[Gozer]

Originally Posted by Ruttiger

At the risk of displaying my ignorance (cue the jokes about being an Oilers fan), I have a question about liens. I'm selling a vehicle that was financed through the dealership. The loan ended up going through ATB Financial and was assigned to a branch I used to work at a few years ago. So the loan is through ATB and doesn't seem to have anything to do with the dealership.

Does this qualify as a lien? If I'm not able to sell it for what's owing and I have a small balance left on the loan, does is this considered a lien? Or is it simply a loan from the bank's point of view and whether I sell the truck or not has very little bearing on the status of the loan? Thanks in advance for the help.

Edit: misinformer! see below

If there is simply money still owed on the debt then you wouldn't be liened.

If you didn't pay what you owe the bank and time has passed they may have (probably did) lien it, and you would be required to pay them back before legally selling the vehicle.