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Started By
Message
re: Buying A Vehicle From A Owner That Is Financing.
Posted on 8/7/18 at 9:52 pm to hugo_boss
Posted on 8/7/18 at 9:52 pm to hugo_boss
I bought my car from a private seller who had a lien on the title since he still owed money on it. It wasn't a breeze but it was easier than it sounds.
The bank essentially owns the car. You are buying the car from the bank with the money that you give the seller.
It's pretty common. Not shady at all.
The bank essentially owns the car. You are buying the car from the bank with the money that you give the seller.
It's pretty common. Not shady at all.
0
Posted on 8/7/18 at 10:11 pm to Proximo
quote:
false
ok, but the seller, or the new purchaser can't have the title, if there is an outstanding loan
Posted on 8/8/18 at 6:54 am to HubbaBubba
I bailed. The guy is saying the bank is in a different state. Too many hoops to jump through.
Posted on 8/8/18 at 6:58 am to hugo_boss
Is it a legit bank? There is no reason for you to actually set foot in his bank. Everything you need to do can be done electronically.
Posted on 8/8/18 at 7:27 am to LNCHBOX
Yes a credit union. This just seems like a lot and not worth the savings vs. a comparable vehicle.
Posted on 8/8/18 at 7:28 am to hugo_boss
How good a deal is it?
Posted on 8/8/18 at 8:16 am to hugo_boss
Use a sight draft. Your bank issues a draft payable upon receipt of the clear title.
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