advice needed!!! - The 1947 - Present Chevrolet & GMC Truck Message Board Network

PureChevy · 10-01-2003, 10:49 AM

I have been trying to sell my camaro for a long time, finally someone is buying it. It has a lien on it. I signed a power of attorney for them to transfer the title and lein. His bank will pay off my bank and then cut me a check for the rest. My question is, will the bank do some sort of Bill of Sale, or should i do one and have him sign it when he picks up the car. I just want to make sure that everything get s done right.

thanks

Tx Firefighter · 10-01-2003, 11:17 AM

You shouldn't have to worry. His bank will definitely transfer the title in the new guy's name. The bank will put their lein on it till the new owner pays it off, so they won't screw around. His bank will wan't their name on the title and everything above board real quick. That way they are covered if he don't make the payments.

That's what that document fee covers, all the legwork.

Kevin

PureChevy · 10-01-2003, 12:10 PM

THAT IS WHAT I THOUGHT. THANKS

moneyguru · 10-01-2003, 12:32 PM

Be very careful!

People have scammed out of there cars doing things like this:

They have someone pretend to be the bank calling to tell you that the loan has been paid off and the rest of the money has been deposited in your account.

You give them the car and keys...car is then gone.
Insurance won't cover it either.

PLEASE BE VERY CAREFUL!

M.G.

PureChevy · 10-01-2003, 03:41 PM

I dont think this is a scam. I will call my bank tomorrow and make sure that it has been paid. Then they are cutting me a check.

oldtrucknut · 10-01-2003, 08:43 PM

I would be more leary of signing over power of attorney. I am not sure how it works, maybe someone can explain to me and anyone else. Can it only be used once or what? Is that what he really needed to sign in this case? I think that you can sign an affidavit that states that you will deliver the title in so many days ( here in Indiana). If you can do that, you can take the money, pay off the loan yourself and then send the title to the buyer.

10-01-2003, 10:49 AM	#1
PureChevy Registered User Join Date: Jun 2003 Location: Hickory, North Carolina Posts: 340	advice needed!!! I have been trying to sell my camaro for a long time, finally someone is buying it. It has a lien on it. I signed a power of attorney for them to transfer the title and lein. His bank will pay off my bank and then cut me a check for the rest. My question is, will the bank do some sort of Bill of Sale, or should i do one and have him sign it when he picks up the car. I just want to make sure that everything get s done right. thanks __________________ 1972 k10 4x4 LWB (Sold in 2005)

10-01-2003, 11:17 AM	#2
Tx Firefighter Watch out for your cornhole ! Join Date: Jun 2003 Location: Azle, Texas Posts: 14,162	You shouldn't have to worry. His bank will definitely transfer the title in the new guy's name. The bank will put their lein on it till the new owner pays it off, so they won't screw around. His bank will wan't their name on the title and everything above board real quick. That way they are covered if he don't make the payments. That's what that document fee covers, all the legwork. Kevin __________________ I'm on the Instagram- @Gearhead_Kevin

10-01-2003, 12:10 PM	#3
PureChevy Registered User Join Date: Jun 2003 Location: Hickory, North Carolina Posts: 340	THAT IS WHAT I THOUGHT. THANKS __________________ 1972 k10 4x4 LWB (Sold in 2005)

10-01-2003, 03:41 PM	#5
PureChevy Registered User Join Date: Jun 2003 Location: Hickory, North Carolina Posts: 340	I dont think this is a scam. I will call my bank tomorrow and make sure that it has been paid. Then they are cutting me a check. __________________ 1972 k10 4x4 LWB (Sold in 2005)

10-01-2003, 08:43 PM	#6
oldtrucknut 67-72 truck surgeon Join Date: Jul 2003 Location: Indiana Posts: 155	I would be more leary of signing over power of attorney. I am not sure how it works, maybe someone can explain to me and anyone else. Can it only be used once or what? Is that what he really needed to sign in this case? I think that you can sign an affidavit that states that you will deliver the title in so many days ( here in Indiana). If you can do that, you can take the money, pay off the loan yourself and then send the title to the buyer. __________________ 1969 Chevy C10 1993 Toyota Camry LE 1999 Ford F250 Super Duty 4x4 diesel 2008 Dodge Charger Super Bee 1953 International R182

10-01-2003, 12:32 PM	#4
moneyguru Registered User Join Date: Oct 2002 Location: kalamazoo, mi Posts: 397	Be very careful! People have scammed out of there cars doing things like this: They have someone pretend to be the bank calling to tell you that the loan has been paid off and the rest of the money has been deposited in your account. You give them the car and keys...car is then gone. Insurance won't cover it either. PLEASE BE VERY CAREFUL! M.G.



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