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02-25-2013, 07:17 PM
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#1 | | My homepage has been set to RS
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| 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?
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02-25-2013, 07:20 PM
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#2 | | Willing to sell body for a few minutes on RS
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Just make the payment to BMW and you're good. They'll take what they are owed and give the rest to him.
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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 | |
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02-25-2013, 07:27 PM
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#3 | | My homepage has been set to RS
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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
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02-25-2013, 08:35 PM
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#4 | | Captain Happy Bubble is my Homeboy
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are you going to finance the car from the bank?
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speedking
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02-25-2013, 08:39 PM
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#5 | | My homepage has been set to RS
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| 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?
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02-25-2013, 09:17 PM
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#6 | | Proud to be called a RS Regular!
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I've done exactly what you've described and it was at a BMW dealer.
It worked out for me.
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02-25-2013, 09:22 PM
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#7 | | I help report spam so I got this! <--
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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.
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02-25-2013, 10:57 PM
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#8 | | Everyone wants a piece of R S...
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sounds like a good plan.
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02-26-2013, 05:38 AM
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#9 | | I answer every Emotion with an emoticon
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I think, its a good idea to get a copy of everything and anything that needs a signature, especially, yours
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02-26-2013, 06:20 AM
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#10 | | YOU CANT CUT BACK ON FUNDING! YOU WILL REGRET THIS
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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
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02-26-2013, 08:40 AM
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#11 | | I *heart* Revscene.net very Muchie
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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.
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02-26-2013, 07:01 PM
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#12 | | My homepage has been set to RS
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thanks guys. i will be doing the transaction sometime this week!
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