Buying a Truck with a Lien on it (3 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

 

[Pitch]

Similar to the above experiences; I “bought” the truck at the bank… they closed at the lien and the seller got the balance. Also, MVD work can be done remotely nowadays, no notary needed, but the bank would have one anyway. If it is an online/no local branch lien holder… I can’t help you.

 

[blatant]

yep. Just go to the bank / YOUR bank, if approved, they'll verify and sort it. You should be fine to drive off with it.