Posted 2014-04-21 7:01 PM (#158744) Subject: purchasing out of state trailer
New User
Posts: 1
Location: hebron indiana
Hi, I am looking to purchase a trailer out of state from a private seller. The trailer does have a lien (loan/lienholder) so I am wondering what I need to do to purchase (I will not be using financing) long distance and protect myself in this transaction. Thanks for any input.
Posted 2014-04-22 2:20 PM (#158758 - in reply to #158744) Subject: RE: purchasing out of state trailer
Member
Posts: 8
Location: lubbock, tx
I bought ours the same way I had the person give me the banker that they use an I contacted the banker and asked her to email me a copy of the title so that I could verify the trailer and the owners and then had them verify the payoff amount, because the trailer was going to cost me about a thousand more than the payoff. I then contacted my bank and notified them of what I was going to do and the banks usually will have a cut off time of the day that the transactions have to be done by and sence we were dealing with banks from centeral time and east coast time we had to coridanite the time so both would be open to give and receive the money at the same time. Then I drove the thousand miles to pick it up and had my wife on stand by at home so once I looked at it and made sure it was what they said it was and verified the vins matched she could go to the bank and have our banker wire the funds to the other parties bank and when that was done the bank contacted to trailer owner and said the lein was paid off I gave him alittle boot money and had the bake mail me the title and I drove the thousand miles home.
Posted 2014-04-22 2:39 PM (#158761 - in reply to #158758) Subject: RE: purchasing out of state trailer
Member
Posts: 8
Location: lubbock, tx
sorry for the bad spelling I was typing along and did not realize that it was so bad until after I posted it and read the post should have spell checked it first. I tried to go back a correct it all I did was add more post sorry wont happen again.
Posted 2014-04-22 9:38 PM (#158767 - in reply to #158744) Subject: RE: purchasing out of state trailer
Expert
Posts: 3853 Location: Vermont
Do meet in a public place...preferably the parking lot of the bank/credit union...so you can complete the transaction in their offices...and they can notarized the bill of sale
purchasing out of state trailer
