Feb
I was the winning bidder for a 2001 ford explorer.I have paid $1000 deposit by paypal and am suppossed to be picking up the car this weekend.The seller seems pretty honest but when I ordered a vehicle history report it shows twice there was a lien on the car and that is also the last action on the report.This is my 1st car and I am worried if that means I cannot register it .Should I buy the car or would I be putting my name on someone elses debt.Thank you Guys!?!Any help is appreciated.
Answer:
You CAN register a vehicle that has a lien on it. I would make sure that the liens have been paid off because if they haven't, the lien holder can repossess the vehicle from YOU, even though you weren't originally responsibe for the lien.
The liens will still show up on the title if they haven't been paid when the vehicle is titled/registered to you. In essence, you are claiming responsibility for the liens.
If the liens are satisfied, here's a link that tells you how to get a lien release. It costs to get the release, but it would be worth it if you were ever going to sell it. http://www.fdic.gov/consumers/consumer/i…
Answer:
Look close. You will notice that liens are reported…not payoffs. If you are unsure though, have the seller send you a copy of the title so you can see if there has been a lien release. Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | Facebook | Technorati | Google | StumbleUpon | Window Live | Tailrank | Furl | Netscape | Yahoo | BlinkList