Just agreed to purchase a 2006 Cobalt SS. The guy owed money on it said he was going to pay it today. If they send him the title through the mail when could I expect to get it

 

took me almost 2 months to get my title last time.

 

Depends on the bank, and the state. Some states have laws that state that lienholders have to release the title within a certain time period.

My bank tried to say 15-30 days on the 2.4L, 'til I threatened them, then that turned into "3-7 days" pretty quickly. We'll see, my balance said PAID for the first time today, so I should know for sure what I'm looking at by this weekend.

By the way, I gave the new owner of my 2.4L a bill of sale that stated that the car was on lien to be release by me within a reasonable amount of time, and required him to have insurance until such a time as he aquired the titled, you all could do something similar -- it states who has liability for what until the transfer is complete.


If you are both in the same state as the car is titled, and the lien is paid in full if the DMV were to check, the DMV may be able to release the title from the bank at their office as well ... its worth a call to check.

Another idea, is to have YOUR bank (if you're financing) call his bank and demand the title.

Edit: Btw -- what's up with the Camaro V6 as a kill ??

 

Haha it was my friends camaro. And the guy who I'm buying the car said it would take 1-10 days?. I'm going to Arizona tomorrow any chance you think he'll have a clean title when I'm back. We both live in the same state. He just borrowed money from his dad to pay off the rest of the loan because if he did it through his credit card it would take multiple days because they have to go through Western Union? Seems weird but I caleld GMAC and they said the same thing.

Btw all those kills were in the beamer thing was a beast like 360 torque still kind of puzzled that I lost to Camry =/

 

I'd called NJ DMV tomorrow and ask them what their laws are regarding release of title.

I doubt he'll have it within 10 days. I believe for most states, it's XX days after his check clears, so obviously a hair faster if he did it through certified check.

Assuming you didn't pay cash - were it me, I'd wait until I got back from my trip, then get my bank to start harassing the **** out of his bankGMAC. It is THEIR title of course. Even you could do this I'm sure if you paid straight-up cash for it... I mean, it's not like you care how upset GMAC gets. Squeaky wheel though, you know.

BMW 7-series are killer. So are you keeping the A4 as well? A good friend of mine just bought an A6 3.2 Quattro about a month ago, he loves it.