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Old 09-20-2010, 08:29 PM
 
295 posts, read 1,025,478 times
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1. how would i know if the pink slip is real, or how can i protect myself that this seller is really the owner of the car?

2. do banks, credit union finance this? i assume private seller would want cashier's check or cash.

i live in texas.

thanks,
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Old 09-20-2010, 08:33 PM
 
191 posts, read 624,654 times
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1. Not sure. Might want to contact your DMV.
2. You can get a loan and the bank will give you a check. Buyer gets paid immediately in full, you pay the bank back.
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Old 09-20-2010, 09:49 PM
 
Location: Columbia, California
6,662 posts, read 25,357,307 times
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A simple call to the local police will verify. Do not call 911!
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Old 09-20-2010, 10:20 PM
 
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Theowner has to provide a title. The you can further check by goign to your local place of registireing it i your name with the present seller. tha is smart for both of you i that he will also know that the owenrship has been removed from DMV records as the ownere once you buy it.
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Old 09-20-2010, 11:20 PM
 
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Down here in Louisiana you can do it at the DMV and waiste half a day in line or go to a private tag place they have notarys and all. They give you a new tag and turn the old one in to the dmv, cost about 50$, but worth it, the new owner pays the tax and gets a new plate.
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Old 09-21-2010, 05:52 PM
 
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1 Counterfeit titles are not unheard of, but most states are incorporating security features onto their title documents...such as watermarks, security threads, intaglio printing etc....to make them harder to counterfeit.

I would imagine that a counterfeiter that makes good fakes would use them for high-end cars, not run-of-the-mill iron

2 Of course banks and credit unions finance cars. They give you a check made out to the seller usually.
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Old 09-22-2010, 07:38 PM
 
Location: TX and NM on the border of the Great Southwest.
11,786 posts, read 15,808,595 times
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Quote:
Originally Posted by Proud2bPinoy View Post
1. how would i know if the pink slip is real, or how can i protect myself that this seller is really the owner of the car?

2. do banks, credit union finance this? i assume private seller would want cashier's check or cash.

i live in texas.

thanks,
I've bought a lot of privately-owned vehicles in the past thirty years but I would say you should familiarize yourself with the various watermarks in a valid blue Texas title and look for these. Of greater concern to me is that the owner has not transferred the title since they bought the vehicle and the signature on the owner portion of the title does not match the seller. I've run into this quite often in Texas when paying cash. Also, although it is unlikely that the seller would possess the real title of a car with a lien on it, always check to make sure there are no open liens still showing on the title. Lastly, also get from the seller a properly signed "Application for Texas Certificate of Title" (Form-130-U). This form and instructions can be downloaded from the internet.

Regarding banks and CUs financing a privately owned vehicle, indeed they do. Although I normally pay cash for my vehicles nowadays, what I have done in the past was to get a loan for a certain amount, and for a particular type of vehicle, pre-approved by my CU or bank so that when I found the vehicle I wanted, the owner was assured that I had the cash available. Without cash in hand, or at least a letter saying you can quickly have cash in hand, many car owners will not deal on a price. I certainly would not. What happened in my cases was that, after the bank approved my loan, they would give me a letter saying the loan was pre-approved as well as a "commitment-to-sell" paper for the owner to sign and for me to return to the bank. I took the owner's commitment-to-sell back to the bank and the bank issued me a cashier's check which I took back to the private party where I picked up the car and the title. The title I immediately took back to the bank. Times have changed much so I would think that you and the vehicle owner now have to both return to the bank for the payoff and title changing of hands. I just don't know how they handle that any more. I do recall selling a newer Tacoma a few years ago and I had to go to the buyer's CU with him to get my money. I would think that any seller of a high-value vehicle would be willing to do that for you because there are few buyers who walk around with $20 or $30,000 in their wallet so they can roll it out on a seller's driveway.

At any rate, best of luck in your endeavor. I hope something here is helpful.
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Old 09-22-2010, 07:46 PM
 
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ITxas that is avilable thru DPS. Mian thing is as a seller to go to have new owner actaully tranfer the tiles and registrtion at the court house.Otherwsie you might surprising get some camera tickets and its a pain to strighten out becsie other things.
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Old 09-24-2010, 01:36 PM
 
Location: Pikesville, MD
5,229 posts, read 11,495,564 times
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Quote:
Originally Posted by texdav View Post
The you can further check by goign to your local place of registireing it i your name with the present seller. tha is smart for both of you i that he will also know that the owenrship has been removed from DMV records as the ownere once you buy it.
All well and dandy of you're buying a car on a weekday in the same town that you live in, and bnot you AND the seller have enough time in your days to wait it out. Harder to do if you're buying a car on a weekend and you're on the other side of the state or in a different state.

As was said, rarely are there going to be counterfeit titles on middle of the road cars.
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