Buying in VA driving to OH
I actually got pulled over 10 mins away from my house. Cop asked what the plate belonged to and i told him my truck and showed it's registration and then showed him the trip permit. He understood i just purchased the vehicle and let me go. He really just wanted to check the car out i think as he gave me a compliment and told me to have a good night.
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After talking to just about everyone under the sun today... no one really seems to know the best way for me to cover my *** buying a car out of state, with a loan on it through an out of state bank The best info I could gather so far is to pay the guy who owns it with a cashier's check or something and then do a bill of sale with all the info necessary and have it signed by both of us and notarized. He bought the car through a dealer who got him financed through an out of state bank so no branches anywhere close to him to go "pay off" the car. He will have to mail or wire transfer the funds to the bank to pay off the car, wait for the title, and then sign it and mail it to me. Neither of us really knows how this whole bit works but then again neither does anyone at the bank or DMV ha.
I really don't think I'm going to get screwed by the guy, but does anyone know if the bill of sale would be enough to get a new title if I had to? This assuming the worst that I take the car and he blows the cash and never pays off the loan or gets the title? I'd like to think they would accept the bill of sale and issue me a new title in my state if something shady like that happened and I could prove it. As long as i'm covered mostly in the worst case scenario I'm cool with doing it that way. Thanks again for all the help! I just want the damn car LOL
DO NOT put fictitious tags on the vehicle you're transporting. While most cops will let you off, you're much better driving without a plate and having a bill of sale, then you are getting pulled over with a fictitious plate. A license plate registered to a 2003 Corolla will not look good when you're in a '99 Trans Am. Typically the fines for fictitious plates are more expensive than the fine for no registration. If you take care of the transit tag listed above, you'll be covered and not need to worry about this section.
Lastly I don't like the situation with an out of state bank. If he were to sell you the car without giving you the title, and he did not pay off the loan, the company with a lien against the current title could still have the vehicle repossessed. The courts would see the bill of sale as proof, but it would need to be brought up in a civil suit. Your newly purchased car could be repossessed and you would need to pursue the seller legally which could take a long time. If you have a garage and don't mind it sitting for a little while, I'd suggest buying the car and parking it in the garage until you receive the old title in the mail. The DMV will not issue you a new title without the old title properly signed over.
Good luck.
Sent them a bank certified tracable check for only the payoff of the car. Once the car was paid off and the title was returned to me, I sent him the rest of the money. In my case it was a 50/50 split and to lose half the money instead of all of it was a risk I was willing to take for the deal that I was getting.
You could try something like that.



