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I am thinking about buying a car at an auto auction, and I know when you buy a car with a lien, you get a title from the DMV with my name and the lien holder’s name, but what if I want to sell the car at a later date? How do I transfer the title since it has both of our names on it?
Is there anyone that understands how buying a car at an auction with a lien works? I would really appreciate any help since the only person that answered obviously has no idea how it works. When you buy a car at auction with a lien you are not responsible for the lien, the only thing linking you to the lien is the title, there is ZERO chance you will have the car taken away or have any link to the debt. Thanks anyways, but please don’t comment unless you have an answer.
Here is a little bit of information, since no one on this answer has any idea what they are talking about, and I don’t want anyone looking at this to get their wrong information about liens at auction: "if you are the highest bidder, you get the auction papers to the car, when u go to the DMV you will register the car as your own, the title will come in the mail and show an existing lien on the car it says the banks name and your name yet, the person who originally requested the auto loan will have to pay for the car even if it is in your possession, so you are not responsible for paying the lien and no one has the authority to take that vehicle away from you as long as you bought it legally in a auction and keep copies of all the auction paper work cause one day you might need it."

3 Comments »

1. 

   The car is being sold at auction to clear the lien. If you buy it the lien will already be satisfied and title will come in your name only.

   Comment by Bill — May 1, 2011 @ 2:25 am

2. 

   Why even do this? Can’t you find another car without a lien on it?

   Who knows what it will take to remove the lien. You can xfer the title but who is going to buy the car with a lien on it? No one with a brain will touch it unless they get it super cheap.

   Comment by Uncle Bo — May 1, 2011 @ 2:25 am

3. 

   Auctions don’t sell cars with liens on them.

   Sellers at auction don’t get paid unless and until they deliver a clean title to the auction.

   Nobody can legally sell a car with a lien on it without paying off the lien first.

   And, lienholders dont give up the title until they get paid so chances are if you have the title, there is no lien.

   Comment by n — May 1, 2011 @ 2:25 am

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