quote:
Originally Posted by KingR View Post
Has anyone recently sold a Honda which you still had a loan with Honda financial, I may be selling my Accord and was wondering how I would get the Lien release from Honda financial immediately after paying it off to hand over to the new owner. In the past I had local banks and would pay off the loan and get the Lien release right then, I know I have to call Honda Financial but see they are having some problems currently so wanted to ask here first

Thanks,
Rick
Can't speak for Honda. A friend just bought a car from someone who financed through Ford. He had to hand the $ over and take possession of the car without the title. Ford takes 7-10 business days to deliver the title. Thankfully, this had a happy ending, but the friend was really nervous till he got the title in hand. The other party in the sale seemed equally nervous according to my friend.

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post #3 of 5 Old 04-11-2016, 12:08 PM
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It can't be done immediately. It's like a mortgage in that Honda Financial has to pay off the investor. Few if any auto financing companies use their own money. They sell the paper and service the loan for the investor.

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post #4 of 5 Old 04-11-2016, 02:50 PM
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According to the Honda Financial Services webpage, the title will be mailed upon final payment clearance. It does not state a time limit.

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post #5 of 5 Old 04-11-2016, 02:51 PM
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Always write a bill of sale for any private sale. There are plenty of templates online, but your local AAA is probably the bext place to get help.

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