351mach11647545510 Posted June 7, 2012 Report Share Posted June 7, 2012 Scenereo: You go to buy a vehicle off someone who has a loan. You agree on a price and you go to your bank whom you are getting a loan for the purchase through. Both parties sign papers for your loan and the release of their loan and title. All papers signed and loan processed. Seller then tells buyer he will not release vehicle until buyer has title in hand. Buyer is told by seller"s bank title will take up to 3 weeks to be sent. Buyer doesn't understand why he has to wait 3 weeks to take delivery on vehicle he has loan on and completed paperwork, especially when he can take said paperwork to get temp tags and insurance so he can start using the vehicle. What are your thoughts? Quote Link to comment Share on other sites More sharing options...
IVRINGS Posted June 7, 2012 Report Share Posted June 7, 2012 I would say the seller is dumb. He doesn't own the car the bank did. Buyer after completing the paperwork sould have the car. If not walk away since the buyer is on the hook for the car not the seller now. Just my .02 Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted June 7, 2012 Report Share Posted June 7, 2012 Sounds like the buyer has bought.... It is like going to McDonalds for a burger, having paid for it and it is sitting on the counter in front of you, but they wont give you the bag until they replenish the napkins lol. Quote Link to comment Share on other sites More sharing options...
Brrcats Posted June 7, 2012 Report Share Posted June 7, 2012 at that point the buyer gets the car. Seller is off his rocker. Quote Link to comment Share on other sites More sharing options...
351mach11647545510 Posted June 7, 2012 Author Report Share Posted June 7, 2012 Kinda what we were thinking Quote Link to comment Share on other sites More sharing options...
IVRINGS Posted June 7, 2012 Report Share Posted June 7, 2012 If you want to be funny call a tow truck and tow the car home. If they ask for proof of ownership you have it. Quote Link to comment Share on other sites More sharing options...
Not Brian Posted June 7, 2012 Report Share Posted June 7, 2012 Did you get a bill of sale? Quote Link to comment Share on other sites More sharing options...
harmonda Posted June 7, 2012 Report Share Posted June 7, 2012 You know those 'help you sell' businesses that deal with FSBO real estate? We totally need the same thing for Cars, Boats, Motorcycles, etc. You shouldn't have to work through a dealer to avoid these kinds of headaches on both sides of the sale. Quote Link to comment Share on other sites More sharing options...
351mach11647545510 Posted June 7, 2012 Author Report Share Posted June 7, 2012 its nothing about wether the seller will give it up. just kind of why would he deem it necessary to wait for the title before he would. IDK about a bill of sale. I know they both signed papers at the buyers bank so everything could be transfered and he has the papers from that. Quote Link to comment Share on other sites More sharing options...
IVRINGS Posted June 7, 2012 Report Share Posted June 7, 2012 Well I would get the car asap cause it sounds like something fishy is going on. Quote Link to comment Share on other sites More sharing options...
Brrcats Posted June 7, 2012 Report Share Posted June 7, 2012 its nothing about wether the seller will give it up. just kind of why would he deem it necessary to wait for the title before he would. IDK about a bill of sale. I know they both signed papers at the buyers bank so everything could be transfered and he has the papers from that. he shouldnt even be receiving a title. His bank should be sending the title to the current lein holder correct? I.e. your bank. He has no legal ownership of the car anymore, go get your car. If he doesnt relinquish it, ask him if he'd feel more comfortable with the police involved. Quote Link to comment Share on other sites More sharing options...
IVRINGS Posted June 7, 2012 Report Share Posted June 7, 2012 he shouldnt even be receiving a title. His bank should be sending the title to the current lein holder correct? I.e. your bank. He has no legal ownership of the car anymore, go get your car. If he doesnt relinquish it, ask him if he'd feel more comfortable with the police involved.x2 I would talk to the bank and then make sure he understands this. Quote Link to comment Share on other sites More sharing options...
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