I am worried about the title and how I am going to get the title after I pay him. I am sure this is a normal, routine process, I just have never purchased a car from someone that didn't have the title in-hand. The bank actually owns this car, and I want to make sure I get the title after I pay him for the car.
insidebuy
Favorite Answer
Meet the seller at the bank that holds to note to the car. Pay off the bank with the seller there. If there is anything left over, give that to him. The bank may have the Transfer of Ownership and Transfer of Liability forms that must be signed by you and the seller. But to be sure, go online and download them, or go to your nearest DMV and get them.
The bank will send the Ownership form to their central office that takes care of car loans. They'll release the title and send it to you. It's the seller's responsibility to take the Liability form to the DMV and have it recorded.
Some banks will do all the paperwork for the transfer. But if they don't, it's up to you to get the car registered and titled in your name, once you get the title from the bank.
Private parties tend to take short cuts on the paperwork. They hate to face the DMV. But with an appointment and all the papers in place, you'll be in and out within 30 to 40 minutes. And it will save you from a lot of stress and headaches caused by not following through properly. That always seems to end up biting you in the butt and it can takes weeks or months and a lot of your time to straighten it out.
Anonymous
I am not someone who has been through it and I am sure you will hear from someone who knows--but I would not give any money blind like that. Why not meet him at the bank with cash in hand to settle the deal? He could be honest or not.
I do know for a fact that a lienholder will be listed on the title. What I have only heard of is the practice of the bank holding on to the title. Asking a bank's advice is the best way to go.
Anonymous
i visit anticipate you already understand you have achieved between the main stupidest issues on the face of this earth!! you have easily no way of contacting those human beings?? in any different case i could say decide Judy, yet from adventure you go with a minimum of a telephone style of the human beings. I used to stay in Corvallis for some years....it is not that enormous i could say spend the weekend down there searching on your automobile and want you discover them or a minimum of an address the place they are staying....the police are extremely friendly tell them your subject and instruct your workplace work they'd placed an APB out on the vehicle while you're fortunate!! by no potential sign over your identify without charge that grow to be loopy, then you incredibly've a minimum of stated the vehicle stolen!! tremendously plenty they suckered you out of your automobile and there is not something you're able to do!! yet solid success!
gen patton
i've got news for you. the bank owns the car and they're not giving up the title till they get their money. as far as they are concerned he has the car and HE owes for it. if you buy it from him without the title, you'll never get till the bank is paid. don't be stupid. how are you going to explain that to the law when they pull you over? it looks like you stole it. buy a car from an honest person.
Otto
Unlike some of the poor answers here, I simply suggest going to the bank or calling them and ask how to safely complete the transaction. This type of transaction is very common.