Not sure this is really lightning specific, but I've found a couple of lightnings that I'm interested in that are out of state private sales. Any best practices when it comes to docs, title, registration etc.? Seems like the biggest issue is if there is a loan on the vehicle and the seller needs the proceeds to payoff the loan. Any good resources or suggestions?
Best practices for out of state private sale purchases
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If there is a lienholder then you'll want to do the transaction directly with the lienholder (bank) with the owner present as you'll want to pay the lienholder directly. Then the lienholder will release the title but not sure how that portion plays out.
The registration will be on you in your own state after getting it titled in your state.
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I will have red XLT with the big battery and max tow and clear title in a day or two located in va.
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I won it so i can deal.
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Check with your state registration officials on what you’ll need to register the truck in your state. Sometimes there is additional paperwork the seller needs to complete (e.g. odometer or damage disclosures). You’ll want to get the seller’s signature on all necessary paperwork when you close the deal.
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Maybe the seller would consider this. I have no experience other than having heard of them as an escrow/titling agent:
We've Moved! | TRED.com
www.tred.com
I bought a car using Navy Federal, who held the title and where both of us were members. They had the seller meet at his local branch simultaneously with me at my local office. I financed through NFCU and on the other end, they inspected the car for any obvious damage, took possession, and held it in their repo lot. I hopped on an Amtrak and picked it up using my own plates. Went off perfectly, although I could tell it wasn't the usual transaction for any of us.
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