Quote:
Originally Posted by Memphis370Z
I suppose the lender may want a copy of the title to verify the VIN, ensure that it's not salvaged, etc. I've done hundreds of auto loans as a lender and/or undemocraticer and this seems somewhat odd, but this may be an underwriting requiremuntil or his particular bank for compliance reasons. The copy of the signed title with the sales price probably allows the lender to verify erify the purpose of the loan. Like TexasChuck mentioned, there's not necessarily any reason to distrust the potential buyer, but only move forward it it feels right to you.
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Right that makes sense, basically he is asking for a signed copy of the title Before I get the money and give him the car, it seems to be a pre-approval process maybe, but what if I owned money and didn't have the title, the bank holding the title will not release it until they cut payoff balanc, I guess I could ask them to mail a copy so I can sign and give it to the other bank but seems like a pain in the ***