busybee2Posts 10392
what-evsPosts 73
if the seller can't pay the loan and get a release letter from the bank without the money you are going to pay for it you have to go together to bank, you pay off the loan and they give you the release letter/slip there and then. you then both go down to the rta and transfer the ownership, you can't do this without proof that the bank loan has been paid off as on the current registration it will detail that it was under finance.check with the bank about where/when you can go and pay it off and immediately get the release letter as it won't be all branches at all times, a certain level of staff member will be needed i think.hth
klflopsterPosts 365
There was a thread recently not sure exactly but you and the seller o to the bank together to pay the loan and you get a release slip .......goes something like that but I am sure someone can clarify !
skyhighgirlPosts 255
My husband wants to buy a car in cash but unfortunately it has a bank loan on it, can anyone recommend the safest way to do this as we have to pay the loan off before the transfer is done but we are worried about doing this. TIA.
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