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Buying a Car: Still Under Lease
Ruff Ryd@s
07-06-2010, 04:45 PM
i am looking to buy a car from a 2nd owner ( i will be 3rd).
Seller says he is currently leasing the car through a private company, and will pay out the lease prior to selling it to me.
Is there anything i should be aware of with this type of deal?
Jgresch
07-06-2010, 04:48 PM
run a lien check after he says its paid out. Make sure nobody has anything owing on it.
Ruff Ryd@s
07-06-2010, 04:51 PM
he says if i purchase the car, there will be an icbc guy with us on that day and will be done at his lease company
where would i get the lein info?
hchang
07-06-2010, 04:54 PM
he says if i purchase the car, there will be an icbc guy with us on that day and will be done at his lease company
where would i get the lein info?
http://www.icbc.com/registration-licensing/buy-vehicle/buy-used/inspect-used#Do_a_lien_search
Ruff Ryd@s
07-06-2010, 05:13 PM
lein is the only thing that i should be aware of?
FerrariEnzo
07-06-2010, 06:02 PM
car issues.. like accidents and what not.. the usual... you dont want to buy a car that has any problems..
do you know a mechanic that can go with you...
i would pay the $10 and do the lein search somewhere else, just to be sure they dont mess with the paperwork!
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