What Is The Risk Of Buying A Car From A Private Party Moving Out Of The Country W/lien Through A Credit Union?

The person selling the car has a loan through Maps Credit Union. Map’s holds the Title for 10 days after the loan is paid off. The person selling the car is moving to New Zealand before the Title is released. Maps Credit Union indicated that the seller could sign a ‘Power of Attorney’ to them to sign off on the Title. There would also be a ‘Bill of Sale’. Both of which I would have ‘notorized’. I would be required to pay off the loan then wait for Maps Credit Union to release the Title. I am concerned that they will mail the Title to the seller. I don’t want to pass on a good deal on a dependable car, but I want to be as safe as possible. The seller is allowing me to have my mechanic inspect and test drive the car as a condition of sale. I have met and talked to the seller and seen the car. He is 24 and I am not sure he has thought this through as he is on vacaton this week. Maps Credit Union will only give me limited information as I am not on the account.

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One Response to “What Is The Risk Of Buying A Car From A Private Party Moving Out Of The Country W/lien Through A Credit Union?”

  1. Go with the flow says:

    Why don’t you call that credit union and ask for help with this?

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