CL ad. Do they realize what they're doing?

[Mick]

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.

[JohnC4X4]

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

[jghilino]

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.

[Mick]

John, you'd buy a car with a lien on it?

[JohnC4X4]

John, you'd buy a car with a lien on it?

I have no way of knowing if it has a lien or not
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

[GeorgeB]

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.

[submarinepainter]

I wouldn't touch it

[jghilino]

no titles and liens make for alot of extra work, that needs to be factored in to the purchase price

[Mick]

Oh, ok. Different states/different laws. Here, '97 on you need a title. The title notes the lien and release of lien.

[GeorgeB]

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.

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.

[Re-cycler]

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"

[sledge]

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!

[VERYOLDGUY]

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 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?

[sledge]

Veryoldguy: A Car is considered Personal Property.. thus has different rules governing it.

[cummins]

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

[Mechanic688]

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,,,

[glenn]

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,,,

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.

[VERYOLDGUY]

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,,,

That is what I kind of thought. I think the confusion is over the type of lien.
A lien for the property is different than a lien against the property.

[waredu]

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

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?

[JohnC4X4]

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