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Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

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Old 02-25-2013, 07:17 PM   #1
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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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Old 02-25-2013, 07:20 PM   #2
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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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Old 02-25-2013, 07:27 PM   #3
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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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Old 02-25-2013, 08:35 PM   #4
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are you going to finance the car from the bank?
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Old 02-25-2013, 08:39 PM   #5
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Quote:
Originally Posted by speedking View Post
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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Old 02-25-2013, 09:17 PM   #6
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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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Old 02-25-2013, 09:22 PM   #7
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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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Old 02-25-2013, 10:57 PM   #8
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sounds like a good plan.
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Old 02-26-2013, 05:38 AM   #9
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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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Old 02-26-2013, 06:20 AM   #10
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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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Old 02-26-2013, 08:40 AM   #11
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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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Old 02-26-2013, 07:01 PM   #12
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thanks guys. i will be doing the transaction sometime this week!
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