OK,
I am going to be trading up on a car and will have to give my car + cash. I know what his payoff is and the difference in his payoff( there is a lein on his car and he does not have the title, the bank does) and what he is asking on top of my car.
What is my best, safest way to do this?
Do I:
Bring a cashier's check for payoff made out to his lender and bring the rest in cash? Bring all cash and hope he immediately pays it off next day(monday)?
I will be keeping my title until I receive his but how can I have a level of comfort that I will be pretty covered in this transaction.
Also, I have to drive this car back home 200 miles without the title or tags. What do I tell or show the police if I am pulled over, since I wont have the title? I want to be able to prove that I didnt steal it, but truly bought it. How do I do that without title?
Please help me out.
Thanks
I am going to be trading up on a car and will have to give my car + cash. I know what his payoff is and the difference in his payoff( there is a lein on his car and he does not have the title, the bank does) and what he is asking on top of my car.
What is my best, safest way to do this?
Do I:
Bring a cashier's check for payoff made out to his lender and bring the rest in cash? Bring all cash and hope he immediately pays it off next day(monday)?
I will be keeping my title until I receive his but how can I have a level of comfort that I will be pretty covered in this transaction.
Also, I have to drive this car back home 200 miles without the title or tags. What do I tell or show the police if I am pulled over, since I wont have the title? I want to be able to prove that I didnt steal it, but truly bought it. How do I do that without title?
Please help me out.
Thanks