Buying an impreza with a lien on it
+ Reply to Thread
Results 1 to 4 of 4

This is a discussion on Buying an impreza with a lien on it within the Car Purchasing Forum forums, part of the Marketplace category; ok so maybe you guys can help me, i went to go look at this 2011 subaru impreza wrx sedan ...

  1. #1
    Registered User
    Join Date
    Dec 2013
    Toronto, Canada

    Buying an impreza with a lien on it

    ok so maybe you guys can help me, i went to go look at this 2011 subaru impreza wrx sedan from a private seller, i really like it its probably the best one for the price I've looked at so far. I want to buy the car but i found out theres an outstanding lien on it, or in other words the finance is still outstanding. can someone walk me through the steps of buying a car in this situation?

  2. Remove Advertisements

  3. #2
    Captain James of the SS Impreza has gone down with the ship Drews's Avatar
    Join Date
    Aug 2008
    Davey Jones Locker
    I Support ClubWRX
    Seems like something you could have Googled or asked your bank about. But, if you're getting financing for it, your banks should be handling the transaction. If you're paying cash for the vehicle, you'll need to have the seller contact the bank and get a payoff amount. You'll then need to work with the bank to pay off the amount of the existing loan and give the remainder of the agreed price, that did not go towards the lien, to the seller.
    Hawk-Eye Alliance #Eleventy,000,000,000|N.E.R.D. Member 20,000
    Stable: 2014 Hyundai Veloster Turbo (Matte Grey), 06 LGT, 98 RS, 16 Crosstrek

    Resident Clubdub Debbie Downer. I'd love your ideas if you kept them to yourself. Subarus suck, get a new wife.

    Never argue with idiots. They'll drag you to their level and beat you with experience.

  4. #3
    MAINEiac 11blackSTi's Avatar
    Join Date
    Nov 2012
    Land of the Port. ME
    I Support ClubWRX
    Also make sure the bank signs off on the title to acknowledge that the lien has been released (or issues an official lien release letter). Most state's won't allow you to register a vehicle that has a lien on it in someone else's name. I dealt with this when I purchased by motorcycle and it was a pain in the butt.

  5. Remove Advertisements

  6. #4
    Registered User AFP520's Avatar
    Join Date
    Aug 2005
    Have the seller contact whomever they financed the car through. Tell them you want a payoff amount that's good for 10 days and also have them give you a lien release and/or title release form to complete.

    I'd then send the check directly to the financial institution along with the lien/title release so they mail it to you and not the seller.
    '14 SWP STI

+ Reply to Thread

Quick Reply Quick Reply

Register Now

Please enter the name by which you would like to log-in and be known on this site.

Please enter a password for your user account. Note that passwords are case-sensitive.

Please enter a valid email address for yourself. We strongly suggest that you stay away from using aol, yahoo, msn, and hotmail accounts. Sometimes the mail server blocks the emails from our server. As a result you will not receive any notifications including the confirmation email.

Please select your insurance company (Optional)


Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.

Posting Permissions

  • You may post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts