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Buying a car with bank lien off private seller in California
Hey, has anybody ever actually bought a car from a private seller in California where the car has an existing bank loan? I've been reading online and much of the advice is pretty generic... have seller contact bank... pay at bank... wait for title...
If I pay off the bank, do they have paperwork to declare that I paid for it therefore have DMV mail the title to me, or will it still go to the seller, and the seller has to give it to me? I presume large banks participate in some form of electronic lien system, so they don't actually hold the paper title.
If they don't use that particular electronic system, do they actually have the title in hand? I'm thinking there's still some central office that has to process it, and then mail it.
All this because I'm supposed to have 10 days to register the car in my name, and the number one requirement is: a title!
All the best and thanks as usual for all the great insight.
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