| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
 | 
02-25-2013, 07:17 PM
|
#1 | | My homepage has been set to RS
Join Date: Sep 2004 Location: vancouver
Posts: 2,039
Thanked 0 Times in 0 Posts
Failed 35 Times in 13 Posts
| Safe to buy a car with a lien on it?
I did some research and I believe my story is a little different.
So the car has a lien on it because he is still financing the car...
The suggested plan is for him and I to go in together to fill pay the car off and then the "lien" will be gone..
Before I go to BMW with him to pay it off I will have the transfer papers filled out and all signatures from him done.
Do you guys think it will be safe?
__________________
---------------------------------
Please Leave Feedback If Dealt With Me My FeedBack | 
|  | |
02-25-2013, 07:20 PM
|
#2 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,590
Thanked 3,807 Times in 1,353 Posts
Failed 83 Times in 42 Posts
|
Just make the payment to BMW and you're good. They'll take what they are owed and give the rest to him.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
| | |
02-25-2013, 07:27 PM
|
#3 | | My homepage has been set to RS
Join Date: Sep 2004 Location: vancouver
Posts: 2,039
Thanked 0 Times in 0 Posts
Failed 35 Times in 13 Posts
|
okay.. that's the plans we are both going to go in i pay what we said we would agreed on and he would pay the rest.. thing is I called BMW and they said that the "lien" will not come off for a couple of days and it gets sent to him not to me
__________________
---------------------------------
Please Leave Feedback If Dealt With Me My FeedBack | |
| | |
02-25-2013, 08:35 PM
|
#4 | | Captain Happy Bubble is my Homeboy
Join Date: Mar 2004 Location: whistler
Posts: 306
Thanked 21 Times in 5 Posts
Failed 0 Times in 0 Posts
|
are you going to finance the car from the bank?
__________________
speedking
| |
| | |
02-25-2013, 08:39 PM
|
#5 | | My homepage has been set to RS
Join Date: Sep 2004 Location: vancouver
Posts: 2,039
Thanked 0 Times in 0 Posts
Failed 35 Times in 13 Posts
| Quote:
Originally Posted by speedking  are you going to finance the car from the bank? | nope the plans is for me and him to go both to BMW to pay it off. We negotiated on a price, he pays his part I pay my part..
Both bank drafts.
Should be okay?
__________________
---------------------------------
Please Leave Feedback If Dealt With Me My FeedBack | |
| | |
02-25-2013, 09:17 PM
|
#6 | | Proud to be called a RS Regular!
Join Date: Feb 2008 Location: vancouver
Posts: 122
Thanked 23 Times in 15 Posts
Failed 3 Times in 3 Posts
|
I've done exactly what you've described and it was at a BMW dealer.
It worked out for me.
| |
| | |
02-25-2013, 09:22 PM
|
#7 | | I help report spam so I got this! <--
Join Date: Dec 2010 Location: Vancouver
Posts: 2,867
Thanked 1,215 Times in 535 Posts
Failed 275 Times in 114 Posts
|
Yes.
Lien papers will come to him, no need to worry about those.
Instead, ask BMW to write you a receipt/note saying the lien payment has been received in full and the lien will be cleared in approximately x days, any issues you should be contacted. Have them sign it. Take the copy with you.
| |
| | |
02-25-2013, 10:57 PM
|
#8 | | Everyone wants a piece of R S...
Join Date: Oct 2012 Location: vancouver
Posts: 375
Thanked 53 Times in 26 Posts
Failed 92 Times in 17 Posts
|
sounds like a good plan.
| |
| | |
02-26-2013, 05:38 AM
|
#9 | | I answer every Emotion with an emoticon
Join Date: Feb 2005 Location: somewhere
Posts: 7,906
Thanked 2,485 Times in 1,007 Posts
Failed 1,234 Times in 307 Posts
|
I think, its a good idea to get a copy of everything and anything that needs a signature, especially, yours
| |
| | |
02-26-2013, 06:20 AM
|
#10 | | YOU CANT CUT BACK ON FUNDING! YOU WILL REGRET THIS
Join Date: Feb 2009 Location: FL400
Posts: 5,866
Thanked 3,092 Times in 1,038 Posts
Failed 553 Times in 157 Posts
|
at a proper dealership with bank drafts I don't see this as being a problem. as ^ said, get a copy of everything before you guys part ways
__________________
Where the hell am I
| |
| | |
02-26-2013, 08:40 AM
|
#11 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2006 Location: 3rdrckfrmthesn
Posts: 3,701
Thanked 3,899 Times in 1,380 Posts
Failed 42 Times in 24 Posts
|
As an added precaution, ask BMW to remove their lien with PPSA/BC Online. As mentioned, a licenced and bonded dealer will usually do right by the client but the PPSA(Personal Property Security Act) removal will ensure that the vehicle is yours, free and clear.
| |
| | |
02-26-2013, 07:01 PM
|
#12 | | My homepage has been set to RS
Join Date: Sep 2004 Location: vancouver
Posts: 2,039
Thanked 0 Times in 0 Posts
Failed 35 Times in 13 Posts
|
thanks guys. i will be doing the transaction sometime this week!
__________________
---------------------------------
Please Leave Feedback If Dealt With Me My FeedBack | |
| | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 07:21 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
