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| I’m in unfamiliar territory and looking for advice. I’ve never sold or bought something with a lien on it.
One week ago I found a nice silage truck on Kijiji (Like Craigslist or FB marketplace).
We made a deal that day and shook on it. Then he tells me it has a lien on it to a leasing co. It’s about 20% of the value of the truck.
We wrote up a bill of sale. I left a deposit for a couple grand over what the lien is for with the condition of bringing a bank draft for the remainder when the title is free and clear and I pickup the truck.
Originally this process was supposed to take two, maybe three days tops.
Now the leasing co. has said this will take another 10 days or possibly more to release the lien.
He’s wanting to get this wrapped up as he has input lines coming due next week. Am I being unreasonable in wanting to wait till the title is free and clear to finish buying it?
I’ve never been in this situation and mostly deal at auction or dealers for vehicles.
Thanks. | |
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Buying a vehicle with a lien?
