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Buying a car with a lien on it?

Discussion in 'Random Ramblings' started by chickenwings, Mar 3, 2013.

  1. chickenwings

    chickenwings Chillin' With My Peeps

    149
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    May 7, 2012
    Cheney, WA
    Hi all, I'm looking for some tips/info on a car ownership transfer. I am buying a car from a private party & it has a bank lien on the title. He just wants to free himself of the debt so the purchase price is the bank payoff amount (roughly $9000). I was planning on going to his house and doing a conference call with the bank (Wells Fargo) and paying off the debt..there is also an auto loan service location near his house if that is necessary. I am just hoping others may have some experience with this type of transaction so I can be best prepared & know what to expect (I have no idea!) lol. Thanks!
     
  2. Fred's Hens

    Fred's Hens Chicken Obsessed Premium Member

    We've just met the individual at their bank or branch office of their lien company. I want the title stamped clear or the clear lien letter at the time of transaction. No clear lien letter or stamp on title? No funds change hands.

    It really is pretty simple, but it's gotta be done.
     
    Last edited: Mar 3, 2013

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