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  1. #1
    04gtxsc's Avatar
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    out of state car

    Guys need some info and suggestions. I am looking at buying a car from an individual in Texas. The car id financed and he does not have the title.. I can go get the car and he says if I pay him he will pay of the loan and sign the title over to me once he gets it from the bank. The Bank is Wells Fargo and the office that would handle it is in California so we cant go to the bank and do the payoff while I am there. Never met this guy buy he seems to be legit looked on the internet and found a guy with the same name in Naogdoches anyway. I have the vin of the car, i even have the loan number and payoff address for the car. Any thoughts on how to do this without as much risk?


  2. #2
    Q in Arizona's Avatar
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    I don't know man. What's so special about this specific car that you're even contemplating this?


  3. #3
    Click avatar for tech links/info, donation request K447's Avatar
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    What you are really buying is the title. Without title the metal thing is not really 'yours', no?

    You may need to talk to the bank that actually holds the title and ask them what the correct procedure is. They may want you to pay THEM directly, at least for the amount of the loan that is outstanding.


  4. #4
    oklagp1200r's Avatar
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    I wouldn't give him a dime without the title in hand!


  5. #5
    Moderator Insanediego Joe's Avatar
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    you need an escrow with impound accounts. no one gets paid until the paper work is right. The bank that holds title should be able to help with this.

  6. #6
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    Quote Originally Posted by Insanediego Joe View Post
    you need an escrow with impound accounts. no one gets paid until the paper work is right. The bank that holds title should be able to help with this.
    I agree. If he takes the money and then doesn't pay off the loan, you could have a mess on your hands. I recently bought a new car and I didn't even get a title. The bank holds it until the loan is paid off.

  7. #7
    This is how I run a jetski shop in the desert nmpeter's Avatar
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    this better be something special. Lots of exposure doing this deal, or inconvenience of galactic proportions.

  8. #8
    04gtxsc's Avatar
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    Thanks for all the input have talked to the bank and working with them to take care of it. Its not everyone's type of car but it is what I have been looking for and they are not many around. I had a red one that was totaled in august when I got t boned and spun into a tree.


  9. #9
    OzarkYamMonster's Avatar
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    Nice car John, hope it all works out. That will be some Christmas Gift

  10. #10
    04gtxsc's Avatar
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    yes Steve I think this is my Christmas gift. Wont fit under the tree but don't care. Going to put the thermals on and the down coat drop the top and go for a ride.

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