Buying a used car that is under finance

[pj123]

I am looking at a used car that the owner has under finance. My understanding is that they would use my money to pay off the finance contract in order to get the Blue Book to transfer ownership. Has anyone gone through this process?

[Will B Good]

Commenting out of total ignorance........I would run a mile.....

[brianthainess]

Who has the Blue book? if it is a bank then you could go to the bank together. 

[worgeordie]

Do you know the person , and trust them 100 % , as it could all go wrong,

they are so many 2nd hand cars around without problems in buying ....

 

regards Worgeordie

[jvs]

3 minutes ago, brianthainess said:

Who has the Blue book? if it is a bank then you could go to the bank together. 

Yes this.

Go to the financier together and find out how far the payments are behind.

Talk to the financier,that is who owns the vehicle.

Normally you can pay for the car,receive the book and get it in your name.

If you do not know the person,be very careful.

 

[SAFETY FIRST]

19 minutes ago, pj123 said:

 My understanding is that they would use my money to pay off the finance 

You can pay off his finance with your money but why would you do that? 

 

You need to go to the DLT, they will transfer ownership, once the car blue book is in your name then hand over the money, take keys and drive away. 

 

Don't forget to say goodbye. 👋

 

[pj123]

Brianthainess is correct. The finance company has the Blue book.