Faeton
Jun 17th, 2006, 10:15 PM
I'm stumped right now, and I figure RFD is the place to go for these questions.
I'm in the process of buying a used car, but the car still has a lien to the finance company. The current owner will use the proceeds from the sale to pay off the loan.
Now, my question is, how does this happen without me getting the short end of the stick (ie. the owner running off with my money without paying off the lien)? I know this type of transaction must happen all the time, but trying to find the proper procedure.
Thanks!
I'm in the process of buying a used car, but the car still has a lien to the finance company. The current owner will use the proceeds from the sale to pay off the loan.
Now, my question is, how does this happen without me getting the short end of the stick (ie. the owner running off with my money without paying off the lien)? I know this type of transaction must happen all the time, but trying to find the proper procedure.
Thanks!