Overhaulin'

How do I safely buy a car cash that has a 13000 dollar lien through a credit union?

Well im looking to buy a 350z from this guy for 13000 cash. He just told me he has a lein on it through a credit union for like 12000 and the way im planning to pay is cash ( I dont have a bank account at all I just have money in hand) so we live in texas and this is my first time buying a car like this. Do i just go with him to the bank and pay it off? What is the proper procedure for this type of transaction? Im doing the transaction but i want it to be under my dads name later on but hes not going to be able to come with me when i do the transaction. Whats the safest way to do all this and what advise can ya guys give me? Thank you

Public Comments

1. YES, go with him to the bank. Make sure the payoff amount is not more than the 13,000 you agreed to pay for the car. The bank will either give you the title right there or mail it to YOU since you paid it off. You can either title it in both you and your dad's names, or title it yourself now until you can sell it to your dad later.