I'm trying to buy a car that the seller has financed and

Did you go to his bank yet?

>>2904240
No, we were going to go the bank when I cut the check, but are working out who to cut the check to.

Hi I would not do that at all. A seller who has financed their car is not a good sign.

>>2904325
Where do you live that most people do not finance new cars? Even though I don't do it, it's fairly normal for a family to go with financing in the US.

It's fine, just make it out to the bank for the payoff; get a bill of sale between the two of you before you give it to the bank

>>2904434
so I'm right in that the check should be written to the lienholder. I believe the bill of sale will be signed and notorized at the bank.

i bought a car like this. 18k cash, he had 4k left on the lien. we both went to his bank (large bank), sat down with a banker, had the banker call the lien company, and wired the while on the phone with both parties to ensure everything went down correctly. no problems at all.

as long as you take the necessary steps to confirm anything and make sure theres no funny business, you will be fine.

>>2904198
You write two checks, one to the bank and one to him. Meet him at the bank which holds the title because at the exact same time that bank needs to notarize the title in your name. If he doenst want to do that he can get fucked.

For fuck's sake, just get a cheap Civic and pay in cash! Cars are the absolute fucking worst investment you can ever throw your money into.

>>2904198
Go buy a Saab 9-5 instead, instead of pretend drifting

>Dejavu I just been in this place before

>>2904521
If I write a check to just the bank, won't they just give the surplus to him?
>>2904511
You wrote the check to the bank or just to the seller? The reason I want to write it to the bank is if I have any issues with getting the title (typical practice in my state is the lienholder mails it to the DMV before you get it)
>>2904692
I'm paying for this car in full, not financing it, and I can more than afford it. I have other investments that net me a high disposable income.

>>2904789
we went to the bank, i had cash sitting in my account. we got his lien holder on the phone (was some military federal one or something). i wired the remaining balance to the lien, once they confirmed we got the lien accounted for on the title. then i wired him the difference. did all of this with a banker. was actually really smooth, felt comfortable and not sketchy at all.

if he doesn't wanna do this, then stay away. lots of people mortgage their cars, or have liens on them, so it is pretty normal. just take the necessary steps and have trusted intermediaries to help facilitate the process.