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Used car paperwork question

Discussion in 'Off-Topic Forum' started by koolaukid, Nov 13, 2020.

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  1. koolaukid

    koolaukid DI Member

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    I'm getting ready to purchase a used car from a private party. We've agreed on a price and my money transfer arrives soon. The car was originally purchased as a repossession from a bank. The present owner never transferred the car into his name.

    What documents do I need from the seller to get the car transferred into my name? The seller has offered to do the transfer with me holding the last 50,000 PHP of the sale price pending delivery of the completed documents that have been transferred into my name. I'm a little concerned about leaving the documents with him and would prefer to do the transfer myself but don't know what is necessary and want to make sure I don't need his help in the future, so hoping to get all necessary documents the first go around. I've also considered hiring an attorney to do the transfer and possibly draw up a sale contract between the seller and I.

    As I've never bought a used vehicle in the Philippines, and have been the victim of several small time scams, I'm somewhat distrustful. Hoping to rely on the cumulative expertise from the forum.
     
    koolaukid, Nov 13, 2020
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  2. grandpainak

    grandpainak DI Forum Patron Showcase Reviewer

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    The last used anything I bough was a 125 bike. The seller (a foreigner) hired an attorney for the paper work. Everything went very smooth. Even though the seller paid I thought it was a good deal for 500 pesos.
     
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    grandpainak, Nov 13, 2020
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  3. Philpots

    Philpots DI Senior Member Restricted Account

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    My guess is he is going to scam you. The P50,000 you hold will be given up by him and you will be left with a car that will hard to register. Simply agree to purchase when has has the car properly registered to him and you go through the proper transfer process. Until then start looking for a properly registered vehicle.
     
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    Philpots, Nov 13, 2020
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  4. camote

    camote DI Junior Member

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    Don't buy a problem, let the seller first solve his paper work. Why you should be the one!
     
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    camote, Nov 13, 2020
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  5. OzeMike

    OzeMike DI Forum Adept

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    Get him to transfer into his name first before any purchase.
     
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    OzeMike, Nov 13, 2020
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  6. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    I wouldn't touch a vehicle with an "open" registration like that. So many ways you can get screwed, especially since it is a repo. I would cancel your money transfer asap if possible.
     
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    Rye83, Nov 13, 2020
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  7. Always a Poppy

    Always a Poppy DI Senior Member Restricted Account

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    If you decide to press ahead and let him arrange the paperwork, you must make sure that there's a document included from the original loan company stating that their interest in the vehicle and financial arrangement is ended.
     
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    Always a Poppy, Nov 13, 2020
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  8. andiflip

    andiflip DI Senior Member

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    Don't walk away____RUN
     
    andiflip, Nov 13, 2020
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  9. okiebound

    okiebound DI Forum Adept Showcase Reviewer

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    Agree with everyone else, do not purchase a car or home without a clean title or you will have nothing but regrets.
     
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    okiebound, Nov 13, 2020
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  10. Happy Camper

    Happy Camper DI Senior Member Restricted Account Infamous Showcase Reviewer

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    And remember what happened after Undoy many years ago. Lots of used cars showed up in the Visayas and Mindanao, looking good and clean. Then the problems began and when the titles were examined it was found out that many came from Marikina and were previously underwater.

    Not saying that is going to happen again, but.
     
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    Happy Camper, Nov 14, 2020
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