:::RHMT::: Real Home Made Turbo

Please login or register.

Login with username, password and session length
Advanced search  

News:

GET YOUR OFFICIAL REALHOMEMADETURBO.COM STICKERS! (link)

Pages: [1]   Go Down

Author Topic: One more question about car loan  (Read 2960 times)

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
One more question about car loan
« on: June 08, 2009, 08:40:26 PM »

**Update V2: No they won't. Has to be in title holders name which is gay as hell, not to mention my mom has since changed last names so wouldn't matter if she was here. Gay ass banks  :P

*Update: Well I had to fax over a copy of the title today for them for his loan application. Now here is my only question; The title of the car is in my moms name still, but I need the check in my name. I am not about to release a car to him unless I can cash the check then and have cash in my hand. My mom is away for 2-3 weeks, so just putting it in her name is out of the question. Will the bank put it in my name even though the title is in hers?



Well this may sound stupid, but I have never dealt with a bank loan for a car. I have always paid cash so I have no idea how this works. Here is the situation. I have my 99 Civic hatch posted for sale or trade. I found a buyer wanting to buy it, but he has to get a loan to pay for it. He has already talked to his bank about the loan, and they approved him for the amount I have it listed for.

Now here is where I am lost. I know since his bank is giving him the loan they will be the lien holder on the car. Now he lives 6 hours away. How does the title situation work for this? I don't think the bank would just give him the loan and say bring the title by here so we can fill it out, and I sure as hell am not driving that far to do it there.
« Last Edit: June 15, 2009, 12:19:49 PM by Doug »
Logged

ApexSilver06MR

  • RealHomeMadeTurbo's "pee wee"
  • Global Moderator
  • Certified OG
  • *****
  • Offline Offline
  • Posts: 9872
  • RealHomeMadeTurbo Resident Cocksmith!
Re: Stupid question about bank loan for car
« Reply #1 on: June 08, 2009, 08:42:19 PM »

the bank will give you the check...
Logged
pee wee for the size of my p..........

Nor*Cal Spoolin'#039#039 Nig Nog

Sinister

  • insane in the membrane
  • Certified OG
  • *****
  • Offline Offline
  • Posts: 21489
Re: Stupid question about bank loan for car
« Reply #2 on: June 08, 2009, 09:00:08 PM »

So you didnt trade for the 300zx either? holy shit mang
Logged
Join Date: 12-31-2003
Posts: 20174
3/5/09 - RIP HMT

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: Stupid question about bank loan for car
« Reply #3 on: June 08, 2009, 09:05:42 PM »

the bank will give you the check...

I know that, but my question is how does the title situation work. I'm sure they aren't going to cut him a check and tell him to just bring the title by so they can fill out their info on the lien holder portion. Get what I'm saying? There would be nothing to keep him from just not going to them and get the title in his name with no lien.

So you didnt trade for the 300zx either? holy shit mang

Na guy seemed shady and skimped out. Never heard from him again. Wasn't going to do it anyways. I trust the word of JD.

jeffsciv23

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 6787
Re: Stupid question about bank loan for car
« Reply #4 on: June 08, 2009, 09:13:07 PM »

they give him a check for the amount made out to you, you give him the title and its on him to bring it to his bank and then they do all that. you just sign off on the seller and release of interest in it, put the date and price.
Logged
Quote

The OP just called me a nigger in the for sale section do the mods allow this kind of thing to happen around here?

bigwig

  • Guest
Re: Stupid question about bank loan for car
« Reply #5 on: June 08, 2009, 09:30:23 PM »

https://www.penfed.org/

You owe me money now.
Logged

Whitey

  • the Few, the Proud, the Exiled
  • Global Moderator
  • Certified OG
  • *****
  • Offline Offline
  • Posts: 90765
  • ©
Re: Stupid question about bank loan for car
« Reply #6 on: June 08, 2009, 09:31:23 PM »

You don't need to worry about any of that stuff.  Just remember:

-If he pays in cash, sign the title over.
-If he pays with a bank check (made out to you) its as good as cash sign the title over.
- If he pays with a personal check tell him to go fuck himself.  Tell him to cash it himself and pay in cash.


If someone gives you a complicated story about how they are going to pay for something, tell them you don't care and say you only accept cash or a check from a bank.  Than you can never get screwed
Logged

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: Stupid question about bank loan for car
« Reply #7 on: June 08, 2009, 09:33:03 PM »

I see. So it pretty much is a trust thing, but if he breaks it the bank is going to break him. Also one more thing. On the title there was a guy last week that was going to buy it. I signed the title and dated it, but then his shady ass was trying to pay me $500 less. So told him to get loss. I just crossed through the date. If I write out another date beside it, it shouldn't be an issue should it? Or should I use white out?

