I am planing to purchase a used 2007 honda accord ex v4, only has 13000 miles, the car is definitely in nice condition, my mechanic checked it out already and gave me a green light. The price is $14500, I think it is best deal around.
Now the question comes from how to make transaction.
The car owner is under loan with HSBC bank, he owes $18000 still, he agrees to sell me the car at $14500. He said he will get my money and add up his to pay off the loan first, then the bank will send him the title in 10 days, by then, he will meet with me at DMV to make title transfer.
I definitely don't feel comfortable with this, I suggest him:
1. Try to borrow some money from his relatives (he is a Filipino), buy back the car, then make deal with me.
he rejected the idea, said he tried, however he just couldn;t get that much money.
2. Try to talk to the bank make a loan transfer, or we both bring the money to the bank, at bank, I should be entitled the car title, in 10 days, bank send me the title directly without go through him.
He said he talked to bank, however, bank rejected the idea, because the loan is under his name.
This is what the seller suggested:
I give him the money, he will pay off the loan, and after bank send him the title, he will transfer it to me at DMV. He even suggested me to draft a written agreement, get it notarized, so say he will do what he should do.
My concerns are:
What should I do? Is he playing some sorts of games here? If I insist to take the car with me when I give him the money and let him sign the agreement. May I take his car and drive away legally? I am in ca.
does any one have the similar experiences before, please do share and inform.
thank you all in advance!
Now the question comes from how to make transaction.
The car owner is under loan with HSBC bank, he owes $18000 still, he agrees to sell me the car at $14500. He said he will get my money and add up his to pay off the loan first, then the bank will send him the title in 10 days, by then, he will meet with me at DMV to make title transfer.
I definitely don't feel comfortable with this, I suggest him:
1. Try to borrow some money from his relatives (he is a Filipino), buy back the car, then make deal with me.
he rejected the idea, said he tried, however he just couldn;t get that much money.
2. Try to talk to the bank make a loan transfer, or we both bring the money to the bank, at bank, I should be entitled the car title, in 10 days, bank send me the title directly without go through him.
He said he talked to bank, however, bank rejected the idea, because the loan is under his name.
This is what the seller suggested:
I give him the money, he will pay off the loan, and after bank send him the title, he will transfer it to me at DMV. He even suggested me to draft a written agreement, get it notarized, so say he will do what he should do.
My concerns are:
What should I do? Is he playing some sorts of games here? If I insist to take the car with me when I give him the money and let him sign the agreement. May I take his car and drive away legally? I am in ca.
does any one have the similar experiences before, please do share and inform.
thank you all in advance!
選擇“Disable on www.wenxuecity.com”
選擇“don't run on pages on this domain”
