QuestionQUESTION: Hi,
In Texas....I am looking to buy a 09 chevy z714x4 LTZ with only 17,000 miles on it for 24k...is this a good deal?
Bad is its not paid off and the truck was bought in Chicago..The seller says we can wire the money threw chase bank and get a comp. # then the title will be sent to his home address then to me.....
My prob with this is not the banks its him having a unexpected momory lapes with the title/truck now being paid off....
He says he has a bill of sell but i dont think that would hold up in court ...not saying the guy`s a bad just wanting to be safe i told him if i cant get the title in hand at the time of the sale then no deal ...but am i missing out on a good truck deal ....Thanks for your time Sir......
ANSWER: Hey Shane,
Yes you are missing out on a good deal for people with no brains.
I am very happy you touched base with me before the fact not after,,,without going into detail you simply stay away from this one.
I would be interested to look at a link ??? have you got one, I kind of like to talk with the seller to check for red flags,and report findings back to you.
Ray http://www.usedcartips.org/index.html
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QUESTION: so what the right way to do this im sure im not the first to ask??
ANSWER: No you are not the first to ask, but when it comes to title issues it's a sticky question as each state don't deal with this in the same manner.
When you link to allexperts there is a field you can ask a question, enter,,, " Buying a car w/ a lien " you will find many answers posted by myself and other experts on the matter.
One of the best answers, will be listed at top or near ,,, Jan 1/09 by Jermey Beck, Jermey is no longer with Allexperts, I considered him an excellent expert, and he happened to be from Texas, so I am sure most of his answers was within Texas law.
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QUESTION: ok got it ...one more ..... what if i went to my bank and told them i want to take out a loan for the pay off amount of the truck and have them do all the work ...then pay it off when the first payment comes in...
AnswerGood idea if you don't mind the bank set up fees that I mentioned earlier.
I would go to the bank wanting certified funds, but at same time ask if this step is the best procedure " explain the problem " it's your bank to serve you,,, and if the bank person can't answer the question to your satisfaction,,, simply ask for someone that got knowledge in this area ,,,,,,,,, I am sure the bank has been through this many times.
Lastly,,,OK,,, let the bank deal with it.
