Buying a truck!

[94fordguy]

Ok, so I'm buying a newer truck tomorrow that is a 2002 F-350 Super Duty Crew cab L/B 4x4 Lariat with a leveling kit... nice truck from a private party.

My question is... The person I am buying from has a bank loan on the truck, standard financing type deal, so she does not have the title in hand... What I'm wondering is what is the best way to go about covering the deal so that I make sure that I get my title as I will be paying cash in full? I am not sure if the bank loan is local or out of town, I didn't think to ask last time I talked to her.

She mentioned something about having some paperwork to fill out as her bank knows she will be selling it in order to get a pay off, but I don't know what kind of paperwork it is.

Any ideas or advice... Thanks

Gonna be nice to get back into a late model "Truck" again

 

[jaydog]

Hopefully it's a local bank/CU, you'll want to go down to the local branch, and depending on what she owes, you'll pay the bank directly I would think. Don't want to trust giving cash to her only to find out a few weeks from now the bank hasn't been paid yet. That bank should take care of the state paperwork switching the title into your name. Title 6-8 weeks later thanks to our wonderfully fast DOL.

If the bank isn't local, don't know how you would go about it unless you write a personal check direct to that bank for you/her to send in to pay off the loan leading to the same result as above.

 

[skibreeze]

Very simple even if the bank is out of town. Call them and get a 10 day payoff, and ask them what you need to do to get the title transfered.

 

[omernikski]

When I sold my truck with a lein on it I let the bank know and I had a lein release to give the buyer when I sold it so he could register it. The that day the truck was payed off.

 

[omernikski]

The "papers" are probably new ownership papers and lein release papers so it is a clear title.

 

[94fordguy]

Well the truck drove great and the deal went smooth. I got a very well detailed bill of sale and a notorized release of interest form so I can take it down and get it registered on Monday and finish the rest up when the title comes. She also gave me the contact information for the Credit union in Idaho where she had the loan at. All in all it was a very comfortable deal, no red flags came up to either my buddy I took with me or myself.

I gotta say this 02 F-350 rides 1,000 times nicer than my old 94 F-350 ever hoped to

Got back early enough to take the rig up for sledding afterwards.... deep day too made it even better

 

[94fordguy]

Well, I spent about half the day yesterday cleaning it up, detailing it, installing my truck box and a set of those plastic window vent shades, and lifting the running boards back up to where they are supposed to be... I think with a new set of wheels and some new rubber she will be looking pretty good. The current tires are almost shot and I hate the wheels it has... other then that... pretty happy

 

[Engine Pro 5x]

Your gonna like those heated seats !! >>>>.

 

[94fordguy]

Picked up a new used set of wheels w/ tires yesterday... tires are nothing special, but I'll probably run them till winter and get some nicer rubber then, definitely liking the new wheels tho

 

[Bushpilot]

Great truck I have a 1999 F350 Crew with over 300k miles now. IF you take care of it it will last a long time.