Loan Question... How can this be done?

[BoosTT]

I found a great deal on an RV. I'm looking to finance about $5k of it. The only problem is the current owner never registered it. He bought the RV a few months ago and decided to go back to a truck camper again, before he registered it. There fore, the title is still in the last owners name (not the guy selling the trailer).

The previous two loans I have gotten all requred that the title be sent to the bank and the bank then gives me a check made out to the name on the title. I then would give the check to the seller and pick up the rv. And the problem arises that the check would be in the wrong name.

The two options I can see are either: Have the current seller register it and then I buy the rv or I try to do an unsecure loan and then roll the loan over to a secured loan? Not really sure?? Any ideas?

[MoCkiN U]

would think current owner would need to register so you get a clean title and verify there arent any liens (sp?) against it

[03Seville]

Yeah you would probablty be better off that way. That will avoid any possible b.s. to go through.

If he has a loan for it and he has yet to register it you would have no way of knowing and then when you try registering it you wouldnt be able to until the lien is met

[BoosTT]

^but the current owner has a signed title, therefore no current leins on it.

The problem with registering it is sales costs and fees... any other options?

[MoCkiN U]

I also had a signed title for my bike. it was from the previous owner to my seller. tried to register and since he didnt register to get title in his own name his financial instituion that he financed through to get the bike to start had a lien against title. He just didnt register to show the title which would have lien typed on it and try to skate out of it. Took from Feb to Nov to get fixed for me with weekly phone calls throughout.

[BoosTT]

Ugh... looks like registering it is the only option. Thanks for the heads up

[03Seville]

I also had a signed title for my bike. it was from the previous owner to my seller. tried to register and since he didnt register to get title in his own name his financial instituion that he financed through to get the bike to start had a lien against title. He just didnt register to show the title which would have lien typed on it and try to skate out of it. Took from Feb to Nov to get fixed for me with weekly phone calls throughout.


:thumbsupthank you, exactly what i was trying to say just more in depth lol

[easytoremember]

The problem with registering it is sales costs and fees... any other options?

personally, id say this is his problem, not yours. He's trying to title jump, which is illegal. His problem, not yours.

[BoosTT]

I'm just going to go to the dmv and have them run a title check for liens then pay cash for the rv.