QuestionDear Ray,
I am interested in a car sold by a private owner and there's a lien record on it. I am in VA and he is in WV which we are not far from each other however we are in different state. Here is the mail he sent to me:
As for transfer of title (I sold cars for a living for a while), the normal process for selling a car with a lien would be to sign a notarized bill of sale. This would make the transaction legal and binding. After you pay for the vehicle, I will send that money to the lien holder. They would release the title to me, at which point I would sign it and fill in my information as the seller and mail it to you. The best place for us to meet would be somewhere that has a notary public.
At this time, he do not have enough money to pay off the loan. I am a new international student in USA. Could you please give me some advises on that? Is this a normal process or a scam? Thank you so much.
AnswerHi min
I am not going to say it's a scam but buying privately compared to a registered dealer you will have no recourse , read this link on my website for an understanding buying private vs dealer http://www.usedcartips.org/privatevsdealer.html
As for meeting at a notary public place will have no play if the seller don't send the money to the lien holder, here is the steps I would follow.
Get seller to receive a fax or email from lien holder stating that they will have no further interest in vehicle when $$$$ is received, seller forward a copy to you at which point you will contact the lien holder to make sure it's a legitimate establishment.
Whatever money is owed you forward that amount to lien holder and pay seller the balance.
PS... If something is not clear to you forward a phone # to me where you can be reached, I got free calling throughout north America, also if you post back check the make private box or you will have your phone # plastered all over the Internet.
Hope this helps
Ray
