Urgent! Need help with purchase in PA....

[hurricanejames]

Hey all...
Been checking out your great forum here for a while and finally made the decision to purchase one of these fine vehicles. My problem goes like this: I'm purchasing an '07 H3 from a private seller. The seller owes a balance to GMAC. Now, I would think this would be as simple as paying off GMAC and then transferring the clear title to me. No such luck, apparently. He and I both have attempted to find a way to do this, but GMAC says I have to pay off the vehicle, then it will take 5-10 days to process the title and get it back from Harrisburg. In the meantime, am I supposed to wait two weeks before I can take possession of the vehicle? That seems unacceptable to me, as I've never had such a hard time purchasing a car before. I guess my question is this: Does anyone here have any experience buying a vehicle from a private party that still owes money on it, and if so, how would I go about this in a fast and easy manner, assuming there is one? I sincerely appreciate any help you folks can provide...I've learned alot just by listening in, and hope one or more of you can enlighten me on this....Thanks a bunch, Jim

[phantom2]

Whoever you're buying that vehicle from will have to pay off that loan before they can get the title.I would plan on waiting a whole lot longer than 5-10 days to get a title after he pays the loan.Tell this guy to pay off the loan and give you a call when he gets the title.Stay clear of any deal where there is no clear title at hand.

[hurricanejames]

I appreciate your quick response...I too was looking for 'red flags' that would pop up and make me think twice about the deal. Honestly, all appears above board. As an aside, I did some digging, and for those of you who may be contemplating such a transaction, I found out this: At least in PA, what I believe I need to do is go to a Triple A (AAA). They are apparently tied in electronically with Harrisburg. They will will act as a middle man, so to speak, and accept the pay-off for the vehicle at which point they notify the state that the title is changing hands. I'm hoping this is the answer, and I'll keep you posted as to the outcome. Thanks P2 once again for taking the time, Jim

[6pack]

I sold my last truck (Ford Ranger) to a guy near Pittsburgh, I'm from Maryland. I still owed on the truck. We met at a title guy in a little PA town between us. The title guy did all the official paperwork and recorded the transaction. The buyer gave me his check and I gave him the truck. When I got back, I deposited his check and wrote the payoff to Ford. When I got the title a couple weeks later, I sent it to the title guy we met at and he finished the deal with the new owner. It probably took a month to get it all said and done. You might be different because it will depend on the state you live in, since that's where you will be titling it.

I don't see how you can get the title without the current owner first paying off his loan. When the loan gets paid, the title will be sent to the owner, which is him, not you because you can't own it until you have the title. And I wouldn't give him money without at least getting the truck. Be careful.

[hurricanejames]

Wise words...I'm confident enough that the other party is an honest individual. My own situation though, is dictated by the fact that I'm financing a portion of the purchase through my credit union. They're not cutting a check for anybody other than the holder of the title, in this case GMAC. If I could do something like that, rest assured I'd have the vehicle in my possession at the time of the transaction. Thanks for another take on things, much appreciated.

[fourfourto]

in NY the owner would have the title with a lein on it.
If it was a regular bank you could meet there and pay it off then get a lein release at that time from the bank.Give the title and release to DMV and your done.
Does GMAC have a location? does the guy have the title ?

Maybe a local dealer could do it for a small fee ?
Good luck

[Ryan Graham]

I would do it as legit as possible with as much paperwork as possible. Despite how "honest" someone seems, its rarely the case. I would have your credit union handle the transaction. I believe they will communicate with GMAC and pay them off so you can take delivery immediately and the owner will only get a check for whatever the difference between purchase price and amount owed is.

[hurricanejames]

Thanks guys for weighing in...Yes, GMAC holds the title. For the record, the present owner isn't asking for me to pay him directly for anything. I truly believe he's as perplexed as I am. R.G., I think that's a good idea; I'll ask my credit union their take on things--something I hadn't thought to do before. You would think they've run across this at some point. Either way, I'm getting this straightened out Monday one way or the other....I really dig this particular vehicle, but I hear there's some great deals to be had in the showroom these days, so we'll see. Thanks again, Jim

[fourfourto]

I beleve ? if he bought it he has the title so maybe hes on a lease ?

[hurricanejames]

He would if it was paid off...In this case, he owes GMAC the balance of the loan and they're holding the title. I keep you all posted....

[hurricanejames]

Whew....It's been a while, but things finally worked out. I took everyone's advice and had him pay off the truck. He received the title Tuesday and we did the deal today. In the end it was worth the wait....I didn't want to say anything else until I had the vehicle in hand, so to speak.

Details go like this: 2007 H3 Tactical Edition, Black on black, new 305 series Mickey Thompson MTZs, leveling kit, 3700 miles from new.

I've already formed an opinion on the 3.7, but I'll save that for another post. Thank you all again for getting me pointed in the right direction. Hopefully pics will soon follow...

[6pack]

Good deal. Yea, I've made my feelings known on the 3.7 also. Definately get some pics up. Enjoy!

[phantom2]

Originally Posted by hurricanejames

I took everyone's advice and had him pay off the truck.

Good for you...Enjoy your new vehicle and stay safe