I am buying a used car which has a lien on it and the buyer told me upfront that he financed the car (2 years old) and he's still making payments.
When I checked carfax I see 2 Liens reported about a 1.5 year apart. Does that mean that aside from the loan which he owes during financing, there is also something else that has a lien against his car?
Event date Location Odometer reading Data Source Details
01/23/2006 CA
Independent Source VEHICLE MANUFACTURED AND SHIPPED TO DEALER
03/31/2006 CA
30
Motor Vehicle Dept. ODOMETER READING FROM DMV
04/26/2006 SAN JOSE, CA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
04/28/2006 SAN JOSE, CA
Motor Vehicle Dept. TITLE(Lien Reported)
06/19/2007 SAN JOSE, CA
Motor Vehicle Dept. TITLE
REGISTRATION EVENT/RENEWAL
08/19/2008 SAN JOSE, CA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
08/21/2008 SAN JOSE, CA
Motor Vehicle Dept. TITLE(Lien Reported)
One more additional question, how does this typically work if I want to buy it from him. He told me I have to stop by his credit union and they will notarize "something" when I make the payment but it needs a day to clear the lien. Does that mean that once I make the payment to the credit union, they will turn over the title then and there or do they do some type of a promise to turn this over when the lien is lifted?
When I checked carfax I see 2 Liens reported about a 1.5 year apart. Does that mean that aside from the loan which he owes during financing, there is also something else that has a lien against his car?
Event date Location Odometer reading Data Source Details
01/23/2006 CA
Independent Source VEHICLE MANUFACTURED AND SHIPPED TO DEALER
03/31/2006 CA
30
Motor Vehicle Dept. ODOMETER READING FROM DMV
04/26/2006 SAN JOSE, CA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
04/28/2006 SAN JOSE, CA
Motor Vehicle Dept. TITLE(Lien Reported)
06/19/2007 SAN JOSE, CA
Motor Vehicle Dept. TITLE
REGISTRATION EVENT/RENEWAL
08/19/2008 SAN JOSE, CA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
08/21/2008 SAN JOSE, CA
Motor Vehicle Dept. TITLE(Lien Reported)
One more additional question, how does this typically work if I want to buy it from him. He told me I have to stop by his credit union and they will notarize "something" when I make the payment but it needs a day to clear the lien. Does that mean that once I make the payment to the credit union, they will turn over the title then and there or do they do some type of a promise to turn this over when the lien is lifted?