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Old 12-30-2011, 02:01 PM
 
29 posts, read 63,777 times
Reputation: 11

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I am trying to buy a used car from a person who has the car registered/titled in VA. He has a lien on the car. He's telling me that he does not have Title in his hands and in VA the DMV keeps the title if there is a lien. I am going to have the car MD inspected (on my own expense) just to make sure the car passes that before handing him the check but He's telling me that he's not going to pay off the loan if I am not interested in buying the car and want to use my check/cashiers check to pay off the lien and he's saying that after 5 days the bank will send me the title directly.

Something does not look right here to me. How should I handle this transaction? Is it ok if I collect a letter from his Finance company with the car information and his information to have a proof that car is paid off ? Should I insist on the title even if he has a letter from the finance company? Not sure about the laws of MD..

Please help !
Thanks
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Old 12-30-2011, 02:05 PM
 
Location: United State of Texas
1,708 posts, read 5,571,907 times
Reputation: 2110
Title in hand or no deal.

I would NEVER buy a vehicle if I could not receive the clear title in my hand at the time of purchase. You have no guarantee that this guy won't skip with the check and never pay off the car. Laws and methods of handling titles do vary by state. I'd ask your bank how they think it should be handled.
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Old 12-30-2011, 02:14 PM
 
29 posts, read 63,777 times
Reputation: 11
I am going to register/title in MD. I am paying cash, no bank involved. I found some information on MVA site, link below, but it does not clearly state anything about the title, just talks about the Lien Release letter/form.

Maryland Vehicle Title and Registration Information

Thanks

Quote:
Originally Posted by Zembonez View Post
Title in hand or no deal.

I would NEVER buy a vehicle if I could not receive the clear title in my hand at the time of purchase. You have no guarantee that this guy won't skip with the check and never pay off the car. Laws and methods of handling titles do vary by state. I'd ask your bank how they think it should be handled.
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Old 12-30-2011, 02:17 PM
 
Location: United State of Texas
1,708 posts, read 5,571,907 times
Reputation: 2110
Unfortunately the laws here are not going to be like the laws there, so I can't help with specifics. I would do whatever was necessary to make sure the lien is paid off and the title was issued to you. Otherwise you have no protection.
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Old 12-30-2011, 02:27 PM
 
Location: The Triad (NC)
29,838 posts, read 65,530,266 times
Reputation: 34901
Kevin, is this the same un-inspected Virginia car you were trying to buy in November?
Even if not... give it up already.

Find a car that is already inspected in Maryland AND with no title complications.

hth
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