Im trying to purchase a 2006 350z the guy im buying the 350z from still owes 19 or something on it, I will be paying him in cash, how do I go about doing this so I can cover my ***? He and I have an agreement to where he will not sell the car, ie I have a deposit on it.

 

Don't you dare give him straight cash man!! Good God. Pay the bank or who ever has the title. You give him $19k or whatever, the next thing you know, dude AND your car in Vegas gettin' cozy with strippers.... On second thought.. Want to buy a car for $18k?

 

Contact his lender & find out how to pay them off...get release at time you hand over check.

 

Ditto. You'll probably make the check to them for whatever he owes, then another to him for the difference.

 

when paying off the bank it is best to pay cash if possible. if you pay for it with check they will hold the title until the check clears which can take up to 15 days.

 

I can pay in straight cash, or check. I guess ill give him a call to get him to contact the bank so they can release the title or whatever to me, so I can pay the bank as well as him. I guess I could make 1 check, pay the bank in cash and pay him with a check.

 

A smart thing to do would be go to your bank and get a loan through them to buy the car. They will do all the leg work, get all the proper paperwork done, then as soon as everything has transferred, just pay off the loan at the bank. Make sure there is no prepayment penalty, then not only do you play it safe, but you save yourself a lot of time in doing the paperwork.

You can pay him the excess in cash after title has transferred.

How much are you paying for the car if you don't mind me asking?

 

22k its a tad above kbb, but it has a few things I wanted done to it, and I havnt been able to find another one. So im more or less ok with it.

 

Don't do it. Do not give him cash. Do not buy a used '06, shop around for a used or even new '07. If you are paying $22k, you can find a good one. With a little bit more, you may be able to do a left over new '07.

 

I dont want an 07.

 

SMART move for asking before you gave him cash. For anything that has a high value like that you need proof of payment. Wow cash cant believe what you were about to do .

 

..........ahhh strippers

 

Mackie if you give this guy cash I'm going to drive over to your house and smack you upside your head. Pay the lean holder directly man.

 

Do it anywayz , and post pictures of it so we can see................................: ................................. ...................j/k

 

ok before everyone decides to whine, my intentions where not to just hand him cash, my father is a lawyer and would of drafted something, now the current owner of the 350 and I are going to his bank. With 2 payments 1 for the bank and 1 for him. The title according to the bank will be mailed to my house which made no sense to me, but Ill ask the bank directly about that.