Quote:
Originally Posted by XRAVE
When you say free and clear, you mean that they have paid off the bank and have title in hand?
I've never purchased a used car so this process is new to me. Assuming the car will be purchased out of state, I'm not even really sure what tag to put on the car or what paperwork I would get from the seller that proves I purchased the car.
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Correct. I like to deal with a seller who can show me a physical piece of paper title that has no bank ownership. It just means the transaction is complete once you hand over the money. Otherwise, you can be tied up for weeks waiting for pay off and getting a hold of your title. Others may not be so cautious about this, but I have had some horror stories of my own with titles and wont be dealing with a title that has a bank owner on it again unless we do the deal at the bank and I can see the loan pay off happen.