Beware used cars with liens..

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Depends on the definition of "late model". For some guys here that would be anything back to a 2010.;)
We probably have to start up a new thread, but I would think that the term should apply to cars that are at most 3-5 years old and maybe under 50k as a late model used car. Pretty much what a new car dealer would stock as a used car, not just cars that are private sellers or used car lots only.
 

Quantico

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What? No. A title in hand protects both parties. Seller is going to have to do the legwork on this, he's competing with 100s of other sellers who are competent.

Seller should call up his bank, request a paper title at location X, then meet buyer there and everyone leaves that day with what they showed up for.

A notarized contract is no good if someone disappears.
You cant demand a title from the state in a hurry. They take their time. The seller should have cleared the title and had it ready when he wanted to sell the vehicle.
 

Quantico

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Years ago I sold a car with a lien. We both had copies of both our ID's, signed sales agreement, the payoff, and copies of the cashiers check. He had the keys and the car and I had verified issuance of the cashiers check. Title came in about a week and I FedEx it to him the next day.
I would not give the money to the seller without a clean title in my hand. If i pay him and leave without a title I have no leverage to get the title and no legal right to the car I paid for.
 
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My point is more about "lost" titles, as in "I can't find the title", not so much about vehicles with leins. "I can't find the paperwork" was what happened with the sailboat my dad was given. A seller who can't be bothered to get a duplicate of a lost/mislaid title should be a red flag. Is that vehicle really his, free and clear?

It's disturbing how many people are so disorganized that they can't find important stuff such as vehicle titles. I know where all my important papers are. Too many don't. If you're one of them, think about what someone handling your affairs after you die would have to go through.
 

Quantico

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My point is more about "lost" titles, as in "I can't find the title", not so much about vehicles with leins. "I can't find the paperwork" was what happened with the sailboat my dad was given. A seller who can't be bothered to get a duplicate of a lost/mislaid title should be a red flag. Is that vehicle really his, free and clear?

It's disturbing how many people are so disorganized that they can't find important stuff such as vehicle titles. I know where all my important papers are. Too many don't. If you're one of them, think about what someone handling your affairs after you die would have to go through.
I agree.. first question i asked the seller was do you have a clear title.. he said yes.. but has a lien... but he was not correct.. his title was electronic and only available to the bank.. so he needed to pay off the loan and wait for a clear title.. and correct his address.. as he had moved.. so the truck was far from ready to buy.
 

Quantico

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Bet i have bought 15 or more used cars.. but never one with a lien on it.
Guessing the state changed the law because they got tired of cars being sold without a satisfied lien.. making a mess for the state dot and police.
 

Quantico

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Next you'll tell us beware of vehicles with prior accidents. :eek:
So you knew that state law changed in 2012 making it impossible for a seller to possess a title with a lien on it ??
First time i saw this in over 40 years of buying used cars..
I was trying to help people see a potential problem.. guess your here to catch a laugh.
 
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More than 85% of new cars are financed.
So we're only talking about new cars here ? Bet no one presumed that and that this thread was applying to 2nd, 3rd, and 4th owner cars just as much as any others.
 
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I would not give the money to the seller without a clean title in my hand. If i pay him and leave without a title I have no leverage to get the title and no legal right to the car I paid for.
This isn't actually correct. Yes it could be a problem with a cash sale and a verbal agreement but it's not a problem with a well documented transaction. One thing I did leave out was a that the seller also had a copy of my current insurance card (VIN match to the vehicle).

So for my buyer he had the following:

#1 Fully executed State of GA vehicle sales agreement.
#2 Proof of sellers ownership (ID, Insurance card, copy of payoff)
#3 Proof of payment (Cashiers check made out to lienholder NOT the seller)
#4 The vehicle in their possession.

If I didn't send him the title it would've caused him a hassle but he would have legal right to the car. In some ways it's like buying a house. There's a lag time with regards to when deeds are recorded and existing lenders file the satisfaction of mortgage.
 
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So you knew that state law changed in 2012 making it impossible for a seller to possess a title with a lien on it ??
First time i saw this in over 40 years of buying used cars..
I was trying to help people see a potential problem.. guess your here to catch a laugh.
I don't live in Wisc. so I do not care about Wisc title laws. :cool:
 
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My sister in law ended driving around with a Volvo dealership plates on her slightly used 2018 XC90. she would not return until they produced title or another vehicle for her to drive. Her 20 day expired and the dealer could not get title to what they sold. It took 80 days for the Volvo dealer to acquire title so she could register it.
 
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