2007-05-31 08:40:06 · 5 answers · asked by BrianG 1 in Cars & Transportation ➔ Buying & Selling
ask bank what they require, usually make an offer, give them a deposit with paper work on final price, then arrange for the seller to meet you at bank with all paperwork required by your bank (they should have a pre printed checklist for you to give a copy to seller) ususally takes 1hour of time (2+ in my case)
oh, banks won't loan money on salvage titled cars, asked that up front and look at title, usually says SALVAGE on it if it was stolen or a storm recovery vehicle
good luck
oh yes by all means know everything about the current lien holder if any and if you finance, whats the maximum your bank will loan you for the car..prior to making any type of offer !!
2007-05-31 08:45:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-09-27 19:19:44 · answer #2 · answered by Margarita 3 · 0⤊ 0⤋
You should make sure that the sellers loan is satisfied before you accept the vehicle. The best thing to do is to have the seller pay off his loan before the sale and get a clear title. If this is possible because of limited resources, there are other options. If you are paying for the car with cash, contact the bank that holds the title and pay them directly. Do not give the seller the money directly. If you are financing it, you may be able to get your bank to work directly with the sellers.
2007-05-31 08:46:11 · answer #3 · answered by Jay P 7 · 0⤊ 0⤋
Copy of title. If clear (no leinholders) you are ok. If lein, get ORIGINAL lein release.
Bill of sale (seller sells car to buyer for x, include VIN).
May be more - ask your bank.
Your bank will make a check out to the seller and seller will sign the title over to you.
2007-05-31 08:55:57 · answer #4 · answered by magnet4trouble 4 · 0⤊ 0⤋
The bank where you received the loan should give you the money and then you can pay the person for the car.
2007-05-31 08:43:16 · answer #5 · answered by Kevin 1 · 0⤊ 0⤋