So I was just getting ready to purchase another Audi for the wife and the buyer currently has a Lien on the vehicle. It's a private seller and I was going to be flying to get the car.

So I would hand him cash, he would give me the car, and then I guess he would mail the title? I know that is how Dealerships do it, would that be how I would go about this?

I've never purchased a car from an individual with a Lien before, so any help would be greatly appreciated.

 

a lien means there is still a balance of the original purchase loan.

if he paid it off and did not file payoff notice to DMV they would not know loan paid off.

i would definitely want more info b4 i fly/buy car.

like who was loan with?
how much left on loan?

U must get a clear title no lien holder or else when u reg it will show a lien holder.

 

Well what I know is that there is a good bit left on the loan. It's not the original loan from the dealer, but instead through his bank.

He was planning on taking my payment, paying off the loan, and then sending the title to me. Is this normal practice for a private individual, as I know that a Dealership will mail the title.

So how do I go about getting a clear title in this manner?

 

owner should have title, no title no $$$$$$$

he has to fill out info on back & sign and you as well.

first, the lien thing should be taken care of.

u want a clean title or the orig with the payoff letter from lein holder so when u go to register the car your new title is clean, no lien holder

 

u can't do anything w/out a title


if he is paying off lien with your pmt, then u will need the paperwork from his bank stating the lien has been satisfied
so u can register in your home state and get a clean title.

u can prob ask the dmv in your state what paperwork is necessary

 

u take his title showing lien then the paperwork fron his bank showing lien paid off.

your state dmv will issue you new title with no lien holder.

but each state is different. definitely check with your dmv

they may want seller/lienholder to fill out a form.

 

I just sold one of my cars that had a lien on it, what happens is you take the car with his registration and insurace and when he pays of the car and gets the title, he will mail it to you and you mail him back his tags, therefore you both have something eachother needs...he needs his tags and trust in you that you won't get any tickets or crash the car and screw his insurance and you need the title. That's how me and my customer did it, i live in Jersey and they came to pick up my car from NC. The only downside is you CANNOT register the car until you have the title, all you can do is get insurance on it.

 

In order for the buyer to have possesion of the title, it needs to be paid off! When the loan is paid, the bank sends you the title. Sounds like a pain in the *** transaction, and to have to fly to get it!??! Id tell the buyers that there are good deals that are closer, with less of a hassle for the transaction. Thats all just rediculous! PITA

 

Plus, it will take the bank a while to process the pay off, and send the payoff confirmation with title! I hope the price is well bellow blue book for such a hassle.

 

akaEsCo01-

Maybe you could help me out a little more with NJ's rules and everything, as I was planning on traveling to NJ to pick up the car. I want to say he is from Fort Lee or around that area. I was going to try and register it in MD and get everything taken care of through MD, however I'm currently in Oklahoma with the Air Force, so it's making it kinda tricky and needless to say there is NO market for Audis around here. You wouldn't be near that area of NJ would you?


onepoint8tee-

Tell me about it. I would love to do something closer, but unfortunately, I'm looking for a very specific type, a yellow A4 1.8TQMS, and this one happens to have a pretty nice warranty with it still, and it's at a very good price, so it's really working out for me.


But basically the title would indeed have to be mailed to the seller (or possibly buyer-me directly?)

If he were to take my check the same day to his bank, do you think they would be able to give me some type of letter like was mentioned to the effect that the car is mine ... bla bla.??