Buying vehicle(s) with liens on title ?

Im not sure whats the deal of requiring removing lien from title after the loan was paid off. That got me scratch my head when you guys kept telling me why leave lien on it where I don't see point of doing that, unless I have plan to sell it which is likely not going to happen for a long time.
 
diehardbiker said:
Im not sure whats the deal of requiring removing lien from title after the loan was paid off. That got me scratch my head when you guys kept telling me why leave lien on it where I don't see point of doing that, unless I have plan to sell it which is likely not going to happen for a long time.
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huh? nobody has said such a thing.

and now you're starting to see things that aren't there.. must be a hell of prescription drug you're on...
 
I am under the impression that it is illegal to sell a car that has a lien on it.
 
diehardbiker said:
I just found out, it was 20 dollars, plus my time plus my mileage used to drive down to DMV showing letter that bank is satisifed and wait 10 days to get new title without lien, whats deal with it?

Its been like that for almost 8 years ago, and not even one tiny problem. Do you think banks are dumb enough trying to mess with me even after it is paid off? whats your fuss?
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Yes I think some banks are dumb enough to do that . I got a notice that my mortgage was over due and I knew I paid it. I went to my own bank and got a copy of my check that had been cash by the bank holding my mortgage and when back to that bank with my check and showed it to them . This happen a second time and I had to take time off from work to get a copy of my check again and bring it to the dumb bank and show them that they cash my check a few day ago and I am NOT late. I was pissed off and called the home office and the guy was upset when he heard what happen . He said I was one of their best customers. Now that was very dumb to me that bank did not know they had cash a check of mine two months in a row.
 
Steinhauer said:
I am under the impression that it is illegal to sell a car that has a lien on it.
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I'm guessing that if a car with lien has to be sold, it has to be done through a bank. No one would be stupid enough to give money for a vehicle with no title. I would guess that the debtor and buyer would meet at bank. After that, title will be sent in buyer's name. That is what I think would be done. I may be wrong.

I don't know if the buyer will be able to get the car if debtor owes money after bank meeting.
 
Tousi said:
Not close to what's happening here. Re-read.....
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OK , so the person that buying car will only pay the part you can't cover and get the title and you will have nothing and be out some money? Is this what you mean?
 
whatdidyousay! said:
OK , so the person that buying car will only pay the part you can't cover and get the title and you will have nothing and be out some money? Is this what you mean?
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I am guessing that buyer will pay only what car is worth. It will be up to debtor to owe rest to bank to avoid issues with credit. I don't know if that means buyer will be able to get the vehicle and title in mail.
 
diehardbiker said:
How so?

4 Financial Tips To Sell A Car With A Lien | Bankrate.com
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let me help you with a more accurate information from DMV

California - How To Conduct a Lien Sale for a Vehicle Valued at $4,000 or Less HTVR7
If the vehicle value is $4,000 or less, follow the steps below. These lien sale procedures cannot be used for a:

Vehicle valued over $4,000
Lien incurred at a self-service storage facility
Vessel and/or a vessel and trailer combination
Mobile home as defined in the California Vehicle Code (CVC) §396 as a trailer coach more than 102 inches wide or more than 40 feet long.
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Nevada - Private Party Vehicle Sales
Subleasing and "take over payments" arrangements are illegal. Any loan or lien on a vehicle must be satisfied before it can be sold.
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Arizona - Motor Vehicle Division
4) What documents do I need to transfer a title and registration?
Completed, signed title application (see # 6)
Signed and notarized vehicle title (or manufacturer's certificate of origin, MCO, if new)
Lien release, if applicable
Emissions testing, if applicable
All applicable title and registration fees (see #2).
Any other documents that apply (power of attorney - original or certified copy, personal representative papers)
If there is a lien on the vehicle that has not been paid off, written permission from the lienholder/lender will be required to add or delete a name.
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and I'm sure rest of the states say same thing
 
whatdidyousay! said:
OK , so the person that buying car will only pay the part you can't cover and get the title and you will have nothing and be out some money? Is this what you mean?
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nope. if you can't afford to pay for it, then a bank takes a car back.
 
dereksbicycles said:
I am guessing that buyer will pay only what car is worth. It will be up to debtor to owe rest to bank to avoid issues with credit. I don't know if that means buyer will be able to get the vehicle and title in mail.
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nope. see above. a bank will take a car back and then sell it.
 
diehardbiker said:
Im not sure whats the deal of requiring removing lien from title after the loan was paid off. That got me scratch my head when you guys kept telling me why leave lien on it where I don't see point of doing that, unless I have plan to sell it which is likely not going to happen for a long time.
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Tell me, please, where I said that......
 
Steinhauer said:
I am under the impression that it is illegal to sell a car that has a lien on it.
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In DHB's case, I don't see why there's a lien on a car he says he paid off 7 years ago UNLESS the car's now being used as collateral for something else with that bank.

But it appears that he's just not doing anything because it costs 50 or 75 bucks to get the pink slip sent to him.

Here in CA, they send us our pink slips after the last payment is made.....no charge. That's why my quip about governments/businesses everywhere thinking of different and legal ways they can charge us for their products......
 
Tousi said:
In DHB's case, I don't see why there's a lien on a car he says he paid off 7 years ago UNLESS the car's now being used as collateral for something else with that bank.

But it appears that he's just not doing anything because it costs 50 or 75 bucks to get the pink slip sent to him.

Here in CA, they send us our pink slips after the last payment is made.....no charge. That's why my quip about governments/businesses everywhere thinking of different and legal ways they can charge us for their products......
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Here in Georgia a lien can be put on a car by a person whom is owed money. Suppose dhb owes his ex wife child support. She can put a lien on anything he owns. He doesn't even have to be notified that a lien was placed. But ...she has to prove he owes.
 
What I am trying to say, is that if one wants to sell a vehicle that has current lien on it. Buyer would contact the lien holder directly, buyer would send a check directly to the lien holder if the lien holder agrees with the buyer and seller, and if it is not enough to satisfy the lien holder, then the seller must send check of remainder debt before the lien holder agrees to it. It is possible, but time consuming really. If want faster service, go to franchise dealer and they can deal with it themselves at a cost.

Only stupid buyer would send check to the seller directly while noticing lien holder on title.
 
Steinhauer said:
Here in Georgia a lien can be put on a car by a person whom is owed money. Suppose dhb owes his ex wife child support. She can put a lien on anything he owns. He doesn't even have to be notified that a lien was placed. But ...she has to prove he owes.
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Oh, now, I get it, thanks. I wish he had been a bit more clear. What you said is pretty universal......
 
diehardbiker said:
What I am trying to say, is that if one wants to sell a vehicle that has current lien on it. Buyer would contact the lien holder directly, buyer would send a check directly to the lien holder, and if it is not enough to satisfy the lien holder, then the seller must send check of remainder debt before the lien holder agrees to it. It is possible, but time consuming really. If want faster service, go to franchise dealer and they can deal with it themselves at a cost.

Only stupid buyer would send check to the seller directly while noticing lien holder on title.
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and only a stupid seller would sell a car without a clean title because that would be illegal. it's a theft and fraud.
 
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