Buying a used sled

[mlca]

I am buying a used sled from a guy who has it financed. How do I get the title? I am driving twelve hours to pick it up and would like to leave with the title in my hand. Every sled I have ever bought has been new or owner had the title and we did the transfer on the spot. I would like to give people the benefit of the doubt but driving all that distance has me a bit concerned.

Thanks

 

[CuzzinOlaf]

I am buying a used sled from a guy who has it financed. How do I get the title? I am driving twelve hours to pick it up and would like to leave with the title in my hand. Every sled I have ever bought has been new or owner had the title and we did the transfer on the spot. I would like to give people the benefit of the doubt but driving all that distance has me a bit concerned.

Thanks

I suggest meeting at his bank. I bought a boat from a guy and met at his bank to get the title when I paid off his loan.

 

[Himark]

financed by who?


If its "Skidoo/Polaris" finance that is just a cover for the real credit card peeps and if it is he is paying un-gawdly interest and prolly owes more on it than you are paying him. I would check that out, and make arrangements with them for a release for x amount of dollars.

 

[donbrown]

I am buying a used sled from a guy who has it financed. How do I get the title? I am driving twelve hours to pick it up and would like to leave with the title in my hand. Every sled I have ever bought has been new or owner had the title and we did the transfer on the spot. I would like to give people the benefit of the doubt but driving all that distance has me a bit concerned.

Thanks

By telephonew you can contact the creditor and get a payoff release .... so the creditor tells you how much to pay by a certain date or it will be more money because of interest.

Typically you pay it off and they mail you a title clear of any lien.

If you go to the guy and he signs the title with the lien on it it might not transfer or the guy selling it will still be liable for the loan and sled.

So you need to be very aware of the loan, its term and conditions to transfer and pay it off.

 

[mlca]

He said the local credit union has the title.

 

[HUNDO]

Then definitely meet at his credit union so they can hand the title over and you can see him pay it off. When I bought mine, the guy gave me the title but it still had the lienholders name on it so the state wouldn't transfer it to me. Found out that he owed more than I paid but luckily, he paid it off the next week and I got the title. Could have been a bad situation otherwise...

 

[revrider1]

Then definitely meet at his credit union so they can hand the title over and you can see him pay it off. When I bought mine, the guy gave me the title but it still had the lienholders name on it so the state wouldn't transfer it to me. Found out that he owed more than I paid but luckily, he paid it off the next week and I got the title. Could have been a bad situation otherwise...

ditto

 

[donbrown]

He said the local credit union has the title.

As i wrote before ... you need to be very aware of the loan, its term and conditions to transfer and pay it off.

Call up the credit union and tell them you are buying it ... wait for a response.

 

[donbrown]

So did you get the sled?