2004 SSR with 18,000 miles These are getting hard to come by with the limited production on these vehicles. There were only 10,315 of these made of those only 2,682 were the Slingshot Yellow. This has custom hardwood bed rails. Has an add on with the bed carpet and has custom pin striping. The vehicle has never seen wet pavement. I have a current lien on the vehicle and only asking for what I owe. Change in employment forces the sale. $24,000
2004 Slingshot Yellow
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Buyer beware. In our state a lien means no clean or clear title. Just my opinion and we know what that is worth. Maybe they meant loan?
In my state when you take out a loan on a car, a lein is placed on title.
This is not a problem but means you must purchase from loan company to get title. If anything left owner gets it, if you pay less owner must bring cash to the table. Nothing wrong, but sometimes a hassle. I know because as a school teacher I have used this process to buy all of my wife's cars and my SSR (most expensive car I've ever bought, 25K). My daily drivers are cheap and I pay cash.
This is not a problem but means you must purchase from loan company to get title. If anything left owner gets it, if you pay less owner must bring cash to the table. Nothing wrong, but sometimes a hassle. I know because as a school teacher I have used this process to buy all of my wife's cars and my SSR (most expensive car I've ever bought, 25K). My daily drivers are cheap and I pay cash.
A LIEN TITLE is usually a car title ( could be anything that has a title) that has a lien against it (usually a bank or finance company) who has an interest in the property because it has been used as collateral for a loan. If the loan is not paid, the lien holder can repossess the car to help and sell it to help pay the loan off. The title is usually held by the lienholder. When the loan is paid off, the lienholder signs the title to release the lien which creates a CLEAN TITLE. ( no lien). Yes it is a car loan.
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Guess I misunderstood. All should be good to go. Sorry if I confused anyone on this.
Bottom line [is] you only pay the lien holder & not the person driving the truck. I mean you didn't go to school with each other? You do not know the person at all............Would you give $24 grand to a stranger? Even if you go to the lien holder together and pay [his] truck off & he gives you the truck............HE is the person who will receive a clear title in HIS name in about two weeks........NOT YOU????? Two things can happen. He can complete the deal and sign [HIS] new clear title over to you [or]............the other option is very bad!.................. I am sure this seller is honest and will complete the deal. If someone knows a way to guarantee a lien deal please post it......I am know to be wrong?
I'm not bad mouthing any seller of any vehicle:::::::& apologize if this offends anyone...................
Bird
I'm not bad mouthing any seller of any vehicle:::::::& apologize if this offends anyone...................
Bird
WELL you make it sound simple. Just how, when his title says [lien] and the DMV has the paper work that says [lein] in there records can a bank do anything? The lien holder has to be paid with the [buyer's] funds as the seller doesn't have the money. The DMV is only going to send the clear title to the registered owner [after] the lien holder holder notifies the DMV that the lien has been satisfied? As I see it your back to my sanareo. YOU might have the truck, but his paper work now shows he had a clean title in HIS name?????
Bird
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I have bought vehicles in the past where money was owed to a bank or credit union. If you both go to the bank they can orchestrate the sale and they can request the new clean/no lien title be sent to them and then they give it to you and then the old owner gets the money. Takes a couple days. I suggest if you are interested to buy, meet the owner at the bank or credit union and they will take care of everything.
Some states use power of attorney for this very thing. I'm new to AZ and not sure how the laws are here. I will check on it Tuesday. If someone here in AZ knows please advise.
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An easy way I would think is call your lender, who carries the loan, and ask them what to do. I am sure they do this all the time. Just an idea. Good luck.
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Definitely no expert on this stuff, Thumbless . . .
However, just from my personal experiences with a few vehicle transactions since relocating to Tucson about 20 years ago . . . the MVD (not the DMV as in other states) actually issues the Arizona Vehicle Title right on the spot.
Once all of your obligations have been satisfied and released, a clear title should be issued immediately and turned over to the new owner. Of course that would also depend on the form of payment by the new owner.
Good Luck.
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