nyro479

Hi guys, I am in need of some advice and help - I found an 03 Black IS300 Sport design, everthing I wanted with 66k on it, 2 owners properly maintained. The price is 11k - I know I could properly talk him down to 10.5 - Its a private party also.

The situations is hes lives aboutt an hr away - and there is a lien on the car with lexus financial.

I spoke to him concerning the car - theres is no way to walk into a dealer to pay for the car, you cant transfer the payments to my name. so I'm not sure how to proceed. I just dont want to lose out on 11k. What is the best and safe practice to how I should deal with obtaining this car. Thanks guys.

voleduy

11k is really a good deal. Mine was 11.6k with 03 and 68k miles but not a sport design. How much from dealer and how much for a payment?

nyro479

its a private party - thats the reason if I should go through the deal.

03LexIS300

there should be some way to pay off the car and him obtain the title and sign it to you once you buy it.

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iTrader: (1)

The situation says, it seems like something fishy might be going on..



First of all.. Don't even talk to the owner if he does not have the title because technically the car DOES NOT belong to him & he can't sell it until the lein is taken care of so it doesn't matter. You have to ask him who has the title then talk to them.. Don't take the owners word for it if he says he only owes soo much money, talk to lein holder because there might be hidden fees too, title transfer fees, interest fees, late fees, etc... See how much he owes on the car, then negotiate with the owner. Who knows, he might still owe $6,000 or more on the car, if you pay him $11,000 then still have to pay off the $6,000 lein then it doesn't sound like too great of a deal anymore.. And don't pay off the lein without some kind of written & notarized contract.. Because once you pay that lein the lein holder will release the title to whoever's name/address is on the title, and I'm 100% sure your name is not there... Dealing with leins is a big headache, best thing is to deal with someone who has title in hand, alot less hassle. But if you are willing to deal with it you could probably get the car for cheaper than 10.5

nyro479

- I think the best thing for me to do - Is to pay lexus financial myself of what he owes - make a notarized bill of sale, take the car into my possession - when the title arrives to meetup and I'll give him the difference and take the title.


You guys think i can get screwed if I do all of this?