Question on Buying a Used Car
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Question on Buying a Used Car
Sorry this might be a bit off the G35 Coupe's threads. My friend is planning on buying a car from a private party but the seller still has $13,000 loans with bank. Seller now is asking my friend to pay her first so she could get the lien release letter from bank. Is this the only way of trading car assuming the seller could not pay off the car prior to the trade?
Thanks for any comments in advace
Thanks for any comments in advace
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In Cali: It all depends on whether or not your friend is financing his purchase. Even when you are buying from a private party you do not need to pay off the lien first. The title and paperwork can all be done at once. You just need to fill out the Transfer of Vehicle form, Authorization for Payoff (for the other lienholder to accept the payoff check), and get the smog.
If paying by cash, go to the DMV first to complete all the paperwork and put the vehicle in your friends name.
If paying by cash, go to the DMV first to complete all the paperwork and put the vehicle in your friends name.
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