Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Specific Regional Topics > Quebec/Gatineau/Ottawa
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 06-22-2010, 09:16 PM   #1
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
I have a question... Re: Buying a car that is stil financed

I just called Montreal to inquire about an E39, and the guy tells me the car is still financed.

What does this mean? The car is not in his name or something?
Sorry I have no idea how to deal with this situation so I thought I'd ask the fellow bimmer guys.
What happens if I pay him the agreed amount? (I wont till I know whats exactly gonna happen, hence why I asked).

Thanks!

Last edited by zarbat007; 06-22-2010 at 09:42 PM.
zarbat007 is offline   Reply With Quote
Old 06-22-2010, 09:19 PM   #2
propr'one
op sucks cock
 
propr'one's Avatar
 
Join Date: Jun 2004
Location: T.
Posts: 17,685
Send a message via MSN to propr'one
he dont own the car, the financing company does.

If he sells you the car he will have to pay the financing company their end before they release title to you.
__________________
d1s bulb canada

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
hid headlights hid kit
propr'one is offline   Reply With Quote
Old 06-22-2010, 09:25 PM   #3
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Ah thanks for clearing that up. Thats exactly what he said.

So suppose I go over this Sunday and pay the agreed amount, how long would would it take for that whole steps to be over?
Would anyone go through this?
zarbat007 is offline   Reply With Quote
Old 06-22-2010, 11:25 PM   #4
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
Ick. So there's a still a lien on the car? I'd be a little worried that he takes the money and runs.
I'm not sure how you'd be able to verify that he pays the company. Maybe write the cheque directly to the lienholder?

Deets on the car!!!!
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Old 06-23-2010, 12:41 AM   #5
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Ok, I just checked with bimmerforums guys, apparently its done many times.

The guy seems legit, sounds to be in his 40s, in the email was his cell number attached along with a company number plus extension, I googled the company and everything looks good to me?

Here is what he sent via email:

"The car has been impeccably maintained at a certified BMW dealer. I have all the paperwork.
Did the front brakes in the spring, front suspension last year, rack & pinion this year (wear & tear)
You should be good for a while! I always used 100% synthetic motor oil 5W30.
The car is very clean, the leather seats have NO tears, due too my using leather conditioner
regularly. The engine is super clean (shampooed every year!) I am very meticulous in the details,
condition and performance of my car. You see it when you see my car. Obviously, it’s a 2001
model, therefore, it is starting to show some little rust spots that can be easily remedied. Rest assured,
the car has never been accidented.
VIN: xxxxxxxxxx
The car will appear as belonging to Park Avenue and myself ,
We can discuss more tonight.
Cheers.

company name

Tel:

Cell:

Fax:





What else I know:

has M steering wheel, these wheels: http://img.villagephotos.com/p/2004-9/839120/Wheel3.JPG

and comes with winter tires and rims.

2001 530i, 220k , manual, M5 package

Last edited by zarbat007; 06-23-2010 at 12:53 AM.
zarbat007 is offline   Reply With Quote
Old 06-23-2010, 09:08 AM   #6
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
I dont' know abotu M5 package but it sounds like a sport. There's one very similar to this one near my place but silver...

Good luck!
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Old 06-23-2010, 11:22 AM   #7
sb_600
5th Gear Member
 
sb_600's Avatar
 
Join Date: Apr 2010
Location: Ottawa, ON
Posts: 1,183
If there is still a lien on the car, get a copy of the bank records stating how much he still owes. When you go pick up the car, bring two certified cheques - one to the bank, and one to him for the balance. That way, he can't run away with the money.

GL!

Shawn
__________________
Shawn
1992 BMW 325i (CHUMPCAR #296 - Metric Homes Racing)
1992 3.0L M52 325i (ex-daily driver - track car only)
2002 330Ci (ex-daily driver - sold!)

sb_600 is offline   Reply With Quote
Old 06-23-2010, 06:16 PM   #8
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Quote:
Originally Posted by carjoe View Post
I dont' know abotu M5 package but it sounds like a sport. There's one very similar to this one near my place but silver...

Good luck!
Link? Is it a 530i? Asking price?

More info please!
zarbat007 is offline   Reply With Quote
Old 06-23-2010, 08:54 PM   #9
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
No no, it's not for sale...dude just lives around here.
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Old 06-23-2010, 09:24 PM   #10
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Damn it Joe, you got my hopes high.


Don't sport packages have a chrome trim around windows because this one doesn't seem to have it.

Here is my plan: I go to Montreal this Sunday since I wanna go see the old Montreal and the city anyway. See the car, inspect, test drive, if all is good, come back Wednesday or Thursday with payment and go to the loan company's office with the seller to make the payments and transfer the title.
I'll have to call the loan company first (BMW dealership in this case???) and ask them what can be done.

Here are some pics the seller sent, apparently the only problem with exterior is rock chips on hood. We'll see.

http://img294.imageshack.us/gal.php?...1006231043.jpg

Oh and the wood trim above glovebox is slightly cracked and the climate control is missing "Max AC" button for some reason.

Last edited by zarbat007; 06-23-2010 at 09:34 PM.
zarbat007 is offline   Reply With Quote
Old 06-23-2010, 11:04 PM   #11
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
It's the opposite. sport=black trim
I've always wondered how interiors get beaten up like missing buttons or cracked trim....

Looks good from what I saw. I'm willing to bet it has comfort seats with the articulating upper section and adjustable lumbar...Adam has them. Supremely comfy.
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Old 06-23-2010, 11:21 PM   #12
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Ah I see, so this car does have the sport package.
Every E39 I've seen so far had one or two broken wood trims. Not sure why, abuse? crappy quality?
Does yours have any?


As long as the body is clean and there are no major issues, I'm interested. Otherwise I'll just wait for other deals to come up.
I always say buy it once, buy it right.
zarbat007 is offline   Reply With Quote
Old 06-24-2010, 07:32 AM   #13
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
Nope. Interior is perfect. Aside from the ginormous heated wheel of course...
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Old 06-25-2010, 06:10 PM   #14
zarbat007
3rd Gear Member
 
Join Date: Feb 2007
Location: Ottawa
Posts: 370
Got one more question...

If I, an Ontario resident, buy a car from Quebec, would I have to pay any taxes to Quebec?
If so, what % ?
zarbat007 is offline   Reply With Quote
Old 06-26-2010, 12:13 AM   #15
carjoe
6th Gear Member
 
carjoe's Avatar
 
Join Date: Nov 2006
Location: Ottawa
Posts: 1,839
Nope. Bring it over, get it safetied and e-tested, same as any other car.
__________________

93 325is - sold!


2000 540ia- sold!


carjoe is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 07:19 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.