I just like the way it looks. Had an 06, wished I kept it until I actually buy a CR. Missed driving it most.

 

I see, why so worried about title in hand? Seems your limiting yourself over something very common.

 

The reason is to avoid future headaches. I am not saying the seler won't send me the title once they paid off the car with the money I give them. It is just reassurance to me, just like a buyer won't take a personal check. A bill of sale along with public notary is nice but a title in your hand is always better.

what do you think of this idea?
I will finance the car, this way the seller lien holder is obligate to send the title to my bank. Then I will pay my bank off once I find that they have the car title.

 

Yea that would work since the title is sent directly to your bank an eliminates any worries as a buyer. Neve heard of any issues with titles only BS or Fake checks to the seller.

 

it doesn't work that way even if you finance the car. the seller need to pay off his loan, and it will be the seller to determine to whom his bank should send the title to. if they send it to you, you still have to meet up with the seller to have him signed on the title saying that he sold the car to you. then you will have to bring the title to the dmv to register your car under your name, and have dmv mail the title directly to the bank you get financing from. under no circumstances will the seller's bank required to mail the title directly to your bank.

 

No if you take a loan on the car the title is sent directly to the new lien holder. When I got mine this is exactly how it was done and I believe the bank sends a power of attorney or something that you sign. You wont sign or touch title until its paid off. No bank in their right mind would send you the title to a car if you owe them money. So once the check is sent to the current lien holder they will follow the new lien holders instructions and the title will be sent to them direct. Used to work for a large bank so there is nothing to worry about this way.

 

It actually depends on the state you live in. I know Wisconsin will give you the title to the car before you pay off the lien.... and I know for certain that Indiana will not give you the title until it's paid off and you request the original title. Also, sonnghiem hasn't said which state he plans to purchase and register the vehicle, so it could depend on that.

Another option you have is to find out from the seller what the balance on the lien is. Make 2 checks payable for the purchase of the car: one check to the lien holder to pay off the balance and the second check out to the seller for the remaining amount. This will ensure that the seller must use the money to pay of their lien. Does this make sense? I'm trying to leave out the legal jargon

 

Correct, Indiana will not release title until all liens have been removed, which is true in most states. Dealing with a sale where liens are involved are always more time consuming and take careful planing, and trust before they can be completed.

 

Paging Timbagoo

 

Wow I have never heard of this, are these local banks? I know the larger banks don't follow state regulations since they don't have to.

Either way I still don't see this as something to worry about. When I purchased my S it was from down South and the title went directly to the Credit Union as I would have expected it to. Legally the seller would lose and not get any where so pointless for them to keep it. Now I hear if you sell the car and its a bogus check the seller is SOL because they won't do anything and insurance won't either since its not physically stolen with you handing over the keys. Scary stuff!