Considering purchase of car whose title is w/Credit Union
01-01-2017, 01:54 PM
#1
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2006 Porsche 911, 1973 Datsun 240Z
Considering purchase of car whose title is w/Credit Union
Happy new year all!
Heavily considering the purchase of a car from long distance. Seller's M-B is relatively hard to find and haven't found anything closer to home after several weeks of hunting. Car has a full service history and I'm confident about the car itself.
Title is with his credit union, so here's the scenario. I meet up with him, go to his credit union/bank, we pay off the balance of the loan (it's less than the agreed price for the car), I drive home. But the title comes in the mail from the credit union.
I've never bought a car whose title is with a credit union. Anyone else? I know this is, shall we say unconventional, but does anyone see a problem?
Thanks
Heavily considering the purchase of a car from long distance. Seller's M-B is relatively hard to find and haven't found anything closer to home after several weeks of hunting. Car has a full service history and I'm confident about the car itself.
Title is with his credit union, so here's the scenario. I meet up with him, go to his credit union/bank, we pay off the balance of the loan (it's less than the agreed price for the car), I drive home. But the title comes in the mail from the credit union.
I've never bought a car whose title is with a credit union. Anyone else? I know this is, shall we say unconventional, but does anyone see a problem?
Thanks
01-01-2017, 02:47 PM
#2
Out Of Control!!
Title simply states lienholders, if any, you paid off one and assuming you provided the difference to the seller to get a clear title from whomever--however when you register the car ask the clerk for clarification if any!!
