Basically i found a used evox for a good price and want to buy it but unfortunately the current owner hasn't paid the car off and still owes payments.

He tried explaining a contract/notarize thing to me but I had no clue what he was saying.

"The car is not paid off, but we'll setup a contract and notarize it.
Many people have done it this way."

^ What does that mean?!?!?


My friend said that he legally doesn't have the right to sell the car because it's not paid off and the bank holds the pink slip... Is that true?

 

yep look at my thread, explains most of it

https://my350z.com/forum/buying-leas...-payments.html

 

#1: Do not buy Evo X. :P

#2: Technically you need to write a contract stating he sold the car to you, he is going to pay it off, then give you the pink slip. You can also print out a bill of sale form from the DMV website, but keep that between the two of you only so that you can put a lower price on the pink slip (Seriously, who in their right mind would say they actually paid $20k+ for a car when they can put $1k? :P) This is how I bought my Evo VIII.

 

call me dongseng if you didnt figure it out my dad is good at this technical stuff

 

Not too hard. Technically you are paying his bank not him. How much does he owe? And how much is he selling it to you for? Make sure he isn't trying to screw you. And if you are getting a loan that bank will usually take care of it.