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i have a loan through Toyota and selling truck (08 tundra). selling for 21k....owe 16k on truck. anyone know how it works?? i have form toyota sent me to fill out to put title/owner in new person's name, but does he sen the payoff to toyota and give me the difference??

any help is appreciated

thks
 

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My wife and I were in a similar situation when we were selling her Saturn. It was financed through our insurance company (USAA) and they told us the buyer could write only one check, but it would be quite some time before we got the difference back from them so he suggested we have the person write two separate checks. Don't know how Toyota works, but I'd say try to get the person to write two checks if you want to see the difference anytime soon.
 
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