Buying car with a lien on it

[bringitback]

I almost bought a car from someone the other day, was just getting ready to do the deal but realized i had not looked at the title yet. So i ask, and the lady says she doesn't have it, its at the dealership because that's who financed it. I told her she cant sell a car that she doesn't own, and she acted as if this was news to her! Anyway, the car is sick and priced under KBB and i really want it.

The only safe way to do this that I can think of, is have a cashiers check made out to the lien holder for the amount remaining on the loan, go there with the person and pay their loan off, and have the lien holder sign the title over to me on the spot. Then i would pay the difference in cash to the person selling the car. Is there any other way to safely buy a car with a lien? I just cant imagine taking someones word when they say they plan to pay off the car with the money they get from you, they could very well never pay off the loan and the car could get repoed.

[breadisfunny]

i would play it safe....if you take their word for it.....your likely to get burned. and based on your short description of the other person's behavior.....yeah i would definitely play it safe. try and find another car you like if thats possible would be my advice. this has trouble written all over it unless you pay off the lein and do what you described.

[obdigore]

You would have to bring in the people with the lien (car dealership) as they already have a claim on the car.

I mean you don't have to if you don't want to, but as you noted the person you 'bought' the car from could not pay the lien off and get your car repossessed.

[Atrea]

She was probably trying to scam you - you dodged a bullet here.

[Xenofreak]

I'd say definitely play it safe and get it taken care of the safe way if the person selling it is willing. It's entirely possibly they intend to take that money and keep it and let whoever buys it deal with the problem of the lien.

Do not, I repeat, do not just trust the person. When it comes to something that can be that much of a pain in the ass, never do something that can get you screwed over that badly if you misplaced your trust, especially if there's an alternative (like the one you mentioned) that covers your ass and makes you not even have to worry about the risk.

[klocker2003]

Simple, take the lady to the dealership, sit down with whoever can handle the situation, write the dealership a check or cashiers check, also give the dealership duder the extra cash thats supposed to goto the woman, and they hand you the title and the cash to the woman.

And no, never EVER buy a car with a lien without paying it off first, if you give her the money and she runs off, well lets just say that the ammount of hassle you just made for yourself to set things right isn't going to be worth it.

[Alvito]

You would have to bring in the people with the lien (car dealership) as they already have a claim on the car.

I mean you don't have to if you don't want to, but as you noted the person you 'bought' the car from could not pay the lien off and get your car repossessed.

They cannot sell it with the debt on it eiher. Nobody is going to notorize the sale of an item from one person who doesnt really own it to another. This ends up being a lot more like when you buy a house that isn't paid off. I buy a house for 300k from somebody that still owes they don't get the money the bank gets paid off and the others get the crumbs that are left.

[Prokne]

Simple, take the lady to the dealership, sit down with whoever can handle the situation, write the dealership a check or cashiers check, also give the dealership duder the extra cash thats supposed to goto the woman, and they hand you the title and the cash to the woman.

And no, never EVER buy a car with a lien without paying it off first, if you give her the money and she runs off, well lets just say that the ammount of hassle you just made for yourself to set things right isn't going to be worth it.

Also never buy a car without getting the title signed over to you. In this situation the easiest way to buy the car is to go to the dealership and have them tell you how it works. I assume its like klocker said and you pay off the remaining part of the loan to the dealership and the extra to the woman. The dealership then transfers the title to you and you own the car.

[bringitback]

I sent the individual an email with my proposition of meeting me at his bank or where ever the lean was held, his wife had previously stated she bought it from a dealer here in town. His reply is below. Pretty funny.

"I spoke at length with Ford Motor Credit before you last spoke to (wife). They physically have the title on file at their offices in St. Louis, MO. Once they receive the the pay-off amount from us they will immediately send the title to our address. As a side note, I verified that they had an accurate address on file for me. In short, Seekins is unable to assist in this process.

I certainly understand your concerns. Several years ago I was deliberately mislead by a seemingly nice guy who sold me his 1st Gen SHO.

That said, this deal hinges on a certain amount of trust on your part. I suggest you talk to a loan officer at your bank, and verify that the transaction I've described is a normal variation. I can offer several excellent character references. For what it's worth, I'm the father of five, a long time foster parent, involved in Special Olympics,and retired from the military with 23 years of service. I'm currently employed by the Army as a contracted logistician.

I would like this car to go to someone who appreciates it as much as we do, but there is no way to close this transaction without a short delay while we get the title from FMC with the purchase funds. If you are unable to make this leap we are at an irreconcilable impasse.
I've attached the proposed bill of sale for your careful appraisal.

Let me know if we can proceed. "

[Atrea]

It's definitely a scam, this is the kind of shit that pops up on Craigslist all the time.