I'm wanting to import into Canada from the US and I believe I'm doing all the right things. I had the owner take it to a Honda dealership for an inspection and everything checked out. The car shows it had an accident in 2007, but it wasn't labelled salvage. The guy at Honda said it was really good shape, no signs of damage.

My dilemma is that he still owes the bank for the car. In order for the bank to release the title, it needs to be paid off. I've been talking with the owner for over a month, spoke with him on the phone, even had a friend go look at it for me. It all seems legit.

He asked if I would be comfortable sending the money so he could pay off the car and get the title switched to his name, and then to mine, then send the bill of sale. This would be great for me as I could do all the necessary documentation for customs and RIV. Something in me still says this is really risky. I suggested sending a bank note in the banks name instead of to him. I'm not sure if this would protect me in anyway. He also mentioned he would get the notarized, I'm not sure how that would help me.

Anyone else have this situation or have any recommendations/solutions on how to make this transaction safe for both parties involved?

Thanks!

 

Make a bill of sale that states he owes on the car and that he will take the check u send him to pay off his car and request that the title be mailed to him and that he will sign it and mail it to you within "x" days of him recieving it. Or you can have the seller request the title to be sent to you, but then you would have to get his signature still. Whatever you feel more comfortable with. Make they check payable to the bank though, not the seller. Have the seller sign this bill of sale and send it to you before you send the check to him.

 

You definitely make the check to the bank that holds the title of the car. The bank will pay him the difference. So much easier than trusting him to get it all done. And the bank will transfer the title to your bank that is giving the loan.

 

Unless its imola orange, I don't see why you'd go through all that trouble to import

 

I would go to the sellers bank in person to do the transaction. That way you can leave with the car and notarized bill of sale in hand.

I also like the idea of writing the check to the bank and not the seller.

 

Buying a vehicle long-distance through a dealer is risky enough. I don't think I would do it with a private party, never when there was a lien to release, and absolutely not when the vehicle was from a private partty, with a lien, and had to be imported. Just too much risk.

 

You pay off the bank if you want the car.

I'm not sure why you aren't hoping on a flight down, going to the bank together, getting the title and driving it back?

If you love the car this is the safest way. Heck, he can even pick you up at the airport in your car!

 

I like rob-2's idea!

 

i'd rather pay 2-3k more and buy a car locally without the chance of being ripped off.

 

you want to mke he check out to the bank. if you go there in person to pay and pick it up, it's very lijely the bank won't be able to hand you the title right then--it's typically filed away somewhere and they mail it to you.

you said one thing in your first post about the seller wanting to pay the bank and then getting the titlat switched to his name---who's name is it in now? That person is the legal owner according to the state--the name on the title is the owner---is he or she in the picture?