Car Lein Release Question

NYSpeed Automotive
1

I am being forced to post and ask this question.

On Monday, my son, is planning to buy a car from another board member.

The car he is buying, has a lein on it.

Now my son, can give him cash…so there’s no waiting for a check to clear.

So, on Monday, when they go to the bank to pay off the lein…the bank will give them a lein release notice.

The bank is telling my son…the old owner, needs to come to the DMV with him, and bring the lein release form.

He doesn’t want to inconvience the guy, and would rather just take the release form…himself, and show that it’s paid off.

Is that possible? Or does the previous owner, have to physically come in, and bring the form with him?

Thanks A Lot.

  • Dan
2

Nope, not required. As long as there is a bill of sale (reciept), Signed title, and bank-letter-headed lein release you don’t need anything else.

Done it a bunch of times before on both sides; seller and buyer.

3

Anyone else?

4

:word: 97formula is right, went through this situation a few times myself and had no problem at all

5

So if the bank issues him a release statement, THAT DAY. Cause he’s paying it off with cash…

he can just give it to Adam to take to the DMV?

and thanks. Thats all.

6

yeap…it should be find

7

THANKS!

8

Keep in mind some banks are pretty ghey about processing things and there is a chance that you don’t get the release “that day”.

X…

9

make sure everything is properly notarized, meaning the title and the lein release and the bill of sale and it won’t be a problem.

10

he is correct, just did it about 2 wks ago

11

could your son please bring me his old 2.0 motor to my house.

12

as long as he isn’t buying the EVO

13

yep, Mario had a lein on the Z was no big deal as long as u have title and lein release with receipt

14

If the car has a lein, for lets say $10,000.

And the seller writes him, a reciept for $2,000.

Is that going to be a problem?

Or do they have to be the same amount?

15

well that sounds illegal to me

16

True. It took M&T 3 WEEKS to process my lein release. I was livid!

17

Thanks.

Can I get a decent/real answer?

18

Not if you pay it off in cash…or atleast thats what the bank told me. I’m planning on giving Adam the amount to buy the car in cash.

19

What bank is this? M&T told me that I could not pay it off in cash so I had to use a check.

And yes if you get the lein release that day, Adam can take it to the DMV and register the car. The original owner has nothing to do with it at that point.

20

HSBC.

We talked to them today.

They said a cashiers check would also clear that day.