2002 porsche 996 cab buying help
02-22-2006, 08:57 PM
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2002 porsche 996 cab buying help
This guy I called from craigslist has A 2002 cab I like the problem is he does no have the pink or title.He owes 50,000.00 to e-loan.The price of tne car is 53,000.00.Whats the best way to make A deal like this.seems like problems before you start.couple of grand more can go to A dealer?Need some input I like the car from craigslist.
02-22-2006, 09:00 PM
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Walk away.
Originally Posted by ojpimpson
This guy I called from craigslist has A 2002 cab I like the car problem is he does not have the pink or title.He owes 50,000.00 to e-loan.The price of tne car is 53,000.00.Whats the best way to make A deal like this.seems like problems before you start.couple of grand more I can go to A dealer?Need some input I like the car from craigslist.
02-22-2006, 09:12 PM
#5
Three Wheelin'
Where is the car? If there is a lien on the car, then you have to pay the bank directly to get the title, and then pay him the balance. If you will have to get the car registered in California, you will also have to pay the DMV sales tax when you take the title to have it transfered to your name.
Get the lenders name, the loan number and verify the payoff before your go any further. eLoan is a broker not an actual lender.
Get the lenders name, the loan number and verify the payoff before your go any further. eLoan is a broker not an actual lender.
02-22-2006, 09:31 PM
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Originally Posted by lowside67
dont you just pay the loan off and they give the title directly to you?
02-22-2006, 09:52 PM
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All you need is to call E-Loan and get a 30 day pay off.
Have him sign "Authorization for payment", and a bill of sale / power of atty.
you should be ok from there.
If you buy the car for $50k, and he owes $53k, then you both get cashiers checks made and Fedx it all to E-Loan. When you call E-Loan, ask them if they do "Paperless titles". If so, then you can discuss with them how you want the title.
Of course before doing any of this, dont forget to have a PPI done.
Have him sign "Authorization for payment", and a bill of sale / power of atty.
you should be ok from there.
If you buy the car for $50k, and he owes $53k, then you both get cashiers checks made and Fedx it all to E-Loan. When you call E-Loan, ask them if they do "Paperless titles". If so, then you can discuss with them how you want the title.
Of course before doing any of this, dont forget to have a PPI done.
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02-23-2006, 10:12 AM
#10
Three Wheelin'
It surely looks like a beauty, and I do think that the sale is as easy as calling the lien/title holder and arranging to pay off the balance of the loan (of course, you'll need the current owner's written authorization to have the title transfered to you). I don't think this sounds too suspect at all. Just make sure that you have crossed all your t's and dotted all your i's before you transfer your money over. But again, the car does look very nice.
BTW, not a big cat fan at all!
BTW, not a big cat fan at all!
