"Straightsix9904" (Straightsix9904)
04/02/2014 at 17:12 • Filed to: None
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"Straightsix9904" (Straightsix9904)
04/02/2014 at 17:12 • Filed to: None | 0
| 14 |
I'm thinking about buying a car. Guy has been giving me a little grief but I mainly think it is because he is just lazy. He has a car and the title, and he says that the name on the title has signed the title. but it is not his name. He said he just didn't want to wait a month on the paperwork. is this a dumb idea to go through with this purchase. If i have a title that is signed by the title holder and my name filled in....how far will that get me legally?
crowmolly
> Straightsix9904
04/02/2014 at 17:13 |
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I bought a '69 Camaro this way. Some people are just lazy.
Audi-os, amigos
> Straightsix9904
04/02/2014 at 17:16 |
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Not far, I don't think, because you are certifying the transaction took place between the title holder and the buyer, and then both parties sign.
It fails that first test, because "John Q. Titleholder" (not the guy you're buying from) is not who is selling you the car.
I'm just spitballing though.
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Straightsix9904
> crowmolly
04/02/2014 at 17:16 |
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I'm guessing it worked out ok for you?
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Straightsix9904
> Audi-os, amigos
04/02/2014 at 17:18 |
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But the DMV sees that John Q TitleHolder signed, and that me, Straighsix Buyer, Bought. Does it really matter past that?
I'm just spitballing too? as far as I know, the DMV doesn't send out confirmation to JQT, to confirm he sold a car to Straightsix buyer.
Chris Clarke
> Straightsix9904
04/02/2014 at 17:24 |
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Some states require the signature to be notarized.
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crowmolly
> Straightsix9904
04/02/2014 at 17:27 |
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Legally? Yeah. The car? Fuck no. All bondo and fiberglass mat covering primer. LOL.
DailyTurismo
> Straightsix9904
04/02/2014 at 17:27 |
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Likely the person who is selling the car is a flipper. He purchased the car cheap and its quickly flipping it for a small (or large!) profit without getting his name on it or taxed. You will have no problems with the title transfer as long as tags are up-to-date and you just don't mention the owner in between you and the person on the title. Sometimes if the DMV knows about the middle owner you'll need to pay sales tax for each transaction — but I am in CA and that is how they do it here. I've purchased a few cars where the previous owner hadn't completed the registration because it wouldn't pass smog, in fact I once had a car that had TWO additional names on bills of sale between them and the legal title owner according to the DMV.
awe46m3zcp
> Straightsix9904
04/02/2014 at 17:27 |
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You'll be fine as long as the signor didn't date it over 12 months ago. Some flippers do this to avoid paying the sales tax. In Colorado he would of had to pay a 7% sales tax when getting the title transferred. Why would he if he plans to sell it within a few months.
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Straightsix9904
> DailyTurismo
04/02/2014 at 17:30 |
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Ok, the bill of sale, I know I should get one, should it be between me and the purchasing party, or should i ask for one from me and the legal titleholder and the purchasing party.
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DailyTurismo
> Straightsix9904
04/02/2014 at 17:47 |
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It will likely depend on your state, but I would get a Bill of sale between you and the current car's holder, and a copy of the bill of sale between the title holder and the current holder. That way you can trace ownership 100%.
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Straightsix9904
> DailyTurismo
04/02/2014 at 17:50 |
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Sweet, Thanks for your help. BTW, I'm a lurker on your website, Love it. The self-imposed $20K cap is what kind of gets me there. Also, love when you to the collections post. I think the last one was of 8-10 BMW 2002s.
Decay buys too many beaters
> Straightsix9904
04/02/2014 at 18:23 |
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In Oregon, I bought my bike like this. No problems.
hethoughtofcars
> Straightsix9904
04/02/2014 at 18:50 |
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Does he have any idea who the person on the title actually is? Is it a relative or a friend, or something he grabbed at an auction? Does he know any history of the car? It just seems sketch to me.
In any case, make sure it's a clear title before handing over any cash!
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DailyTurismo
> Straightsix9904
04/02/2014 at 18:55 |
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Glad to hear you enjoy it! Chime in the comments whenever you get a chance, even if it isn't the most valuable addition! Every additional person who puts something in the comments helps make the place seem more lively and less like a graveyard!
Another collections post you say...okay!