Buying a car out of state that has a lien

[DSG SNAKE]

I'm looking into buying a car from a private seller in Nebraska. There is still a lien on it through Wells Fargo and the title is not held locally. Ideally, I would like to pick up, pay for the car with title in hand but it looks like this is not possible. I would have to pick up and pay for car then wait for seller to overnight me the title once it is received from the bank. Is there any way to safeguard myself to ensure I will get the title? I'm thinking I should be able to pay the balance on the loan directly to the bank (assuming it is less than selling price) and the rest to seller. I would definitely write up a purchase agreement of some sort. Any thoughts?

 

[MIWS62001]

I would call wells and get the process and policy to ensure you get the title since you are the one paying it off. They do it all the time so this is not a special request.

If you want to do a little more work and pay a little more, call a local dealer (ask for F&I) and see if they would flip the car for you with an 'administration' fee ($200-300.00??). Basically, you give the dealer money and they payoff wells. They get the title and mail it to you. You get back to MI, pay tax and reg the veh/flip the out of state title. Maybe Matt (Sponsor) could do it through Varsity??

Someone else please chime in, but I would definately call wells. Tell them you want to speak in general terms since you are not the cust and don't have an acct. They are always worried about 3rd party disclosure...

 

[91trunk]

I would call wells and get the process and policy to ensure you get the title since you are the one paying it off. They do it all the time so this is not a special request.

If you want to do a little more work and pay a little more, call a local dealer (ask for F&I) and see if they would flip the car for you with an 'administration' fee ($200-300.00??). Basically, you give the dealer money and they payoff wells. They get the title and mail it to you. You get back to MI, pay tax and reg the veh/flip the out of state title. Maybe Matt (Sponsor) could do it through Varsity??

Someone else please chime in, but I would definately call wells. Tell them you want to speak in general terms since you are not the cust and don't have an acct. They are always worried about 3rd party disclosure...

The dealer would have to buy the car, then sell it to you. You would then pay sales tax and whatever they add to the selling price. I would doubt a dealer would be willing to take on the liability to do this for you. It opens them up to a lawsuit since they are selling you the car instead of the original owner.

I would contact Well Fargo and ask them how you can avoid the original owner getting the title. If they won't send the title directly to you, then you'd better get everything in writing and have it notarized at a Well Fargo branch. That's the down side to buying a car with a lien. Good luck, unless the guy is a total scamming piece of shit, you should be fine.

 

[4 cam tbird]

I'm looking into buying a car from a private seller in Nebraska. There is still a lien on it through Wells Fargo and the title is not held locally. Ideally, I would like to pick up, pay for the car with title in hand but it looks like this is not possible. I would have to pick up and pay for car then wait for seller to overnight me the title once it is received from the bank. Is there any way to safeguard myself to ensure I will get the title? I'm thinking I should be able to pay the balance on the loan directly to the bank (assuming it is less than selling price) and the rest to seller. I would definitely write up a purchase agreement of some sort. Any thoughts?

There are Wells Fargo branches everywhere in Nebraska. You can't have it set up so that you do the transaction at a local branch that has the title ready to go?

 

[DSG SNAKE]

ill have to call wells fargo to see if that is an option. All they would need to do is mail the title to the closest branch. At this point, the seller is being a little stubborn on the price so I'm going to check out another one that's in vegas. I have a friend who is going there this week who said he'd check out the car for me. If it checks out, ill wire the money to the seller and ship it back here.