Quote:
Originally Posted by AwDang
The lender will not release the title without complete satisfaction of the note. Period, end of story.
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Where are you seeing a counter-argument to this? Of course the loan needs to be paid off before the lien is released.
Quote:
Originally Posted by AwDang
Performing the transaction at the sellers bank gaurantees the title is clear, the transaction is “safe” from robery, counterfit bills, forged cashier checks.
You mentioned across state lines and far away transactions. That really doesn’t play a role in this. The banks (acting as your agent) know how to make it work. I bought my last bike in Seattle via pics on the dealers site. Talked to my CU, they got a buyers order, built the loan and sent me with a check to pay for it.
The process really is safer and easier than people make it out to be.
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Buying from a dealer who can facilitate it with your bank is a different situation - better understanding of the process on all sides going in. Educating the seller on what they need to do to make this work is the main issue that all other issues sprout from.