Sold car with lien-holder (911)

If you've been driving this car for the last 2-3 years after having stopped making payments, it should be on your credit report. Get your free annual credit report from one of the three agencies. It should show the final amount owed and have info for whomever that is. At this point, it may be a collections agency. You could attempt to contact them for a settlement but no idea how that would end up working out re: the lein.

Glad you took the time to join and try to learn. Good place to start. What it boils down to is you didn't fullfill a debt and have recouped from those goods withoutattempting to

jmellow18 wrote: He was telling me that there are ways around the lien and that he would just go ahead and buy it.

the buyer had all the answers from the front end of the deal.

End-of-story

Pete240Z wrote:

jmellow18 wrote: He was telling me that there are ways around the lien and that he would just go ahead and buy it.

the buyer had all the answers from the front end of the deal. End-of-story

• Try arguing a verbal contract in Court.
• Even if the buyer knows, you are committing fraud due to the fact that you are not actually the owner of the vehicle.

N Sperlo wrote:

Pete240Z wrote:

jmellow18 wrote: He was telling me that there are ways around the lien and that he would just go ahead and buy it.

the buyer had all the answers from the front end of the deal. End-of-story

* Try arguing a verbal contract in Court. * Even if the buyer knows, you are committing fraud due to the fact that you are not actually the owner of the vehicle.

Yes, the simple fact is, that he is in deep doo and needs to start digging.

jmellow18 wrote: In reply to N Sperlo: I was thinking the same thing. Argu of a verbal contract, although it would have been better if I had it written when he agreed to purchase with the lien still valid.

You need to be digging out of this problem, not deeper into it.

Dig up! Dig up!

N Sperlo wrote:

Pete240Z wrote:

jmellow18 wrote: He was telling me that there are ways around the lien and that he would just go ahead and buy it.

the buyer had all the answers from the front end of the deal. End-of-story

* Try arguing a verbal contract in Court. * Even if the buyer knows, you are committing fraud due to the fact that you are not actually the owner of the vehicle.

not sure its still considered fraud, since he did not deceive the buyer into thinking there was no lien. still, at best, since the seller does not have clear title to the real property, he cannot legally transfer title to the seller.

alternately, maybe the buyer ASSumed that he would take the money and pay off the lien so that it could be titled to him.

i have to ask, what did the 2500 get spent on?

Another thought here: what if the lien holder has gone out of business?

I was being sarcastic with my "ask the buyer" comment. Sorry to throw an unrealistic answer back.

The lien holder is not going to release the lien until you cross his palm with $3,000. To think is less is downright stupid. You took $2,500 ($500 less than pay off) and walked. No effort to pay off the note.

The buyer isn't too bright either.

Soon to be listed on Craigslist: For Sale, No Title.
What kind of car should we be looking for?

Well, I think maybe you've been beaten on hard enough in the forum so far. Dumb and dumber, and between you and the buyer, not sure who wins first prize. :-) Can't say I haven't been there myself, or done other equally brilliant things.

You've got two choices really. And they both involve you borrowing money from somewhere.

Choice one is to go get the lien cleared. Pay off the holder, get their release, and clear the title to the car. Since the lien holder no longer exists, this can effectively be impossible.

Choice two is to pay the buyer back, and take the car back. This is probably the best choice.

Were it me, I would take choice two, and get the car back. Then I'd be going around trying to pay the lien off so I could get the title clear. Maybe you can ultimately go through the courts and get it wiped out, but that's a long slow process. Waste your time on this one without an irate buyer hanging over your head.

In reply to Strizzo:

I'm speaking of defrauding the lein holder, not the buyer. It would still be considered fraud in that sense.

Good old mom.

Thats all we can ask. Good job.

John you are on the right track. I would call the lien holder and just ask for the release, if the debt is old they may just say the hell with it and write the loss off (Yes this has worked). But it sounds like you will be buying the car back.

Good luck. Paul B

You may luck out, but you still need to contact the lien holder.

Most importantly, WHAT is the car ? And where (roughly) is it... what is it honestly worth free and clear ?

I would try to contact a lien company and see if they could help, I have seen success having leins released when they are faced with some heavy "storage" fees on cars that were "abandoned-towed"

and if it doesnt work, at least it lets you know who wants money and how much.....the lot probably sold the lein to a low level finance company as junk for a few hundred bucks (common w the buy here pay here lots, especially when they are strapped for cash/closing/bankrupt) now you need to find them- and get really good at negotiating quick-thats what they do for a living-be ready to fight (remember, they dont want the car, they just want $) and if the car is "junk" and you just want it released so the scrap guy will haul it away....

good luck

and go wash your moms car, cook her breakfast, whatever you can do to kiss her ass-the above ideas are "attempt at own risk no warranty"

Good on you for trying to do the right thing after you found out you screwed the pooch.

Guys, I do not think the OP was out to bend anyone over and the buyer was aware of the lien, he is also at fault. Give the guy a break.

Paul B

Glad it worked out so far, but dont count your $ till its signed off.

We're not afraid of telling someone what a dumass they are but at the same time you will get credit when credit is due.

I hope this actually does work out for you.

Oh and welcome to the zoo.

bluej wrote: let me get this straight.. you owed $3k on the car, sold it for $2.5k and spent the money immediately. you did not have full rights to the car when you sold it. either a) you spent the $2.5k plus some more to pay off the lein and can just contact them to release it, or b) you spent the $2.5k elsewhere in which case you're in deep kimchee. trying not to jump to conclusions here but you're coming off as shady and dishonest.

In the real estate business they call that a short sale. Now the leinholder can get a government bailout and still go after you for the money.

Remember, we've all done equally brilliant things.

And don't count your chickens before they hatch. This problem isn't solved until the buyer has a clear title. All you have now is hope.

Snowdoggie wrote: In the real estate business they call that a short sale. Now the leinholder can get a government bailout and still go after you for the money.

this is more likely here.....I would be amazed if you never recieve a summons from the lein holder in the future.