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2003 Saturn Ion
2003 Saturn Ion (Raymond)
Free 2003 saturn ion , transmission seal is gone . Have a loan through a company and cant get the title and they wont come get it . So it would be a good parts car or w.e you want to with it . you come get it your gain my loss . fist come first serve.
Only about 2700 pounds
Decent Parts Car
Parts sell good on eBay
Nice Cat
I would have given them $150.00
Happens all the time on older cars
repair is more then the car is worth
So the bank does not want to waste time (money) to get it
and the people just want it out of their yard
I have bought a few cars that have leins on them, usually people go to the bank and get a loan / title loan on the car, then try to turn around and sell it again. As soon as i see a lein on the title i offer scrap value for the car regardless of what they are asking for it. Another trick that they are pulling is they will get a duplicate title made, then go use the original title to get a loan, so you need to make sure the title you have is the original.
John, you'd buy a car with a lien on it?
I have no way of knowing if it has a lien or notQuote:
Originally Posted by Mick
If 10 years or older, I don't need a title
Just some kind of proof of ownership >> Old Reg, Insurance paper
Something with the VIN and their name or it
They can deal with the bank if they still owe money on it
I have done 2 I know of like this, The people were up front and showed me the paper work from the Bank saying Bank had no interest in the car because of the age and mechanical issues
BUT they were not going to give up the title
and as far as I know, I would think the loan still shows as an unpaid loan on their Credit
What owners never realize is that just because they get rid of/sell their vehicle, they still owe the lien on it.
Unless it was really old, like John stated, I wouldn't dare touch it. The lien holder could come after you and sue you for grand theft, since technically by law they own the vehicle until the debt is paid off.
Also like john said, if they have paperwork stating that the bank had no interest in the vehicle, as a precaution, I would contact the lien holder just to ensure.
I wouldn't touch it
no titles and liens make for alot of extra work, that needs to be factored in to the purchase price
Oh, ok. Different states/different laws. Here, '97 on you need a title. The title notes the lien and release of lien.
Same here. All titles will note if their is a lien or not. My yard personally doesn't care. Heck cars I got in the past came from foreclosed properties. No titles. Just put the vin down with some name to it, and they honestly dont care.Quote:
Originally Posted by Mick
However, if I am getting it from an actual individual, and not foreclosure, they will definitely need to show me something that proves they own the vehicle.
That would be a double header for the cops 1 selling and 1 receiving a stolen car.
I have turned down lots of cheap and even free vehicles with liens that I was sure would not have been traced, but taking that chance is not worth a little cash.
I Like what rights I still have and once you have a criminal record of any type those rights are reduced.
"When I do right, no one remembers, When I do wrong, no one forgets"
On my bill of Sale (State BMV form) I do the following if they want to sell a vehicle but the title is lost:
1. Write down something to the effect of: I the seller on this bill of sale swear that I am the legal owner of said vehicle, I affirm that there are no liens on the vehicle and that I have the right to sell/dispose of this vehicle. I also am releasing the buyer on this Bill of sale of any liability for the use and/or disposal of said vehicle
2. I make them give me their drivers license, I write down the # and have that on the Bill of Sale
3. I then have them sign and print their name and date it (The Handwritten part)
4. This is in addition to them signing the form part above as the owner!
I know this post is a little old, but quick question. You seem to know your stuff. On a house the lein transfers to the buyer since a house and a car are both real property is a car different?Quote:
Originally Posted by GeorgeB
Veryoldguy: A Car is considered Personal Property.. thus has different rules governing it.
we've hauled two cars this spring so far like that. as far as were concerned the lien is between them and the bank or lender. were not transferring ownership were scraping it. soon as its off my trailer the yard crushes it and the title gets stapled to the bill of sale and put away in case it gets reported stolen or the cops show up at the yard and start running vins ether way not my problem as long as its signed and the vin matches we load it strip it and dump it. they bank can't go after me i never signed anything
If it has a lien on it then you will not have a title to staple to anything. The bank or credit union has the title. And if your taking it to the yard to be crushed then your an accomplice with the yard to dispose of stolen property,,, ;(Quote:
Originally Posted by cummins
in Missouri you get your title back lien or no lien, this started a few years back, all my buyer cares about is a title that is signed by owner of the vehicle, I have hauled in several for owners they sign title and I deliver to scrap yard.Quote:
Originally Posted by Mechanic688
That is what I kind of thought. I think the confusion is over the type of lien.Quote:
Originally Posted by Mechanic688
A lien for the property is different than a lien against the property.
