Question : FL: How do I protect myself when buying a vehicle from a private party?
I’m currently looking at buying a vehicle from a woman in a neighboring town. I live in Tampa Florida, she’s in St. Pete Florida.

She currently has a lien on the vehicle through Michigan Educational Credit Union, I’ve asked a coworker who buys and sells cars often, his advice on how to handle this matter while being able to assure that in the end of this; I receive a clean title in hand.

My coworker said that the lady and I should meet at my bank(Bank of America), that we can get a Bill of Sale notarized and that I can wire transfer the money to her bank account so that her electronic lien can be released on the vehicle. At that point the vehicle is legally mine(with the notarized Bill of Sale, as well as a receipt for the wire transfer from the bank).

I can then take my Bill of Sale to that Tax Collector for a temporary tag and registration for the vehicle as we wait for the title to arrive at her house in the mail.

Once the title arrives at her home, she’ll sign it and I can go to pick up the vehicle. Then return to the Tax Collector’s office and get my permanent title placed on the vehicle.

Does this scenario sound reasonable? Is anyone familiar with the procedure of transferring titles with liens against them?(I know dealerships do it all the time when trading cars in that have liens against them, there must be a way for private parties to do the same)

I’ll be plugged into this thread all day, waiting for your responses and ready to answer any additional questions.

Please and Thank you. =)
I have done the Carfax on the vehicle, it’s completely clean. =)
homes for sale in tampa fl

Best answer:

Answer by bj
That does sound reasonable. I would also suggest calling your bank, her bank and the tag office, to verify what you have been told. They won’t mind, at all, answering your questions. One more suggestion would be to get a car fax on the vehicle, as well, if you haven’t, already.

Good luck! :)