question: buying car with title at credit union
04-22-2010, 07:57 AM
#11
Former Moderator
Originally Posted by s2khac,Apr 22 2010, 03:00 AM
sorry bro, i didn't read it through before replied... so if I pay in full in cash or cashier check, would this be to the seller's credit union or directly to the seller?
Just have him call his credit union to let them know he's selling his car so they can have everything ready before you two go. They will take care of what goes where and who gets what.
04-22-2010, 09:01 AM
#13
I've done this a few times.
Have the check made out to the seller's credit union. Anything in excess of what is owed on the lien will go into the seller's checking/savings account. Anything short, the seller will have to cover the difference out of their pocket before the CU will release the lien.
Easiest way is to go with the seller to their credit union and hand the check to the loan dept and have them do the paperwork on the spot. If the seller owes more than what he's selling for, he'll have to come up with the $ on the spot. Otherwise, if you're paying more than what he owes, they'll do all the paperwork right there.
You'll have to fill out some DMV forms (Go on the DMV website to figure out which ones you need) and then submit to the DMV. Once DMV gets notice from the CU that they're releasing the lien, DMV will mail the title to you. Takes about 2weeks or so for the title to get to you, but given all the furlough days, it might be closer to a month.
Have the check made out to the seller's credit union. Anything in excess of what is owed on the lien will go into the seller's checking/savings account. Anything short, the seller will have to cover the difference out of their pocket before the CU will release the lien.
Easiest way is to go with the seller to their credit union and hand the check to the loan dept and have them do the paperwork on the spot. If the seller owes more than what he's selling for, he'll have to come up with the $ on the spot. Otherwise, if you're paying more than what he owes, they'll do all the paperwork right there.
You'll have to fill out some DMV forms (Go on the DMV website to figure out which ones you need) and then submit to the DMV. Once DMV gets notice from the CU that they're releasing the lien, DMV will mail the title to you. Takes about 2weeks or so for the title to get to you, but given all the furlough days, it might be closer to a month.
04-22-2010, 09:52 AM
#15
Former Moderator
Originally Posted by rob-2,Apr 22 2010, 10:48 AM
Goto the CU together, and deal with the fiance manager. You'll pay in full, and they give you the title.
04-22-2010, 04:02 PM
#20
Originally Posted by s2khac,Apr 22 2010, 02:56 AM
and yesssss it's about time Cheng... I might want to take a closer look at your front lip as that's what i have in mind if i pick this baby up
