Boxster No Title

[Vza]

Well....I'm gona purchase a neglected '08 Boxster W/O a title. Did some research ....DMV said there was a Lien on it but said most likely the owner didn't do the paperwork to retitle it under his name after the loan was released. I called Porsche finance and with the VIN they said they released the loan in 2014. So, I'm thinking most likely the owner just never had the car retitled. There is a possibility the car was sold again as used and financed but I think not likely. Anyone know if a lien holder will hold me responsible for the balance if the car, for the most part is totaled. Needs all new paint , front bumper , body work, etc. Any thoughts on this. Thanks Vince

[Stl-986]

are you going to fix it up for a driver, turn it into a track car or part it out?

It really depends on your state laws for both buying & selling. I would have the highway patrol run the vin, just in case before you buy it. If stolen you sure dont want to pay someone else and then lose the whole car. The DMV may tell you who the lien holder is and then you can contact them to see if it's been paid off. If not, I would walk away no matter what. Could turn into a legal battle. Some junk yards are required to get the title, some just a bill of sale and some nothing depending on how old it is. Check your state laws. For example in MO the seller is required to provide a title, bill of sale for in state is not acceptable. Seller is also required to have both safety and emission testing done but a junk yard can take any car older then 12 years without any paperwork at all. Go figure.

[Vza]

Yes...I checked.. not stolen. Bill of Sale good in my state. I was planning on fixing it up and retitle.

[Stl-986]

If the last title was in NJ with a lien it might be an issue. I would title it in Vermont. You send them the bill of sale and they send you a title & plates

[maytag]

to answer the first question: Yes. if there is an active lien on the car, then when you title / register it in your name, the lien-holder will require satisfaction of the lien. They won't care what condition it was in when you got the car, they'd look at the property now and expect it to be used to satisfy their interests in it.... which is exactly the purpose of a lien.

The DMV should be able to get you the lien-holder's name and contact info. You can get them to send you a lien-release, showing their lien has been satisfied. I'd consider that Gold. without it, I wouldn't spend a DIME on the car.

I've personally been through this process myself, and it turned-out just fine for me. The lien shown at the DMV was an old one, satisfied long-previously.

But I'd be sure I get everything lined-up in a row before I spent any money I wasn't prepared to part with.

[Vza]

Really is bass ackwards the way the system works. DMV will not release any info unless you have a bill of sale. So essentially one has to make the purchase blindly before they let you know there are lien holders attached. Whats this business about Vermont...don't I have to have an address in Vt to title it there??

[Stl-986]

Nope, they dont require you to have an address or even be a resident. Car has to be a certain age.

You could just make a bill of sale and then take it in to get the lien info, how do they know you actually bought the car or not.

[husker boxster]

Sounds like that Boxster I listed in the 'What I Found on CL' thread. If it is, best of luck. That one looked like a hand full.

And this coming from someone who took on an almost dead and buried 928.

[Stl-986]

Is that the one that was found at a junk yard that had someone do a very bad paint job on? Thought that was a 987.

[husker boxster]

Originally Posted by Stl-986

Is that the one that was found at a junk yard that had someone do a very bad paint job on? Thought that was a 987.

Yes, it was a titleless 08 (which would be a 987) in NJ that was white but painted satan, I mean satin black, and had a punch in the front bumper. Fits the desc the OP gave.

Hopefully he's getting a great deal.

[Vza]

Well....yes thats my new Boxster!!

[Rob175]

Hate to say but it could be a "money pit"....hopefully not. Kinda depends on how far you want to go with it's resurrection.........keep us posted and good luck with the project.