dryadsdad

Ask your bank about setting up an escrow which will protect you from any fraud on the seller's part.

hotinaztoo

This is true, especially in Ohio, pain in the Azz!

hope2

Best advice is know your seller. One check to both seller and lien holder or two checks is fine. Just know once lien is paid Wells Fargo gives not a **** one about you getting your title. So prepare for delay. Basics such as copy of sellers drivers license and name should match the title. Wire transfer best for expediting title.

stingray71

Wow it sounds like there are a lot of different experiences on this. I bought a car in New Hampshire 2 years ago and the seller had a credit union lien against it. It wasn't too complicated.
1. We agreed on a price.
2. The Credit Union had to apply to the DMV to get a clear copy of the title
3. After they received it, I flew up and brought a cashier's check and we met at the Credit Union.
4. They processed the payment and he signed the title and I drove my new car home.

Reckedhim

When I bought my car, I had my credit union send me a check for the price we agreed upon, which was also the amount left on the seller's loan. The check was in the seller's name. We went to his bank and they confirmed the amount left on the loan. The seller deposited the check and his bank said it would take 10 business days for my check to clear. My credit union wouldn't do a wire transfer and his bank wouldn't call mine to verify the funds, so there was no way getting around the 10 day wait. We wrote up a bill of sale and signed it in front of the bank clerk. She also signed the document to verify she had witnessed us signing it. We provided each other with copies of our driver's licenses. He gave me the keys and I took the car home where it sat in my garage until it could be registered.

When my check cleared with his bank, he got the title, signed it, and overnighted it to me. I then registered the car and all was good.

farmington

hope2

Don't give up. Try establishing a personal connection with someone at Wells Fargo, specifically in the department that would be sending you the title. We were successful using that strategy on a mortgage lien. Some people do care and are helpful. Find one.

J3TVETTE

I think a lot of people here are way too trusting with cashiers checks and the 10 day clearing time. I take cash only, those cashiers checks are constantly faked and can take a lot longer than 10 days to come up as fraudulent and then you are out 30-40k and your car which happens to be on a ship out of the country.

farmington

buckmeister2

just did it a couple months ago. Seller had the title with Wells. We went to his bank, did a bank transfer for the funds. Seller signed his state's "notification of sale/transfer" or something like that, and a Bill of Sale that I brought with me. Two weeks later, I got the title.

Don't believe anyone who tells you it will be a couple/few days. It will take 10-14 days, maybe longer.

When I sold my Vette a week before I bought the new one, we went through the same process. My lender took over 3 weeks to get the title to me, which I then forwarded to buyer. However, if you are dealing with a Credit Union, they usually have the titles in-house, which makes it much easier, and quicker.

it is a simple process as long as you do a little research, and go to the bank to do the transfer. You may also go to the DMV, which is the correct thing to do as long as they don't assess their sales tax rate on you.

Jim

gliot1

Wells Fargo sucks. They lost my buddies title. I had another buddy jack him all over on his business property loans and home refi. Move to Chase! There was a note above talking about a car where the owner had title; not this situation and yes if they money is secured in your account it should be no biggie for the bank to do direct transfer and send the title ASAP. Bank to bank transactions are very easy these days and can be confirmed. Cashiers check, yes there is a hold at some, even though I learned these checks are already guaranteed, the issue is fraud cashiers checks are now easy to print on a home printer. I just sold a 78 Pace on eBay. It was bought out of AR. Pretty simple really. They did direct transfer of funds, bank to bank, once I produced a copy of the title, scanned with matching serial number. I put a watermark over it "Copy". They sent a shipper out, trailered it up; gone; title went with car.

hope2

Small local banks are the boss, just sayin.

919cw313

This is why location does matter. If it was a MI car, both parties could have walked into a WF with the title and would have left with the lien released, the loan satisfied, the leftover money in the seller's account or pocket, and a clear title in the buyer's hand.

Instead, he talked to someone not so helpful at WF and has walked away from the grief.

silverbullit99

You should pay off the bank that has the lien, have your bank reach out to the sellers bank and take care of. Never just give the money to the seller with hopes that he pays off his loan.

artz66

919cw313

^ Uh huh. Sounds like a good plan.