Has anyone bought a car with a Lien on it?
08-06-2007, 05:08 PM
#1
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Has anyone bought a car with a Lien on it?
Looking at a Passat that has a Lien on it. Presumably when I pay for it, current owner can pay the loan, get the title back, then send it to me. Sounds dodgy though. Can't they take the money and run?
08-06-2007, 07:38 PM
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No, but I've sold one before with a lien on it.
I believe you can download or view a bill of sale at the DMV website. What I did was draw up a contract, advising the buyer that the balance of the loan would be paid off and the pink slip would be signed over to him upon receipt.
08-07-2007, 11:02 PM
#6
Yes. Don't do it
Find out the Account number & Finance company and give them a call. It's usually up to the owner to settle in order to get the title. You hand-over money when get the title, simple as that.
08-16-2007, 10:09 PM
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yeah. it's not a problem. you usually have to make the check out directly to the finance company
dont buy a car for less money than is owed, unless the owner is prepared to give you cash on the spot for the difference.
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