Buying a Truck with a Lien on it (4 Viewers)

[jahawk]

I've been looking for a 200 series for awhile. It seems that 80% of the trucks have liens on them. Anyone ever delt with paying cash for a truck with a lien on it? Is it as big a hassle as it seems to be?

Thanks,
Jim

 

[muttsinapig]

I did do this once (and was a bit nervous my first time). I met the seller at the bank that held the lien, which happened to be a local bank that he had gotten the loan through. I basically handed the money to the bank rep who “paid off” the lien and gave the balance of the money to the seller. If that makes sense.

 

[medtro]

I did it at the bank. Bank issued documents for temporary registration. Bank released the lien and sent title transfer request to DMV. It took close to a month to get the title in mail. Please send 200 contact info if you are not pursuing it.

 

[jahawk]

Thanks gentlemen. It might be worth it for the right truck I suppose. All the trucks I've looked at are on FB or Auto Trader.

Thanks,
Jim