My friend found a car that he wants to buy from a privet seller. The only problem is the guy still owes money on this car so the bank has the title. Since I never bought a car without title I’m not sure what steps you need to take to insure you are not getting screwed. What you recommend?
'03 YZF600R
Dont buy a used car without the title in hand. That's what I'd recommend.
You can basically go to the bank with the guy, hand over your money and the bank takes their share the guy gets what's left, and the bank signs over the title to you. At least that's what I'd do.
When life throws you curves, aim for the apex
Current stable: 09 Thruxton \ 09 FZ6S2 Sold List: 97 Ninja500R, 03 SV650K3, 01 Ducati 750Sport, 73 CB350/4, 03 F650GSA, 08 Gixxer600, 03 Gixxer600, 91 VFR750F, 09 KLX250, 06 Thruxton 900, 02 VFR800, 08 Spyder RS, 12 Street TripleR, 09 KLX250S, 16 KTMRC390, 10 F650GS
my Facebook, SpeedShotsOriginally Posted by salsashark
/thread
Do not put off living the life you dream of. Next year may never come. If we are always waiting for something to change...
Retirement, the kids to leave home, the weather or the economy, that's not living. That's waiting!
Waiting will only leaves us with unrealized dreams and empty wishes.
+1
That's the only way I'd do it. Technically, you aren't buying the car from the guy, you're buying it from the bank, better get the bank in on the deal or you will get screwed.
'12 BMW S 1000 RR
'11 Suzuki V-Strom DL-650 *SOLD*
'07 Aprilia RSV R Factory *SOLD*
Great advice!
Will the bank have the title in the branch office?
'03 YZF600R
If they don't they can give you the paperwork to go to the DMV and have them issue you a new title.
When life throws you curves, aim for the apex
Current stable: 09 Thruxton \ 09 FZ6S2 Sold List: 97 Ninja500R, 03 SV650K3, 01 Ducati 750Sport, 73 CB350/4, 03 F650GSA, 08 Gixxer600, 03 Gixxer600, 91 VFR750F, 09 KLX250, 06 Thruxton 900, 02 VFR800, 08 Spyder RS, 12 Street TripleR, 09 KLX250S, 16 KTMRC390, 10 F650GS
my Facebook, SpeedShots
Good to know. Thanks guys!
'03 YZF600R
No, typically they won't, but they can transfer ownership at their level to you and issue the title to you. Usually they hold it at a corporate office. I just paid off my wife's car and it took almost two months to get the title. Might be different at a smaller bank though.
'12 BMW S 1000 RR
'11 Suzuki V-Strom DL-650 *SOLD*
'07 Aprilia RSV R Factory *SOLD*
Thank You!!!
'03 YZF600R
did you guys not see this?
/thread!
Did somebody already mention going to the bank with the guy?
Did somebody already mention going to the bank with the guy?
The only sucky part is paying taxes owed on the purchase, you're dealing with a bank and might not be able to ...uh... "negotiate" on the written price of the car.
When life throws you curves, aim for the apex
Current stable: 09 Thruxton \ 09 FZ6S2 Sold List: 97 Ninja500R, 03 SV650K3, 01 Ducati 750Sport, 73 CB350/4, 03 F650GSA, 08 Gixxer600, 03 Gixxer600, 91 VFR750F, 09 KLX250, 06 Thruxton 900, 02 VFR800, 08 Spyder RS, 12 Street TripleR, 09 KLX250S, 16 KTMRC390, 10 F650GS
my Facebook, SpeedShots
The seller owes more then the agreed sale price
'03 YZF600R
LOL.. Doouhhh! In other words, seller is hoping for a dupe to help him get out from under an upside down loan. WTH?! Run away!!!
When life throws you curves, aim for the apex
Current stable: 09 Thruxton \ 09 FZ6S2 Sold List: 97 Ninja500R, 03 SV650K3, 01 Ducati 750Sport, 73 CB350/4, 03 F650GSA, 08 Gixxer600, 03 Gixxer600, 91 VFR750F, 09 KLX250, 06 Thruxton 900, 02 VFR800, 08 Spyder RS, 12 Street TripleR, 09 KLX250S, 16 KTMRC390, 10 F650GS
my Facebook, SpeedShots
..
Last edited by modette99; Mon Nov 7th, 2011 at 04:56 PM.
The seller in this case is a moron
'03 YZF600R
..
Last edited by modette99; Mon Nov 7th, 2011 at 04:56 PM.
$1.2k but he didn't have the money. Once the seller figure how much he owes he increased the price by $2k, trying to make a profit
'03 YZF600R
Then find another car, sounds like this one is too good to be true. There's always another car.
Hey that's what we did with my WRR. lol.
Remember Yesterday. Plan For Tomorrow. Live For Today.
Current Stable:
'o5 SuzukiGSX-1oooR (Custom Street Fighter).
'o6 Pitster Pro 50cc Pit Bike (125cc Big Bore Kit).
All I can say is, Wow.The seller owes more then the agreed sale price
So did your friend go through with the purchase or have they decided not to deal with this idiot seller?
'09 Duc Monster 696
'00 Suz SV650 (Dad's, garaged with mine)
I like mountains because they make me feel small.
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