salukimike

So I've found a Silver on Black 2007 TL Type-S. Odometer is around 33K, the car is in good condition, doesnt look to have any major dents or dings or major mechanical/body work.

The guy is asking $23K, I know this is a steal and that is my concern...I've done all the homework (carfax, checked DMV records, autocheck) and nothing is wrong with the title and no damage reported. I asked him if it was a salvage/rebuilt title and he says he doesnt know what that is so no.

Maybe I am being overly suspicious but I am not sure.

Does anyone have experience selling used cars in Wisconsin? He says its a non title holding state (I'm from IL) and that he has the title in hand even though he has a lien with Acura Finance and that we can sign it over and I can pay off his loan with Acura..

Any advice would be helpful guys, haven't bought a used car in 6 years and the 1st go around didnt run into these issues.

Turbonut

iTrader: (1)

Acura TL Type S 2007 - $23000 (Madison, WI)
Date: 2009-07-21, 7:37PM CDT
Reply to: sale-nffjn-1282170015@craigslist.org
Immaculate condition TL Type S. All options including leather interior, navigation system, blue tooth technology, etc. 31,000 miles. Silver with black interior. All service records at Zimbrick Acura. NADA retail is $27,950. For sale at $23,000 or best offer.

Usually, if it sounds too good to be true...................
If he has the title, there should be a lien holder on the title. I assume no different than any other state in that the lien holder needs to be satisfied before they sign off.
If it were a local bank, and the car was up to your expectations, you could both go to the bank, pay off the loan, give him the balance, bank would sign off and you have the title.
If Acura is the lien holder, call them to see how it can be handled. Not certain if a dealership can be used as their agent, but if I were to pay a loan off, I certainly would want the title and car immediately.

salukimike

that would be the one, I felt the same way as well, just skeptical with the whole title thing.

Turbonut

iTrader: (1)

Call the dealership where the work has been performed and see what they say about the car. Tell them you're interested in the car and just want to verify that maintenance has been done.

You never know until you check the car out. 99.9% of the time it's a wild goose chase as I would believe that the owner could sell that car to any dealership for the asking price if it's in the condition stated. It would be a quick turnaround for the dealer as they would make a quick $3/4000.

salukimike

I was going to check the car out this evening, hopefully not a total waste of time, just feel like we wont be able to strike a deal because of the whole lien holder issue.

nfnsquared

He may have a non-negotiable title with his name on it, but with Acura as a leinholder. He can't sign that title over. He'll need a lien release form from Acura.

As far as WI being a non title holding state, look at this link:
http://www.dot.wisconsin.gov/safety/...r/sellrite.htm

It says if you money on a car, the title will have a lien on it.

The whole thing sounds fishy to me combined with the fact that it's on Craigslist. I'd certainly proceed with caution and pay to have a CARFAX run on it. Is he the original owner?

nfnsquared

^^^Looks like WI is indeed not a title holding state. The original title is mailed to the owner. You'll need to look at the title in person to be sure there is no lien on it. Even though the titles are mailed to the owner, a lender could still require a lien on the title after the owner receives the title:

http://www.dot.wisconsin.gov/drivers...title/lien.htm

I'm a bit confused by the statement on the other link: "If you owe money for the car, your title will show a lien (a secured party). You must pay what you owe and get a lien release from the lender". It seems to conflict with a non title holding status.

I'd also call Acura to verify they don't have a lien on the car. All you should need is their phone # and the VIN.

j1n

iTrader: (1)

car is fine in terms of the carfax (1 owner, no accidents). i ran a report for him. i have unlimited carfax reports till 8/12.

Jiggy2dmax

iTrader: (1)

I would say do your due dilligence with any used car but as far as pricing, that's what I would expect to pay for a 07 with that mileage.

Phyrus

The title decribed in Wi is the same in my state and you can't transfer the title without the lien card. You can't get the lien card without paying off the lien...unless you are a dealer and maybe a bank. When I sold a car to a private party, I had to pay off the lien with my own money before I could sell the car.

salukimike

well thanks for everyones help, guy ended up flaking and not selling his car (don't think I would have gotten into that deal anyways).

so I'm still looking for a 2007-08 TL w/ NAV or Type-S, will also consider a 2006 (i'll just have to install the 3 spoke steering wheel) so if anyone knows any for sale at a fair price let me know.

Thanks.

Jiggy2dmax

iTrader: (1)

Not sure where your located but:

http://cgi.ebay.com/ebaymotors/2007-...=p4506.c0.m245

AlexNyc83

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