the guy who “purchased” the car as a project couldn’t have purchased it if it has a lean on it. He could physically give the guy money and that guy could sign the title with lean, but it’s not really sold because he never had clean title to buy it without a lean release letter and / or clean title.
This isn’t that big of a deal.
Not true. I registered my 240 with a lien on it because I trusted the previous seller (addicted2boots) when he told me he had paid it off. A few months later when I finally received the lien release I took it to the DMV and got a new title.
If the car is worth it, here’s how you can deal with it:
Lien:
Call the lender, they can give you information on whether the car is paid off. If it is, talk to them about how to obtain a lien release, it may take a few weeks but this isn’t a problem (see above)
Title:
(First ensure that the vin is clean)
Lets say the owner on the title is A, the guy on grider selling it is B and you’re C.
On the title there is a spot for a seller and buyer.
- If The SELLER is listed as A and the BUYER is blank, just fill in your information.
- If the SELLER is blank and the BUYER is blank, if it were me, I’d just forge A's info and go to the DMV, not “right” but honestly it’s a 1200 dollar car. They won’t care.
- If B's info is anywhere on the title, you’re probably in for a world of shit, and will have to contact A in order to get a new title.
Bill of sale, just forge something. As long as it’s not hot (verified) who the F cares, the DMV won’t. People are ALWAYS forging BOSs to pay less on tax… and that’s ripping off the state… so they’d be even more alert to that shit.
I would think that since the lean holder has a stake in the ownership of the car they would need to approve the transaction unless it’s paid off and they have no interest.
or am I missing something (this is a good topic so I’m happy to be wrong and learn)
I couldn’t just go buy a new escalade and sell it to some random person who pays me $500 for it while I still owe $50000?
PM sent.
Agree…
You could, but they would now be responsible for the loan. When they register it they are taking responsibility for the lien. That’s why it’s on the title. So you could buy an escalade, sell it for 500 dollars to someone stupid enough to register it with the lien on it, and then when you defaulted on the loan, they would come repo the car from the new owner, who would be out 500 dollars, basically…
Also:
LIEN
It doesn’t make the loan go away…You still owe 50,000 to the bank. You just don’t have anything to show for it. When you default, they take their car back from whoever is the current title holder. Then the loan default hits your credit like a half-ton of bricks. As stated above in newman’s post, the dumb schmuck that was dumb enough to think the deal was legit is out his money AND his car.
In North Carolina, this is a lot less complicated. When you buy a car and take a loan on it, the bank holds the title. You don’t get the title for the car until the loan is paid off.
lol this is a fun thread, I did call the guy and he is all let down about the whole thing, he’s like, “imma just get rid of it”, but I told him to give me a call, he was just driving it around with no plates lol… idk like I said the car runs, drives, is not rotted out… but needs seats because they are torn, and I would have to un-nigga-rig the whole car! thats what I’m worried about, but like I said it runs and drives fine…
If I were you, I would just lowball him and try to work it out. Worst case scenario, you part the car out and sell the shell as a race car with no title.
Just make sure the car is not stolen.
Which of the 3 title scenarios I listed above is the car currently in?
1
The guy that the seller bought from filled out the sellers info. The guy I’m trying to buy it from didn’t write a thing. I just need to find out if there is a lien. Tried to call the seller… Still waiting for return call.
It wouldn’t bother me a bit to buy a car from someone that never registered it.
- Find out about the lien
- lowball seller, just because
- burnouts
this guy wins.
i’ve bought and sold at least a dozen cars like this… in Ontario mind you.
the last time i did this was like 2 months ago. I bought a car for $800 off a friend who was going to donate it… put some money into it to get it safetied and e-tested… then my sister said she didnt want it… i was going to GIVE it to her.
i put it on kijiji and just said that the name on the ownership was my wife… it wasnt. woopty. sold in 2 weeks. sometimes things only appear sketchy because you know to many details… sometimes it’s perfectly reasonable stuff. if you really want the car you should pursue it. if its a hassle hten you should get a better price… give the guy $600 and take possession immediately and figure the rest out over time. Gives you some room if you need to slip the owner on title a $100 to do the paper work.
the dmv just wants to charge tax twice… screw them.
Yup. It’s common for project cars- You buy it, it sits in the garage for a few years, you give up on it or decide you don’t really want it, then sell it without ever registering it. I’ve done it, and I’ve bought several cars like that. No use giving NYS more money and waiting for a new title. I never fill in buyer info on a title until I’m in the DMV line registering it. My Jeep went though 2 previous owners who never titled it before I fixed it and put it on the road. I’ve also bought not one, but 2 cars that were registered to people who were deceased, titles in their names still, with receipts. For a car that old DMV could care less.
This is why I don’t sign the back of a title till I’m at the dmv
I’ve had to deal with these issues on 2 cars previously. Both worked out well for me
Double post.
Ignore the title jumping issue, that is common and not a big deal. Call the bank on the title, tell them you are a dealer looking for the loan pay off amount so you can figure out the trade in. They will tell you if there is money owed or not. If its free and clear, buy it. You can usually tell by the date on the title and what bank it is. If it says EZloan or any FCU, then there is an actual chance someone owes money on it. If it is a major bank or ford themselves then they would never finance an old car and the loan was likely gone many years ago.
just run the vin
Lol just dealt with this the other day.
Some fool tried telling me it was okay to title hop me a title that was signed and dated 2009. Yeah, like that would fly since the large bold font clearly says : Must be registered within 30 days of signature date or title is void
Newman is totally right.
Is that a new thing? I’ve bought cars and waited to register them more times than I can count. At least for older cars, they never question the sale price, and sometimes don’t even look at the receipt. Just don’t make a stray mark anywhere on the title. The last registered owner of my Jeep marked “has” instead of “has not” for exceeding mileage or something, crossed it off and initialed it, so they rejected it. I tracked him down by asking the last 2 people who flipped it for his info, met him at his DMV, paid the $20 for a new title in his name, and had the DMV send it directly to me. It’s easy if they will work with you, if not, money talks. I think it took 10 days or so.