New LS1 Owners - Newbie Tech Basic Technical Questions & Advice
Sponsored by:
Sponsored by:

Help with buying CETA *Lein?

Thread Tools
 
Search this Thread
 
Old May 8, 2010 | 05:57 PM
  #1  
WicketMike's Avatar
Thread Starter
TECH Fanatic
iTrader: (13)
 
Joined: Apr 2002
Posts: 1,220
Likes: 0
From: Killa Cali
Thumbs up Help with buying CETA *Lein?

Hi,

Im looking at this 2002 CETA vin # 2G2FV22G822136626

It shows that it might have a lein against it according to Auto Check.
It says that there is a loan/lein record.

Is there anyway to make sure that it doesnt?

What happens if i buy it and it does have a lein?

thanks!
Reply
Old May 8, 2010 | 05:59 PM
  #2  
bww3588's Avatar
12 Second Club
20 Year Member
iTrader: (49)
 
Joined: Sep 2005
Posts: 8,139
Likes: 10
From: Chillicothe/Lima, Ohio
Default

chances are the owner has a loan on it, basically you give him cash, he pays it off and gets the title and gives it to you. or if you get a loan for it, your bank gives his bank the funds and the title reverts to your bank untill you pay it off.
Reply
Old May 9, 2010 | 11:51 PM
  #3  
sxracerb25's Avatar
10 Second Club
iTrader: (6)
 
Joined: Dec 2009
Posts: 273
Likes: 0
From: Tecumseh, MI
Default

Originally Posted by bww3588
chances are the owner has a loan on it, basically you give him cash, he pays it off and gets the title and gives it to you. or if you get a loan for it, your bank gives his bank the funds and the title reverts to your bank untill you pay it off.
+1. I just bought mine with a lien. I only had one issue with mine. It took forever for him to get the title from the state. I think it's just because my bank had to pay his bank off then they had to do all their processing and such before they would release the title to him. It took about 45 days so I had my 30 day tag but it expired and still took about another 2 weeks to get a good tag, but other than that I had no problem at all.
Reply
Old May 10, 2010 | 09:36 PM
  #4  
CamaroSS27's Avatar
TECH Fanatic
15 Year Member
iTrader: (6)
 
Joined: Jan 2009
Posts: 1,474
Likes: 1
From: Denton, TX
Default

I sold my car with a lein not to long ago, safest way is to goto the bank that has the lien on the car you pay them and they will release the title directly to you. Do not pay him and expect him to pay them.
Reply
Old May 11, 2010 | 10:06 PM
  #5  
WicketMike's Avatar
Thread Starter
TECH Fanatic
iTrader: (13)
 
Joined: Apr 2002
Posts: 1,220
Likes: 0
From: Killa Cali
Default

my problem is that a dealer is selling it.

do you think they have a paper you sign that says they dont have any liens or loans against it?
Reply
Old May 11, 2010 | 10:48 PM
  #6  
bww3588's Avatar
12 Second Club
20 Year Member
iTrader: (49)
 
Joined: Sep 2005
Posts: 8,139
Likes: 10
From: Chillicothe/Lima, Ohio
Default

if a dealer is selling it, it shouldnt have a lein. when the dealer takes a trade with a lein, they will pay it off, then sell it for what they have in it.
Reply
Old May 11, 2010 | 11:03 PM
  #7  
justin455's Avatar
Douchebag On The Tree
 
Joined: Nov 2009
Posts: 1,268
Likes: 4
From: Indianapolis, IN
Default

Originally Posted by sxracerb25
+1. I just bought mine with a lien. I only had one issue with mine. It took forever for him to get the title from the state. I think it's just because my bank had to pay his bank off then they had to do all their processing and such before they would release the title to him. It took about 45 days so I had my 30 day tag but it expired and still took about another 2 weeks to get a good tag, but other than that I had no problem at all.
I think it varies state to state, but I just transferred leinholders on my DD and they old leinholder only had 14 days to get the stuff done and sent to me so I could in turn send it to me new leinholder.
Reply




All times are GMT -5. The time now is 10:31 PM.