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I'm about to purchase a car from a private seller. I was able to verify the identities of the people involved and know where they work, etc., so I'm not worried about a scam. The car checked out mechanically and I made an offer. But I found out in the process that there's a lien on the car. The seller is asking me to pay him the full amount up front, which he will then use to pay off the lien.
Do I have any security here? The seller is telling me that I'm protected under NY law whether I pay the lien-holder or pay him directly, but I can't find any mention of this online. Will a Bill of Sale ensure I don't get ripped off? I need to know today.
It's a scam. Back in 2006, a friend of mine fell for that and the person never used the money to clear the lien. The car was ended up repossessed.
No matter how good a contract you have written there. If something goes wrong, it's your burden to sue and collect. Not worth the trouble. Also, this kind of scam plagued craigslist for years.
Yeah, I would never trust a stranger to clear the lien. I would consider having them give me the information, and making the payoff myself, but only if I reeeeeeally wanted that car.
I bought my motorcycle that had a lien on it and just gave the guy that I bought it from my check for the full amount. He then paid the bank that had the lien on it and I had the release of lien sent to me so I could get it re-titled without that lien.
It's SAFEST to make two checks, one for the bank that holds the lien and one to the person.
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