Don't you sign a slip at the yard saying the property is yours to dispose of? How can you sign that if it's not yours it's the bank's?Quote:
Originally Posted by cummins
My yard I don't sign anything
Weigh on the way in
Weigh on the way out
Go into scale house and get yellow copy of weigh slip with amount being paid (Ca$H) in upper right hand corner
Go get another vehicle >> Repeat as necessary
They don't require signed statements in Mass? Here, I sign every time for any amount.
With the yard I deal with for the vehicles,
I don't have to sign anything
Just did 2 today >> Price is down to $170.00 a ton and I have been told don't be surprised if it reaches $150.00 in August
Older then 10 years old, i don't even need a title
I fill out a small piece of paper with the VIN so they can enter into the data base at the end of the day
Wow sounds like a pain in the ass in other states. Here's something California actually has that's easier. I get vehicles all the time that have a lienholder listed. Sometimes the lien is paid off but the owner failed to go to dmv and remove the lien from the vehicle's record. As long as they have the title that the bank gave them I'm golden. But usually people lose the title so instead of dealing with banks and notaries and lien releases it's just easier to attach my own lien to the vehicle.
There's companies out here that you send the vin and license plate info to and they do the lien for you through the DMV. It takes 15 days if it's a junk vehicle that is getting scrapped, or 30 days if you want to have the option of reselling the vehicle to a private party. You also specify what day you received the vehicle and how much your towing and/or storage charges are per day. As long as no one objects (never happened in 4 years I've been doing this because no one wants to pay the storage fees among other reasons), then after the time passes, your lien supersedes the old lien and the vehicle becomes yours to do whatever with.
There's other reasons to do a lien sale on a vehicle as well. Some examples include vehicles with no titles or registrations indicating the previous owner, or there's been so many transfers that some names in the paper trail are missing from the paperwork present. Out here there's titles on every vehicle no matter what year they are.
Anyway, I've had a bank call me once or twice during the lien process but they've never came for the vehicle. I think it was just to gather information to write the vehicle off as a loss.
Hi JohnQuote:
Originally Posted by JohnC4X4
I guess I will have to start heading down Your way with any junk cars . I usually just go to Millis , and recently took my wife's aunt's car over there , a 1992 ford , when they discovered that I didn't have the title with me , they were ready to have it towed off the property .( it's Not like they don't know me , I have known the manager since the 1960's and helped him with his race car at Norwood arena )
She was able to find the title after 20 + years , and I brought it to them .
Bob
In California, the lien holder will come after you. I have a good friend that owns a tow company and has contracts with the local sheriff and highway patrol. He's called out to tow cars when the person is pulled over for drunk driving, or gets pulled over and doesn't have insurance or a license, and he tows their car back to his tow yard. The first thing he does is put a lien on the car for the towing costs.
This is how he makes his money, when the person comes to pick up the car, they have to pay for the tow, and storage. Under California law, the owner of the car has to pick the car up, they have to have a current license and insurance, if they do not they cannot get the car. Sometimes it takes the owner longer to get their license and insurance together than the time the lien becomes legal. In that case, the car becomes the tow companies legal property. Many many times their is money owed on the vehicle and a bank holds the paper on the car or is the legal lien holder. However, the two company can still file a lien on the car, and my friend does so. If the bank wants the car back, they have to pay the two fee, and the storage fee so he still gets payed if they decide to pick the car up, but here is the disconnect. Banks are really only concerned about cars that have delinquent payments, the ones where the car payments are not over three months delinquent, they don't pay attention to. If the car is not delinquent, when the bank receives the lien papers on the car, they just contact the person who holds the loan and the registration papers on the car, at most, and many times don't even do that. Because you have this three month period of time, the two company has a very good chance to legally become the owner of the car because in California it only takes 60 days for the lien to go into affect.
So no matter what, the tow company makes their money.
I am sure most states have laws in place that will be similar. It seems you could use these laws to legally place a lien on a vehicle and gain ownership.
Scott