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Old 01-05-2011, 07:45 PM
 
Location: NC
660 posts, read 1,464,474 times
Reputation: 178

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I plan to buy a used car from a private seller. The seller has a lien on the car.

So they only have copy of the title. The original per them is with the lien holder.

How does she go about selling and myself buying this car the clean way? (We don't know each other personally)


Thanks
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Old 01-05-2011, 09:40 PM
 
1,106 posts, read 3,303,535 times
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Is the lien holder a bank? If so it shouldn't be a problem. Especially if it is a local bank like State Employees.
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Old 01-05-2011, 10:25 PM
 
Location: NC
660 posts, read 1,464,474 times
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I don't know who the seller's lien holder is.

So whats the correct procedure here? I don't plan to pay the seller directly when the car is held by a lien etc...
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Old 01-06-2011, 06:55 AM
 
11,116 posts, read 17,412,640 times
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She cannot sell a car with a lien on it. She has to pay off the car and get the original title before she can transfer the original title to you. If she tries to transfer with a photocopy of the title to you, that would be fraud.

To be certain of the procedure, call or e-mail the NC DMV. They answer e-mails in a reasonable amount of time.
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Old 01-06-2011, 08:12 AM
 
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You should contact the lienholder for specific instructions. The usual (preferred) method would be for the buyer and seller to meet at the bank (lienholder). The buyer cuts a check to the bank for the payoff amount, and another check to the seller for the balance. Then the bank will handle all the paperwork from there (i.e., re-registering the title in your name). If you can't both meet at the same time, the bank will have procedures for handling it by mail or electronically.

You should never give the payoff money to the seller, or you could get ripped off.
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Old 12-29-2012, 09:07 PM
 
1 posts, read 41,427 times
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i paid the whole amount to the seller,idon tknow what to do now to recover my money. but i have the car with me.
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Old 12-30-2012, 10:03 AM
 
Location: Phoenix, AZ > Raleigh, NC
17,462 posts, read 23,133,176 times
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Quote:
Originally Posted by creslangel View Post
i paid the whole amount to the seller,idon tknow what to do now to recover my money. but i have the car with me.
But do you have the title in YOUR name????? I doubt it. Which means you are essentially driving a 'stolen car' and probably have no valid insurance since you don't the car.

This is a SERIOUS matter. Do yourself a favor and contact DMV and the original owner as soon as possible. You got a Big Problem, son.
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Old 02-19-2014, 11:02 AM
 
5 posts, read 63,514 times
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i buy atv but the pink have lien the bottom how i know if is pay off . the owner can get the pink with a lien
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Old 02-19-2014, 12:47 PM
 
Location: Raleigh
11,525 posts, read 8,898,985 times
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Quote:
Originally Posted by tavooo51 View Post
i buy atv but the pink have lien the bottom how i know if is pay off . the owner can get the pink with a lien
If the owner has the lien release card, you're good to go. If he doesn't have the lien release card, You have to contact the bank that issued the lien with the serial # of the ATV and verify that its paid off. If it isn't, then you need to verify that he has transferred funds to the bank in the amount of the lien to make sure its free and clear.
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Old 02-19-2014, 05:36 PM
 
1,964 posts, read 2,927,563 times
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If the leinholder isn't the bank, it gets pretty sticky as other posters alluded to. Sometimes it's creditors but sometimes it could be a family member who wants to prevent someone from selling something. I once encountered a nice 63 Cadillac that had been sitting in a barn in a rural area with this very problem. It is a precarious situation!
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