UPDATE -Does anyone know this 4.6is? No clean title :(

[crystalworks]

Originally Posted by sunny5280

I understand that's what you would do and apparently have done. If you're comfortable buying a vehicle this way that's fine. However you're offering advice to others. Advice that carries risk. I think it important to point out that merely having a solid, written contract does not negate the risk.

You can NEVER negate risk on any transaction, under any circumstance. Just ask mortgage lenders. Plenty of triple A rated loans folded in 2008-2012.

Originally Posted by sunny5280

Having said that: How do we know there's not a lien against the vehicle? You're assuming everything is as it appears and there are no hidden gotchas. Despite UpAllNights commentary the likely reason it takes weeks to receive a title is because the DMV is performing a "title search" to ensure everything is in order.

THERE IS NO LIEN! AV8R has seen the title. It very clearly states on it if there is a lien on the vehicle.

The only problem here is that the seller did not register the vehicle in his name, for whatever reason... and so does not have a clear title.

Originally Posted by sunny5280

Furthermore much of the concern is not with the seller but rather the individual who sold the seller the vehicle. Since the title isn't in the the sellers name there could be an issue with the transaction between the seller and who he bought the vehicle from. The seller is likely acting in good faith but he may find he's on the wrong end of a bad transaction. At this point he may decide to wash his hands of it and let the OP straighten out that mess.

There is no mess... seller bought the vehicle and never registered it. He has the title and most likely (though not required) a bill of sale. As long as the VIN on the title matches the VIN on the vehicle... there is no mess, or funny business afoot.

Originally Posted by sunny5280

But let's assume for the moment the seller wouldn't do that. What if the OP, purchased the vehicle as you had recommended, and had to return the vehicle? The seller, being an honest individual, is fine with returning all of the OPs money in exchange for the return of the vehicle. Sounds simple and straightforward...right? That is until we discover the OP has had to make repairs to the vehicle. Then what? Is the OP reimbursed for the repairs by the seller? What if the OP performs routine maintenance and has to return the vehicle? Is he reimbursed for this maintenance by the seller? What if the OP is involved with an accident in the vehicle and the transaction has to be unwound?

Do you consider these situations in your contracts? It appears as if you have not. This example assumes both buyer and seller have every intention of honoring the contract. But it illustrates, even with the best of intentions, things can become sticky despite those best intentions.

There is no reason to consider any of those circumstances. When you buy a new car and then wreck it... you don't go back to the dealership and try to negotiate getting your money back or repairs. If you buy a used car at a car dealership stickered "as is no warranty" and you then make repairs you eat those costs, the dealership isn't going to reimburse you or refund you. Dealerships use contracts for a reason as well... because they stand up in court.

BTW, in both of those cases (new or used car purchase at a dealer) you aren't going to get the title immediately. You are still going to have to wait for it to come in the mail, trusting that the dealership will register for you, but you still drive off with the vehicle. This is the same process I describe, except with an individual vs. a dealership.

Originally Posted by Joshdub

Does Colorado have some weird law where in a private party sale the buyer has a return period?

I don't know... I'm extremely confused as well at the considering of the described method of purchase being somehow extremely risky or out of the ordinary... it's not as quick as buying a car with a clear title... but that's about it.

AV8R... sorry this discussion has gone sideways, I was trying to give you advice that might help you secure the vehicle without worry of it being sold out from under you, having the seller wreck it while waiting for the title, or some other unforeseen occurrence that would keep you from getting the X5. The method I describe is nothing new or out of the ordinary. I offered it as a suggestion because it fit the situation you were asking about. Glad the better half looks like she will enjoy the vehicle! It looks to be solid from the pics and your descriptions of it.