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Questions About Private Sale Transactions

299 messages,  Last post on Feb 15, 2013 at 5:07 PM

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What is this discussion about? Car Buying, Car Selling, Car Values

Messages Page 26 of 30

#249 of 299 Owner needs to be present for loan closing? by grmile

Mar 22, 2011 (1:19 pm)

My mother wants to sell her car to a friend who lives in MD. I also live in MD, and can deliver documents such as the notarized signed title and bill of sale (a MD-required item). The car is owned outright by my mother, but the friend wants to get a loan from her credit union. The friend's credit union is insisting that in order for the loan to be finalized, the owner (my mother) must be present. Is this a common practice, or is this policy out of the ordinary?
  
Thanks in advance for any replies or information.

#250 of 299 Re: Owner needs to be present for loan closing? [grmile] by MrShift@Edmunds HOST

Mar 22, 2011 (3:58 pm)

Replying to: grmile (Mar 22, 2011 1:19 pm)
Talk to someone else at the credit union. The title is notorized for goodness sake.

#251 of 299 Buy in Florida, drive to New York by oldfarmer50

Apr 02, 2011 (4:27 pm)

I'm toying with the idea of buying one of those beautiful rust free Florida cars and then driving it back to where I live in NY. I'll be registering it in NY but how do I get clearance to drive it to NY?
 
NY requires a title document. Does Florida have an actual title document that the seller signs over or is there some other form of ownership proof like a "pink slip" as in California? I'd hate to get the vehicle back up here and find I can't register it.
 
Lastly, do you get some sort of temp tags to do the drive up the coast? I'm not sure how that works either.

#252 of 299 Re: Buy in Florida, drive to New York [oldfarmer50] by MrShift@Edmunds HOST

Apr 02, 2011 (6:12 pm)

Replying to: oldfarmer50 (Apr 02, 2011 4:27 pm)
A California "pink slip" is a title, and yeah, Florida has a title.
 
Best thing I could suggest is getting info about this right from the horse's mouth.
 
So click on the city where your dream car is located (if you know) and it'll show you the contact info you need to call Florida DMV and ask these questions:
 
FLORIDA DMV OFFICES
 
What makes you think that all cars in Florida are "rust free"? If the car lives near the beach, you may find plenty of rust.

#253 of 299 Re: Buy in Florida, drive to New York [Mr_Shiftright] by oldfarmer50

Apr 04, 2011 (2:52 pm)

Replying to: MrShift@Edmunds (Apr 02, 2011 6:12 pm)
"...you may find plenty of rust..."
 
Remember, you're talking to an upstate NY boy. Up here the cars are delivered new with rusted out fenders. We've been to the Tampa area and the cars are showroom new in comparision. I've seen a lot of 30 yo cars that look like they just rolled off the assembly line.
 
Thanks for the link.

#254 of 299 Re: Buy in Florida, drive to New York [oldfarmer50] by MrShift@Edmunds HOST

Apr 04, 2011 (6:05 pm)

Replying to: oldfarmer50 (Apr 04, 2011 2:52 pm)
Well you don't get road salt down there but if the car lives near the ocean, you are going to find at least exterior rust on trim parts, etc and if the car had any leaks you'll see it in trunk wells, floorpans, etc.--they get a lot of rain in parts of FLA.
 
But a car in a garage will probably be fine.

#255 of 299 Selling a financed car by zyaaaaa

May 04, 2011 (5:41 pm)

Tried scanning the other pages, but couldn't find the answer... if you sell a financed car to a private party, what's the best way to coordinate the payoff and title transfer?

#256 of 299 Re: Selling a financed car [zyaaaaa] by qbrozen

May 05, 2011 (7:46 am)

Replying to: zyaaaaa (May 04, 2011 5:41 pm)
The best way, IMHO, is through a bank. They can handle all of the paperwork.

#257 of 299 Do I have to sell my car before I get another one? by airtas

May 29, 2011 (1:44 pm)

I wanted to purchase a new car from a private party
 
but I owe money on my current car.
 
I have about 7,000 in equity in my car though
 
Can I do a loan with the $7,000 included in the loan and once I sell my car put the $7,000 towards my loan?

#258 of 299 Re: Do I have to sell my car before I get another one? [airtas] by jproc

May 31, 2011 (6:11 pm)

Replying to: airtas (May 29, 2011 1:44 pm)
Are you are asking if a Bank will lend you 7k more on a loan than the new car is worth ?
 
There is a better chance that the next rapture prophesy will come true.

Messages Page 26 of 30

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