Selling a car in Calif. and Title transfer...whats up??

[Sonic dB]

Im selling my Acura (not my 911) and there is a lien on the title. US Bank holds the title and they tell me that they will not release the title until 10 days after the loan is paid off.

How the heck do I sell the car then? Is this supposed to be standard proceedure in Calif?

The reason I ask is back in Michigan, the holder of the vehicle holds the title and just signs it over to the new owner.

Here, it appears to be a big hassle...is this how its supposed to work in California?:

* Guy gives me money for the car. I pay off the remaining loan.
* 10 days go by and then the lien holder sends me the title.
* I sign the title over to the new guy and he takes the car and signed title.

WTF?? That doesnt make sense! What guy in his right mind is gonna give me the money up front for the car and then expect me to not give him the title right away!!?

Any advice?

[jyl]

That is how it works. Search prior threads for discussion of this, from the buyer's perspective. I've bought two cars this way in the past few years. A buyer who is familiar with buying used cars in CA shouldn't be surprised at this.

[brawlins]

I bought a car from a guy who had a lien on the car - Title was held by the bank. (This car was for my teenage son.) Here's how we worked the deal:
Car purchase price was $7500.
He owed the bank $3500.
I (not he) wrote a check to the bank to pay off the $3500 balance. (We called the bank together to verify the balance.)
I gave him $2000 immediately.
He gave me the car with a bill of sale specifying the terms.
I held the last $2000 back from him until he delivered the title to me.
He had no interest in keeping the title since I have the car and his last $2000.
I have no interest in stiffing him the last $2000 because I can't get a permanent license plate for the car until he gives me the title. Plus he knows where I live. (We did the deal at my house.)

So, when he got the title, he signed it over to me, and I gave him $2000.
Deal complete.