Buying a used car from a private party who is still making payments?

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jabraham@waukeganschools.org - 24 Apr 2004 15:54 GMT

How do I safely purchase a used car from a private party that does not
hold the title? I've talked to the seller and negotiated a price.
But she is still making payments. She wants my money to pay off the
car and then sell it to me. I would be a complete a.s to hand her
over money when she doesn't hold the title!!!! She said that she has
a title memorandum(whatever that is) and that we could write up a
contract explaining the sale of the vehicle. I'm no lawyer, and want
this transaction to be legally binding, but don't exactly know what to
do in this situation. I have no idea what she currently owes on the
car. Please let me know what steps I can do to purchase this car and
not worry about being scammed. Thanks in advance for your replies.

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Falcoon - 24 Apr 2004 16:20 GMT

-----basicaly put no title, no money.
if you hand over the money and do not get a title then and there, you are an
idiot and deserve to get robbed.

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NoSpam - 24 Apr 2004 16:32 GMT

You ask for a representative of her loan institution to handle her side of
the pay off directly with you. If she doesn't want to do that move on to
another car.
That's how it's done, they will disperse any additional funds after the
payoff to her. And they will either send you a title or your lending
institution if you are borrowing money.

Brian

> How do I safely purchase a used car from a private party that does not
> hold the title? I've talked to the seller and negotiated a price.
[quoted text clipped - 7 lines]
> car. Please let me know what steps I can do to purchase this car and
> not worry about being scammed. Thanks in advance for your replies.

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Mike Romain - 24 Apr 2004 21:30 GMT

You need to deal with the title holder directly.

'She', the driver has no legal right to sell it because 'she' doesn't
own the thing...

I would maybe give her a couple hundred deposit until the three parties
can get together. You pay the owner and give her the left overs....

Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's

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BrickMason@mailcity.com - 25 Apr 2004 00:55 GMT

You must first call the lien holder, find out the pay off price
to obtain the title which they hold. You and the title hold must
go to the lien holder pay them the amount of the pay off, if it
is less than the selling price of the vehicle, and pay the
balance to the owner. If the pay off is MORE than the selling
price then the owner must pay the balance of the pay off price.
After obtaining the title, both of you must go to an authorized
transfer agent, present proof that the seller is the actual title
holder, present proof that you have an insurance binder or
insurance policy on another vehicle you own then transfer the
title to you, obtain a license for the vehicle. Any thing else
in not legal.

mike hunt

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