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

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