Quote:
Originally Posted by sixto
It gets a little tricky with paperless titles. The buyer has to have faith that the system will provide a title for the money he/she's paid. And how does he/she register the car until a title is available? If you take the plates, he/she might not even be able to get the car home. Personally, I wouldn't buy a car from a private party unless an official title document is immediately available when I fork over my money. I'm never really sure a hardcopy title is legit until the DMV accepts it to transfer ownership.
Sixto
93 300SD 3.0
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I've seen this happen quite a few times with dealers. They take on a vehicle that has a lien and, obviously, they don't pay it off right away. When they sell it to you, they want the cash up front, but cannot produce a title for a couple of weeks. They must pay off the loan and wait for the bank to send them the title.
The entire business is unseemly. There is nothing that forces the dealer to payoff that loan. He walks away with the cash.......the original borrower is stuck with the loan.........and YOU are stuck with a vehicle that you can't title.