fbp_hatchy

Hi,

I am in the process of buying a 98 civic hatchback. In the Used Car Information Package from the government, it says there is a lien out against the car. I checked with the seller and he said that the lien is from a lease debt he owes to Honda Canada. At this point all I have is his assurance that he will pay off the debt with the money I pay him for the car, which is not enough for me.

Is there some way to ensure that the lien is paid off and he just doesn't take my money and run?


Thanks.`

EL_Sport

Don't buy the car until the lien is paid off. If the person says they will pay off the lien, have them pay it off first, and then run another UVIP after the fact to verify that it is paid off. IMO I would not buy a car with a lien against it, no matter how honest the person seems.

Just my 2 cents.
Good luck

cluster

can he even sell a car with a lien on it?

cosmic zx2

he could sell it with a lein on it.... this guy will have problems changing ownership with the lein on it...the only way to ensure that you don't have problems, ould be to get him to get a letter from the bank stating that the lein will be removed within 48hours....you can use that letter as proof when you go to change ownership

trust me, i used to do this all the time for clients at the bank

imported_D dot T

As mentioned above, do not purchase the car if it has a lien against it, there is no telling what the person will do once they get your money. I definitely recommend the lien against the vehicle be taken away before purchasing the car.

ryuujin

sorry but can someone tell me what "lien" or "lein" means? I've never heard of that before ...:P

SiRNash

A lien is:
The right to take and hold or sell the property of a debtor as security or payment for a debt or duty (dictionary.com)
Which means that the person who lent him the money for the car be it Honda Canada Finance has the right to possess the car in the case that payments are not made on the debt. I am in the process of buying a car and since Honda Finance has a lien on the car i am purchasing the car through them. Take the guy to a dealer and make the payment to HCF to clear his debt. If you are borrowing money to pay for the car it is the same thing. You will get dinged for taxes but you can also find out exactly what he owes on the car and therefore negotiate a much lower price. In any case make sure you get a release from HCF and dont buy the car if he doesnt agree to this.
Nash