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View Full Version : Buying a car with a lean on it...



Xiled1
08-11-2008, 01:25 PM
If you buy a used car that still has a loan to pay off and its from a private seller, what kind of paper work should you get to make sure you get the title?

I've got the bill of sale from the DMV, but that does not specifically cover that issue.

I know in some cases, you can go straight to the bank and pay them, then they will send the title to you.

Just looking for a little extra piece of mind.

04jeeptj
08-11-2008, 01:32 PM
I would contact the bank with the seller, go there if you can, and have the check written to the bank and the seller. That way the seller cant just cash the check and disappear.

Jdemonto
08-11-2008, 03:05 PM
Go to the bank with the seller

Jason

BW-CJ7
08-11-2008, 03:29 PM
x3 go to the bank with the seller... pretty easy though

mingoglia
08-11-2008, 03:54 PM
x4. I always conduct such a transaction at the bank. They're experts in such exchanges and they typically have a notary on staff.

terron gregg
08-11-2008, 03:57 PM
go to the bank with the seller

mingoglia
08-11-2008, 04:20 PM
You should probably go to the bank with the seller. ;)

terron gregg
08-11-2008, 04:26 PM
what are the chances that he wont go to the bank with the seller ?

OlneyJeeps
08-11-2008, 08:21 PM
I've heard you should go to bank with seller:aagh:

banks have lien release forms on hand

Bilt4Comfort
08-11-2008, 08:28 PM
Go to a bank with a teller.

Howyadoin
08-11-2008, 09:46 PM
Or...............you could go to the bank with the seller. .02

weasel_ugs
08-11-2008, 10:40 PM
I bet he allready didnt go to the bank with the seller:) Don

Xiled1
08-12-2008, 08:41 AM
I've Got It! I'll go to the bank with the seller!

Seriously, we are going to meet at Wells Fargo, but his loan is through Chrysler Financial. So I am hoping that I can just write the check to them and then they can send me the paper work directly.