Buying used car Question

[Herman]

I am going to go pick up a vehicle off CL, guy says he still owes some $$ on it. He made it sound like I pay him get bill of sale then he pays off car and sends me tittle. What is the norm for something like this?
Thanks

[T. B. Turner]

If it were me ( and I realize everyone is not me) I would handle the transaction at the lien holders place of business. That way he can pay off the loan and get the title cleared all at once, the lien holder will most likely have a notary on the premises. If you don't you could easily lose your money and have a car that you cannot transfer or use. If the seller has a problem with that I would pass on the deal. Sometimes people don't intend to rip you off but they can cause problems from being irresponsible.

[Herman]

Yeah that's what I was thinking. The problem is this guys bank is over on the front range.

just wondering if there is any other way I can protect myself.

[Hound]

Sounds like a classic scam. Don't do it. If you must do it TB had some good points. I would add no money till you can physically see the title and also, get the VIN number and call it into the State Police office. Verify that the car is not stolen or otherwise 'an issue'. If they are busy, call the guy up and get the VIN, then go to the DMV. Check the VIN.

[hurley842002]

Like others have said, no title, no cash.

[colorider]

Only way to be sure is to do the deal at the bank,that holds the title. Move along.

[ruthabagah]

I have sold 4 cars on which I did not own the title and was still making payment on, and bought 2 of them in the same conditions. This is a pretty simple and classic deal:
1 - Get the VIN and the information from his insurance has to who the title owner is.
2 - Get a copy of his account statement showing what he owes and proof of payments (not his full bank statement, just for this loan)
3 - Get a bill of sale and pay with a cashier check.

EDIT:

4 - Have him send you the bank payoff receipt and the title when he receive it from his bank (could take up to a month with Wells Fargo....)

Run to the DMV and make it legal. That's all you need.\

Or just take a trip to his bank and make it legal there. Totally worth it. Personally I only use Bellco for my car loan because they are local and will transfer a title on the spot (they call it "Automotive Closing").

[Graves]

If it were me ( and I realize everyone is not me) I would handle the transaction at the lien holders place of business. That way he can pay off the loan and get the title cleared all at once, the lien holder will most likely have a notary on the premises. If you don't you could easily lose your money and have a car that you cannot transfer or use. If the seller has a problem with that I would pass on the deal. Sometimes people don't intend to rip you off but they can cause problems from being irresponsible.

I've done it this way a few times.

[MED]

If it were me ( and I realize everyone is not me) I would handle the transaction at the lien holders place of business. That way he can pay off the loan and get the title cleared all at once, the lien holder will most likely have a notary on the premises. If you don't you could easily lose your money and have a car that you cannot transfer or use. If the seller has a problem with that I would pass on the deal. Sometimes people don't intend to rip you off but they can cause problems from being irresponsible.

^^^this^^^

Unless it is a cash/title in hand deal, I always do it T. B. Turner's way. If you do a title in hand deal, make sure the name the seller(s) sign is exactly the same as the printed name(s) on the title. If it isn't, you have a mess trying to get it fixed.

[Gman]

Does the vehicle look like this?