Car Buying Q & A

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Forum: Car Buying Q & A
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Buy a car from lien holder

Hi,

I am planning to buy a used car from Mr A who has a 3500 outstanding loan with wescom credit Union. the car is priced at 8000. Can you suggest how I can deal with this.
Should I get cashier check or deal with cash?
Also what I understand is when I pay off the money to wescom, they will remove the lien holder on title and send the title to seller[Mr A]. And Mr A will send the title to me. Is this correct?

Can you advise if i have to buy, what are the things i have to keep in mind and deal this correct manner?

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Re: Buy a car from lien holder

Personally I would not consider buying a vehicle private with a lien unless the holder would turn title into my name upon full payment - phone Wescom credit union to check their policy.

Sure you can surf the Internet all you want for answers and advice, to me the buttom line is, when you buy private you're at risk with any transaction.

There is a million cars out there,,, sometime a deal may seem to good,,, and a another pigeon is born.

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Re: Buy a car from lien holder

thanks for the update.