How To Transfer Title?
Thread Starter
Senior Member
Joined: Aug 2004
Posts: 277
Likes: 1
From: PA
CLS 55 AMG
How To Transfer Title?
Anyone ever have any experience buying a car from someone that has the title in their co. name. I have a deal to purchase a 06 CLS 55 with 33,000 miles, mint condition except 3 bent rims which are being repaired as we speak. The seller didn't tell me the title was in his co. name (he claims to be the CEO). He claims this mortgage co. is or is going out of business.
Well my credit union won't finance the deal until he sends over a "Article of Corp." which he is having problems delivering. Something about he and car is FL. the co. originated in California and since it has went out of business he would have to fly out to Ca. to find document. Does this sound wishy washy on his part? I sent him a $500 deposit thru paypal and also spent $180 on a dealer inspection.
Well my credit union won't finance the deal until he sends over a "Article of Corp." which he is having problems delivering. Something about he and car is FL. the co. originated in California and since it has went out of business he would have to fly out to Ca. to find document. Does this sound wishy washy on his part? I sent him a $500 deposit thru paypal and also spent $180 on a dealer inspection.
Super Member
Joined: Aug 2005
Posts: 801
Likes: 1
From: Mercerville New Jersey
1991 560SEC Teal 1989 420SEL Ice Blue 1984 500SEC White
Anyone ever have any experience buying a car from someone that has the title in their co. name. I have a deal to purchase a 06 CLS 55 with 33,000 miles, mint condition except 3 bent rims which are being repaired as we speak. The seller didn't tell me the title was in his co. name (he claims to be the CEO). He claims this mortgage co. is or is going out of business.
Well my credit union won't finance the deal until he sends over a "Article of Corp." which he is having problems delivering. Something about he and car is FL. the co. originated in California and since it has went out of business he would have to fly out to Ca. to find document. Does this sound wishy washy on his part? I sent him a $500 deposit thru paypal and also spent $180 on a dealer inspection.
Well my credit union won't finance the deal until he sends over a "Article of Corp." which he is having problems delivering. Something about he and car is FL. the co. originated in California and since it has went out of business he would have to fly out to Ca. to find document. Does this sound wishy washy on his part? I sent him a $500 deposit thru paypal and also spent $180 on a dealer inspection.
2nd) Have him give you the title, and you give him a document stating value of car as well as an uninvolved 3rd party to hold the car such as an appraiser.
Than transfer title, get the loan from credit union, pay the buyer at the appraiser or whomever you to decide to use as a 3rd party and call it a day.
3rd) Use a credit card and have the seller stay with you through Motor Vehicle titling and registering of the car.
If the guy is real I see no problem as long as you have good credit.
Thread Starter
Senior Member
Joined: Aug 2004
Posts: 277
Likes: 1
From: PA
CLS 55 AMG
1st) Is it a god deal?
2nd) Have him give you the title, and you give him a document stating value of car as well as an uninvolved 3rd party to hold the car such as an appraiser.
Than transfer title, get the loan from credit union, pay the buyer at the appraiser or whomever you to decide to use as a 3rd party and call it a day.
3rd) Use a credit card and have the seller stay with you through Motor Vehicle titling and registering of the car.
If the guy is real I see no problem as long as you have good credit.
2nd) Have him give you the title, and you give him a document stating value of car as well as an uninvolved 3rd party to hold the car such as an appraiser.
Than transfer title, get the loan from credit union, pay the buyer at the appraiser or whomever you to decide to use as a 3rd party and call it a day.
3rd) Use a credit card and have the seller stay with you through Motor Vehicle titling and registering of the car.
If the guy is real I see no problem as long as you have good credit.
