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How to know if a car has been paid off?
Hello,
I am in San Jose CA. Could you tell me how to know if a car has been paid off? I am looking for a Honda. This car has a loan/lien in Carfax report. The seller told me that since he has the title in hand and can transfer it to me that means the car has been paid off and I do not need to worry about this. However I see that in the title the seller's name is only "registered owner" (no information about lien owner in the title) and in the car's registration there is lien owner (a bank). The title has just been issued recently and the registration was issued 5 months ago. Could you please advice if I should worry about this? Thanks |
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#2
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How to know if a car has been paid off?
On 10/27/2010 07:52 PM, Spring wrote:
> Hello, > I am in San Jose CA. Could you tell me how to know if a car has been > paid off? I am looking for a Honda. > This car has a loan/lien in Carfax report. The seller told me that > since he has the title in hand and can transfer it to me that means > the car has been paid off and I do not need to worry about this. > > However I see that in the title the seller's name is only "registered > owner" (no > information about lien owner in the title) and in the car's > registration there is lien owner (a bank). > > The title has just been issued recently and the registration was > issued 5 months ago. > > Could you please advice if I should worry about this? > > Thanks if there's no lien holder on the title, then there's no lien holder. and lien holders don't release title documents, they keep them safe in their own hands so people can't sell what they don't own. thus, if this is a genuine title document, and they're in possession of it, they have the unencumbered right to sell the vehicle to you. in the future, don't waste money on useless and out of date carfax reports - as you've just discovered, not only can they can be misleading as to title, they can be misleading about condition. some vehicles can be crashed and repaired, but have clean title and there be no carfax report, despite there being serious inadequacies. other times, carfax can red flag things like "salvage title" on vehicles that have no faults, but have been de-registered, say for long term storage. again, don't waste money on carfax. spend it on having the vehicle professionally inspected by a qualified mechanic. at the end of the day, your personal safety is what matters, not glorified [and expensive] toilet paper. -- nomina rutrum rutrum |
#3
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How to know if a car has been paid off?
Thus spake Spring > :
>Hello, >I am in San Jose CA. Could you tell me how to know if a car has been >paid off? I am looking for a Honda. >This car has a loan/lien in Carfax report. The seller told me that >since he has the title in hand and can transfer it to me that means >the car has been paid off and I do not need to worry about this. > >However I see that in the title the seller's name is only "registered >owner" (no >information about lien owner in the title) and in the car's >registration there is lien owner (a bank). Um, you can always call the county it's registered in. They should be able to tell you if there's a lien on the car. The other option would be to tell the seller to go with you when you change the title and registration. If there's a lien, you will know in about 10 seconds. BTW, he's committing fraud and perjury if he signs over a title without informing you that there's a lien on it. DO NOT buy the car at any place other than his home. You might test drive it somewhere else, but you need to make sure it's really his and this is one way to get a better feel. > >The title has just been issued recently and the registration was >issued 5 months ago. I think California is like Texas and the registration doesn't change until the owner changes. BTW, are you sure you don't have the two backwards? The registration should show the owner, who is the person who purchased the car. The title should show the owner AND the lien holder. If the registation shows anyone other than the seller, it's not his car. If it shows a bank, it might be a lease. I once drove a company car that had the RO as PH&H (Peterson, Heather and Howlle). The also carried the insurance and there was a statement, notarized, that I was the authorized operator. > >Could you please advice if I should worry about this? If he won't go with you to transfer the title, drive off at a tad bit over the speed limit. Say 75 mph in a school zone. > >Thanks -- - dillon I am not invalid Toby (Tri-Umph That's the Sweet Truth) March 1998 - June 2010 What a dog. What a dog! |
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