safe to buy a car when title is held due to loan?
10-13-2006, 04:54 PM
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safe to buy a car when title is held due to loan?
what do u guys think..im traveling to get a car...everything sounds good but the title...he has to pay off the title then send it to me...would u guys do that? ne pros/cons u guys have lmk
10-13-2006, 05:01 PM
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Re: safe to buy a car when title is held due to loan? (needforvtec)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by needforvtec »</TD></TR><TR><TD CLASS="quote">what do u guys think..im traveling to get a car...everything sounds good but the title...he has to pay off the title then send it to me...would u guys do that? ne pros/cons u guys have lmk</TD></TR></TABLE>
Hell NO!! He can transfer the car that he has on his loan , so dont buy a car until he has the pink slip. If he doesnt pay his loan you can lose ur car
Hell NO!! He can transfer the car that he has on his loan , so dont buy a car until he has the pink slip. If he doesnt pay his loan you can lose ur car
10-13-2006, 05:04 PM
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Re: safe to buy a car when title is held due to loan? (YodajdmEK4)
really? ok..thanks for the info..i had a bad feeling bout this...just want to make sure....he siad once he gets my check he'll pay it off next week?? i heard lot of scams....but he sounds very honest and straight forward...
10-13-2006, 05:07 PM
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Re: safe to buy a car when title is held due to loan? (needforvtec)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by needforvtec »</TD></TR><TR><TD CLASS="quote">really? ok..thanks for the info..i had a bad feeling bout this...just want to make sure....he siad once he gets my check he'll pay it off next week?? i heard lot of scams....but he sounds very honest and straight forward...</TD></TR></TABLE>
no guarantee. see if you can pay off the loan, and give him the difference with the purchasing price, but have the title transferred in your name from the loan company. otherwise, don't do it. you could very well lose the car.
no guarantee. see if you can pay off the loan, and give him the difference with the purchasing price, but have the title transferred in your name from the loan company. otherwise, don't do it. you could very well lose the car.
10-13-2006, 06:28 PM
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Re: safe to buy a car when title is held due to loan? (thahuhstunna)
Just like the guy upstair just said...
You could buy it... Only if you go with him and do a loan transfer to your name and pay it off right there with the info in your name...
You could buy it... Only if you go with him and do a loan transfer to your name and pay it off right there with the info in your name...
10-13-2006, 06:57 PM
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Re: safe to buy a car when title is held due to loan? (DC_RaceR)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by DC_RaceR »</TD></TR><TR><TD CLASS="quote">Just like the guy upstair just said...
You could buy it... Only if you go with him and do a loan transfer to your name and pay it off right there with the info in your name... </TD></TR></TABLE>
This is what I ended up doing. I did a test drive, we went to the bank. He paid the loan off, I got the title & drove the car home.
Just be sure to take CASH. or his bank will wait for the check to clear.
You could buy it... Only if you go with him and do a loan transfer to your name and pay it off right there with the info in your name... </TD></TR></TABLE>
This is what I ended up doing. I did a test drive, we went to the bank. He paid the loan off, I got the title & drove the car home.
Just be sure to take CASH. or his bank will wait for the check to clear.
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10-13-2006, 07:07 PM
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Re: safe to buy a car when title is held due to loan? (needforvtec)
When I sold my car the buyer went through the same thing. The day they bought my car, the bank was closed later that day so we couldn't go to the bank. Just send money straight to the loan office and tell them your buying that car and wanna make sure it was legit. Do your research first before you buy.
10-13-2006, 08:04 PM
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Re: safe to buy a car when title is held due to loan? (94JDMcivic)
Nothing unusual here. Peaple take out loans to buy cars ALL THE TIME!!! And under those circumstances the bank holds the title until the loan is paid off. Many sellers can't afford to pay off the loan and then sell the car so they use the money from the sale to pay it off. No big deal. Best way to do it was stated above. Go to the bank with the seller and some cash and get the deal done then and there. Even cashiers checks need to clear overnight (which is bullshit).
10-13-2006, 08:16 PM
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Re: safe to buy a car when title is held due to loan? (sql_civic)
the guys title is not at a bank but on some eloan from the internet...and plust hes 900 miles from where i live. I was suppose to fly out in the morning to get the car..but change of heart....had a bad feeling bout it...lost 89 dollars from a one way ticket but rather lose that money then possibly the whole car...thanks for the inputs guys
10-14-2006, 05:14 AM
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1st, make the check payable to his lein holder, NOT him, they will send him any extra left over from the loan. you can usually call them yourself to set this up, just tell them you are purchasing a car they currently have a loan out for and they should be able to tell you who to make the check out to and where to send it.
2nd, get a bill of sale. you can usually find free copies online at your state DMV website, just fill in all the related info. these are legally binding documents, once he signs them then he must follow through with the sale conditions. make sure you each get a copy, and have someone else there to witness and sign it as well.
2nd, get a bill of sale. you can usually find free copies online at your state DMV website, just fill in all the related info. these are legally binding documents, once he signs them then he must follow through with the sale conditions. make sure you each get a copy, and have someone else there to witness and sign it as well.
10-14-2006, 05:24 AM
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Re: safe to buy a car when title is held due to loan? (needforvtec)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by needforvtec »</TD></TR><TR><TD CLASS="quote">the guys title is not at a bank but on some eloan from the internet...and plust hes 900 miles from where i live. I was suppose to fly out in the morning to get the car..but change of heart....had a bad feeling bout it...lost 89 dollars from a one way ticket but rather lose that money then possibly the whole car...thanks for the inputs guys</TD></TR></TABLE>
Flying out for a car? I hope this is a vehicle of your dreams or something.
Flying out for a car? I hope this is a vehicle of your dreams or something.
10-14-2006, 02:33 PM
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i have been on honda-tech for a long time and and have alot of people that can stand up for me
and jerry back out without even telling me, i wonted at the airport for 4 hours
thanxs alot
jerry
and jerry back out without even telling me, i wonted at the airport for 4 hours
thanxs alot
jerry
10-18-2006, 04:45 PM
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Re: (b18c1guy)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by b18c1guy »</TD></TR><TR><TD CLASS="quote">ttt</TD></TR></TABLE>
Why are you bumping a thread that doesn't need to be bumped.. He didn't want the car
/thread.
Why are you bumping a thread that doesn't need to be bumped.. He didn't want the car
/thread.
10-18-2006, 06:01 PM
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Re: (madlion)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by madlion »</TD></TR><TR><TD CLASS="quote">no title no money. i arranged to meet the guy i bought my si from at the bank so he could pay back his loan. dont let them con you</TD></TR></TABLE>
STOP POSTING!! read the damn thread! this is over, done with.
STOP POSTING!! read the damn thread! this is over, done with.
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