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How To Buy A Car With A Lien. In case the car has a reported lienholder, ensure that the seller is in possession of a clear title before completing the purchase. Carfax canada vehicle history report + lien check will search for liens in every province or territory in canada so long as the vehicle is currently registered and/or has been registered in the past.
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Obtain a loan for the car purchase. In either case, the vehicle will be easier to sell if you owe less than its current worth. My bank requested a payoff letter from his bank, and my bank overnighted a check for the payoff amount to his bank.
Send payment to lender with loan account number on it to pay off the car loan. A lien holder will be listed on the physical title, if held by the owner and will also be recorded with the dmv in the state of the car’s registration. This should be smooth sailing for you. The original financier will have been paid off, and the dealer will own the title.
