How do i purchase a vehicle from a private party that they still owe on the loan? - free georgia purchase and sale agreement
I want to buy a car. This car is exactly what I want. I live in Georgia, the car is in North Carolina. The seller is a triple / family, the car still has a balance of the loan (bond).
How to buy and to reduce my risk if I am sure to get the car and title free and clear?
Can you agree with the Bank of MI and / or providers of financial institution?
Not only have I to trust in man?
I need to know the circumstances of the purchase price, if they
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or greater than (>)
The balance of the loan on the vehicle. Let us assume that the vehicle is 2 years old and needs a title to transfer the property.
Sunday, February 14, 2010
Free Georgia Purchase And Sale Agreement How Do I Purchase A Vehicle From A Private Party That They Still Owe On The Loan?
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2 comments:
Response of a general insurance agent
It is illegal to sell, and a breach of the contract for the purchase of the vehicle to a third party without having to pay what they still owe on the loan.
It's called "Grand Theft Robo"
In addition to the foregoing. There is also a crime, goods not belonging to, or has not been shown to offer a financial interest.
If you buy the car, they will refinance the vehicle and pay the bill to another, or if you pay by cash, the seller can accompany your lender and you pay in person.
The seller is not the true owner of the vehicle until it has finished paying for it. You can not sell legally, this finding does not apply.
Like all the figures you requested. Your finance officer at your bank or lender to go over everything with you.
Each bank has its own evaluation and ranking criteria, so there is no general answer to your question. Numbers will change from one bank to another.
Take care
You have to pick the right car? So for the seller during the opening times of the bank. The two go in person to the bank holding the lien and pay the loan. The bank gave him the title, he signed for you and the bank is notarized. Made.
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