Also found this surfing craigslist and thought it was funny. Hella shady

http://bham.craigslist.org/ctd/1208623307.html

ratcityrex

  • I Get Blown Daily
  • Global Moderator
  • Certified OG
  • *****
  • Offline Offline
  • Posts: 7374
Re: Stupid question about bank loan for car
« Reply #8 on: June 08, 2009, 09:35:53 PM »

Same kinda shit some dude was trying to pull with me. He wanted to write me a check for 8k for my old ford escape. He lived about 2 hours from me and was telling me Oh the moneys in the bank and the check is gona be good. I told him Great then I will meet you at the bank when they open and you can pull the money out and we will both be on our merry way. Needless to say dont fuck around with it. Just meet up with him at the bank and get cash, and sign that shit over.
Logged
New setup is old bottom end with a hype r head with gsr cams. built lsv with hx35 @ 26psi on pump gas
LEED tuned! 434hp/329tq http://www.youtube.com/watch?v=_pbDXZxZdZs
http://www.realhomemadeturbo.com/forum/index.php/topic,16195.0.html

Old Setup B18a1 296hp/289tq LEED Tuned 20psi on pump! http://www.youtube.com/watch?v=2Yj-Z90j4W4   
http://www.realhomemadeturbo.com/forum/index.php/topic,205.msg2437.html#msg2437

jeffsciv23

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 6787
Re: Stupid question about bank loan for car
« Reply #9 on: June 08, 2009, 09:44:06 PM »

yeah you should be fine with lineing it out and writing it next to it. white out on a title looks shady lol
Logged
Quote

The OP just called me a nigger in the for sale section do the mods allow this kind of thing to happen around here?

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: Stupid question about bank loan for car
« Reply #10 on: June 08, 2009, 09:47:01 PM »

Yeah was kinda worried about that. I guess I can write a note on the BOS also explaining why is was marked out.

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: Stupid question about bank loan for car
« Reply #11 on: June 08, 2009, 10:43:34 PM »

^ Yeah that's something else that worries me. If I tried to cash it at my bank it would take a damn week to clear.

bryantaylor

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 526
Re: Stupid question about bank loan for car
« Reply #12 on: June 09, 2009, 01:36:30 AM »

your making it more complicated than it needs to be.  he gets the car and title when you get CASH in your hand.  cash the check before you give him the car.  all that lein shit is on him.
Logged
90 miata - t3 and megasquirt
95 mark VIII
06 GSX-R 600
 i changed my sig as per Robb

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: Stupid question about bank loan for car
« Reply #13 on: June 09, 2009, 01:59:49 AM »

^ Yeah that's something else that worries me. If I tried to cash it at my bank it would take a damn week to clear.
did he say what bank it was?
i wouldn't cash it anywhere but at his bank

Yeah and there is one here. Next question; I found a car I want to buy, but the guy still owes money on it. He says he has already signed off on the title, so I just have to go to the bank and pay it off and they will mail me the title (said title is at main branch which is a good drive away). This doesn't sound right to me, if it was anyone could just go in and pay off the title loan and be like yeah I want the title.

Logan76

  • Full Member
  • ***
  • Offline Offline
  • Posts: 198
Re: Stupid question about bank loan for car
« Reply #14 on: June 09, 2009, 02:50:53 PM »

yeah and there is one here. Next question; I found a car I want to buy, but the guy still owes money on it. He says he has already signed off on the title, so I just have to go to the bank and pay it off and they will mail me the title (said title is at main branch which is a good drive away). This doesn't sound right to me, if it was anyone could just go in and pay off the title loan and be like yeah I want the title.

that shit sounds shady to me, I would call his bank and ask them what the proper process is.
Logged

jeffsciv23

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 6787
Re: Stupid question about bank loan for car
« Reply #15 on: June 09, 2009, 03:51:07 PM »

lmao, when i sold my last car that stupid nig that wanted to buy it drove 4 hours with a cashiers check from his bank for 10k made out to "Jeffsciv". when i seen that i said "ARE YOU FUCKING KIDDING ME?!?!". he totally thougfht that was my name, whata dip shit. anyways i called his bank and they said one line it and write my name next to it, everythign was good
Logged
Quote

The OP just called me a nigger in the for sale section do the mods allow this kind of thing to happen around here?

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: One more question about car loan
« Reply #16 on: June 15, 2009, 10:57:44 AM »

Update added

Doug

  • Certified OG
  • *****
  • Offline Offline
  • Posts: 8838
  • Get Doug'd biatch
Re: One more question about car loan
« Reply #17 on: June 15, 2009, 10:59:39 AM »

Oh yeah wake up bitches, he said he's going to do the loan now lol
Pages: [1]   Go Up