About to buy a 2008 Yaris from private owner

[iwantayarisnyc]

it's a 2008, with 10k miles only , hatchback. Base model auto

We settle to a price of 10000

the question is i'm worried about the title. she says it's a clean title and it's paid off. she said she bought it in april, but NOT in full. She took out a 10,000 dollar loan on it(down payment unknown, don't know her full price plus taxes)

But she said she eventually just paid it off in full. How to prove this?

I am just worried that she can hand me a fake title(saying there is no lien on it)

Is this possible? Any precautions? Just worried I will be taking on the remaining loan.

Thanks so much!

[rningonfumes]

Pull out a carfax for 20 bucks.

Ask to see her Registration. If she's not a full owner yet, it will say who she financed it from.

Lastly, if you really aren't sure, request that she go to the DMV with you and do all of it there.

[TinyGiant]

Originally Posted by rningonfumes

Pull out a carfax for 20 bucks.

Ask to see her Registration. If she's not a full owner yet, it will say who she financed it from.

Lastly, if you really aren't sure, request that she go to the DMV with you and do all of it there.

+1

also get a policemen uniform and wear it when you go to buy it .. lol

[iwantayarisnyc]

Originally Posted by rningonfumes

Pull out a carfax for 20 bucks.

Ask to see her Registration. If she's not a full owner yet, it will say who she financed it from.

Lastly, if you really aren't sure, request that she go to the DMV with you and do all of it there.

thanks for the tip about the carfax. I had done carfax already but your idea gave me an idea. The carfax actually had the title number issued for the Yaris. So I used the title number(or VIN) and searched the state's DMV record (title/lien inquiry)

Here's what came out:

Vin#XXXXXXXXXXXXXXXXX
Title#XXXXXXXX

Title Type: Clear
Title Issue Date: 5/12/2008
Title Mailed To: Owner
Electronic Title: No

That's all i had..........I WISHED they would add

Lien Status: No Liens

what do you guys think.........does that "CLEAR" next to Title Type indicate it's free of any liens???

Thanks!

[rningonfumes]

Seems so?

Call your DMV and ask them what it means.

[iwantayarisnyc]

Originally Posted by rningonfumes

Seems so?

Call your DMV and ask them what it means.

yup it's late in nyc, but i'm still up doing work lol. Well, anyway, according to the DMV website, if the title had a lien on it - it would have shown.

So..........i guess i should be good.

Would this car be a good deal? darn taxes are 800 though.....(if i put it as 10,000 that is........h..eh)

[Forrest]

Originally Posted by iwantayarisnyc

it's a 2008, with 10k miles only , hatchback. Base model auto

We settle to a price of 10000

the question is i'm worried about the title. she says it's a clean title and it's paid off. she said she bought it in april, but NOT in full. She took out a 10,000 dollar loan on it(down payment unknown, don't know her full price plus taxes)

But she said she eventually just paid it off in full. How to prove this?

I am just worried that she can hand me a fake title(saying there is no lien on it)

Is this possible? Any precautions? Just worried I will be taking on the remaining loan.

Thanks so much!

If the leinholder on the title was paid off, the finance co or bank issues a DMV form which is signed by the finance co and states the lein was paid off. Ask for a copy of the title and the paid off DMV form and go to Motor Vehicles to verify this was paid off before you buy. They can verify if leinholder has been satisfied. If not then do not buy as you would be stuck with a car that can be repo if loan not paid.

[iwantayarisnyc]

Originally Posted by Forrest

If the leinholder on the title was paid off, the finance co or bank issues a DMV form which is signed by the finance co and states the lein was paid off. Ask for a copy of the title and the paid off DMV form and go to Motor Vehicles to verify this was paid off before you buy. They can verify if leinholder has been satisfied. If not then do not buy as you would be stuck with a car that can be repo if loan not paid.

thanks, that sounds good. i'll make sure to get a copy.

[dg4rez]

I was under the assumption, that you cant get the title, till you paid it off, that the lein holder keeps the title till its paid off. On top of that, when she signs the title over, it has a part on it that has to be filled out, that says lein holder, if she write NONE, then shes obligated by law that there is no dept on the car. if she fills out, and says, "toyota of nevada or BOA or what ever" then the car does have dept that you have to be worried about.

When the title says "clear" it means that it hasn't been totalled, salvaged, stolen, or have a claim of altered/ unsure mileage. has nothing to do with leins etc

but yeah, if she has a real title, and she writes none under lein, then you will be fine. When I buy a car, I always make a copy of the person's ID that I am buying it off of. I also take a picture of the person (very clear picture too) and pics of the intire car.

make sure to setup insurance before you drive off with the car after you bought it. I know of 4 people that have bought cars, drove a block and wrecked it. and its acually a very common thing, cause you are happy, and looking at stuff around the car, and everything... so yeah, have your insurance before you drive off your first time with it.

Also, go get it VIN checked at the DMV, they will check everything for you etc.

and then after that, enjoy the yaris, and post pics often

[Bob_VT]

If there was ever a lien on the car's title it will state that. Thes seller MUST produce the paperwork to prove the title is clear.

Somone suggested DMV as the place to do it...... if you are friends with a car dealer you could probably have it looked over by the F&I department and done there.

SOmeone already ststed it but a clear title on CARFAX is that it has never been reported salvaged....... I will tell you do not trust CARFAX. In DMV we trust. Carfax tends to run 4-6 months behind. IF the car was evered totaled or suffered a loss it may not have been reported yet.

[Astroman]

In WA state, the registered owner can't get the title until the lien has been removed (car has been paid off). Dunno how it works in NY, but in WA I don't have the title for my car yet, until I pay it off.

[Forrest]

When a car is purchased in NY, the original title goes to the owner. ON that title, it list the lein holder, if there is one. If the lein has been satisfied, the person who's name is on the title receives a DMV form 'satisfaction of lein.' That form and the title go to Motor Vehicle to have a new title issued with lein holders name removed. If you are buying and the seller does not have the 'satisfaction of lein form' they need to provide it to you at time of sale so a new lein can be issued to new buyer with out lein holder listed.
ASK for copies of lein and satisfaction paperwork.
Go to DMV and verify lein is satisfied.
If all is good, seller will sign back of title over to you.

[otterhere]

A little off-topic, but what do you mean by "base model"; do you mean no power package, but still the convenience and all-weather packages? It was my lesson to learn that there IS no "base model"; only those w/o power. Mine is auto with C/AW, and that's as "base" as I was able to get one.