obchuck

Good afternoon all,

I'm purchasing a car from a private party. He does not have title as he has financed vehicle. He claims he can draft a "bill of sale" stating purchase of said vehicle - VIN # Year Model, etc - and we can sign it. I will receive title in 2 weeks time.

Is this legit? Should it be notorized? Should I not do it? Problem is, I sold my other car and need to get something ASAP.

A VERY sincere Thank YOU!!

obchuck

DMV Bill of Sale (printable online) would suffice? Please, any laywers out there???

wgharper

Is his bank a local bank? I've done a few transactions like this, and ideally he would have the lien holder/bank send the paper title to a local branch, and you just do the deal there (pay him, he pays the lien off, you get the title).

If this is not an option, I'd start digging on your home state's DMV website to find out what your options are - I think requirements for this sort of thing vary from state to state.

Good luck!

Bruce SEA 993

Just did that except I had the title sent to sent from his credit union to mine and all the title transfer was handled by the third parties. I knew it was legit but in your case how are you going to ensure you get the title and when do you send in the money?

What I didn't get was anything showing that I had legal title to the vehicle, just a bill of sale. We figured that it would only be a problem if we got stopped. Here we were in this "pull me over Red" BMW with no license plates (in Utah, the seller keeps the plates). Sure enough the second day out on a 8 day trip:



Good thing it was a "catch and release" situation. I have to say the Utah cops are much more reasonable than the ones in Washington.

2ndof2

As a banker I'd suggest contacting his lender for a payoff demand and inquire as to the status of title. Also confirm with the DMV. Pay the lender directly and not the seller and you should be safe. If there's a difference between what is owed and what the purchase price is I'd hold the balance in escrow somehow pending transfer of title. Its much cleaner paying cash to a seller who holds title. Rental car in the meantime.

Mark in Baltimore

Whenever I've sold my cars, I always paid off the car so I can hold the title. As 2ndof2 says, it's much cleaner. I'm always very wary of not a seller not having the title and, as suggested, prefer to pay the seller's noteholder directly. All sale documents should note what action will occur if you do not receive the title within a certain time frame.

TRINITONY

Go to the bank with him, they will give him/you the paper work. At least that is what happen when I sold my 951 in 94. Can't remember if they gave the new owner the title, but the gave him something as the official owner to be able to register the car.

obchuck

Problem is SST is servicing loan. A subsidary of JPMorgan. They refused to give me anything over the phone, even w/him on the line.

jimq

If he doesnt pay off the loan you wont get a title and the bank still owns the car.

TRINITONY

exactly..when you give him the cash you better be there to see him hand it over to the bank..

melman911

Best thing to do is find a dealer to do a "in-and-out" for you. When my brother and I have either bought or sold cars we ususally find a dealer to handle the paper work for us. They will charge you but it's worth it. Takes the hassle out of it. They know what they are doing also. Honestly the best way to go.

jimbo3

The lienholder, the seller and you should sit down and sort it out. If you simply give the owner the whole amount, you're trusting that he is going take the cash and to pay the lienholder instead of taking it to his bookie or making a mortgage payment.

melman911

Call a dealership where he lives. They will handle it for you. Seriously. I work for a bank. It's a mess when you try it yourself. The will get the title switched for you....etc.

dcdude

I just sold my Mom's ML in CA. Her lienholder sent a written release of their interest in the vehicle along with a pink CA DMV form notarized to that effect, but no paper title. The pink form had two check boxes:
[ ] Request for transfer of ownership
[ ] Request for duplicate title

It had all the normal seller/buyer info on it like the back of the CA title certificate.

There was another "reason" check box we ticked:
[ ] Title not received

AFAIK, the transfer has gone through fine on the buyer's end.

obchuck

Dealers are claiming they would have to "buy" car, put it through checks, etc since they are "licensed dealer". No dice. ???