Buying a car off an owner that still owes the bank

Asked by GuruGN4GS Aug 24, 2020 at 05:47 PM

Question type: General

A guy at work wants to sell me his truck. He still
owes the bank $16,000.00, which I’m willing to pay
it off, & he would sign the title over to me. The
problem is, it’s not a local bank that we can go to.
It’s in Denver Co, & we live in Phila area. The bank
said if I send the payment in, it would be mailed out
in 10 days. I’m not comfortable with this
arrangement. Can you suggest a solution?

1 Answer

Your Answer:

Related Questions

Shortcuts

Search General Questions

CarGurus Experts

  • #1
    Paul
    Reputation
    56,680
  • #2
    Gene Arnett
    Reputation
    47,810
  • #3
    Mark Weiner
    Reputation
    42,120
View All

Find great deals from top-rated dealers

Search

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.