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Buying Second Hand Check For Outstanding Finance


cowslip

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if dealer has reg book in his name and vehicle in posession, you are safe

if it is financed it is either by finance being registered owner or sit on vehicle, or both

you pay when DLT (Department of Land Transportation) has accepted all docs and inspected vehicles identity, and appoved you to become new registered owner

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if dealer has reg book in his name and vehicle in posession, you are safe

if it is financed it is either by finance being registered owner or sit on vehicle, or both

you pay when DLT (Department of Land Transportation) has accepted all docs and inspected vehicles identity, and appoved you to become new registered owner

THanks,

I think I'm with you.

but could you re-process your punctuation a bit as it is not 100% clear you are saying.

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if dealer has reg book in his name and vehicle in posession, you are safe

if it is financed it is either by finance being registered owner or sit on vehicle, or both

you pay when DLT (Department of Land Transportation) has accepted all docs and inspected vehicles identity, and appoved you to become new registered owner

THanks,

I think I'm with you.

but could you re-process your punctuation a bit as it is not 100% clear you are saying.

He's just saying that you're fine as long as the seller has the vehicle and book, cross referenced with their ID card. DLT will validate ID of seller and the vehicle in question.

If the car has outstanding finance, the bank/finance company will keep the book until the balance is cleared. Same if money has been borrowed against the car, like Car4Cash or whatever - the company will keep the book as collateral.

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if dealer has reg book in his name and vehicle in posession, you are safe

if it is financed it is either by finance being registered owner or sit on vehicle, or both

you pay when DLT (Department of Land Transportation) has accepted all docs and inspected vehicles identity, and appoved you to become new registered owner

THanks,

I think I'm with you.

but could you re-process your punctuation a bit as it is not 100% clear you are saying.

He's just saying that you're fine as long as the seller has the vehicle and book, cross referenced with their ID card. DLT will validate ID of seller and the vehicle in question.

If the car has outstanding finance, the bank/finance company will keep the book until the balance is cleared. Same if money has been borrowed against the car, like Car4Cash or whatever - the company will keep the book as collateral.

actually there are several ways you can hold the book and still be financed, so book reg in sellers name, not finance name, is required

and as said, when DLT accepts transfer to you, you are safe and can pay

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