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Car buying help?

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Car buying help?

Old 01-08-05, 03:54 PM
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Car buying help?

I was hoping someone could help me. I've just bought a new car and traded in my old car. However, the odometer on my old car is broken. So they had me fill out an "Odometer Discrepancy Disclosure Statement." However, the title on the car is under my dad's name, and they need his signature on that disclosure statement. He is out of the country and the only way for him to sign that form is if they mail it to him and he mails it back to them, but that poses a problem since they're needing that form soon (they say that until they have that form, they can't register the car under my name.)

However, the finance guy at the dealership said that he'd buy the car himself and asked that I come in on Monday. He said that since the title was already signed over by my dad, he's not going to need any kind of discrepancy forms. Does this sound right? I don't want to be held liable for the car and its mileage after it's been sold. Can someone help me and see if this is ok? Thanks...
Old 01-08-05, 04:00 PM
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Why not use some jedi mind tricks?
Old 01-08-05, 04:08 PM
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haha i tried. waved my hands and everything.
Old 01-08-05, 04:55 PM
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My guess (and this is all it is) is that a dealership needs one of those forms, but a private party probably does not. So they have a way around it by him buying it rather than the dealership.
Old 01-08-05, 05:15 PM
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Can they fax it to him and accept a faxed signature?

Or can you sign for him? As long as the other person gives you permission, it's legal. You usually sign "by Your Name" at the end. They do it all the time for mortgages when only one spouse is present. Although, in that case there's something long that has to be written after, like "by Your Name with nondurable power of attorney wherein, blah blah blah"

Last edited by matta; 01-08-05 at 05:23 PM.
Old 01-08-05, 05:29 PM
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This won't be helpful, but if you traded your car in to the dealership and bought a new car, you already got screwed. Anyway - I don't see anything wrong with having the guy buy it from you.
Old 01-08-05, 05:42 PM
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Originally Posted by matta
Can they fax it to him and accept a faxed signature?

Or can you sign for him? As long as the other person gives you permission, it's legal. You usually sign "by Your Name" at the end. They do it all the time for mortgages when only one spouse is present. Although, in that case there's something long that has to be written after, like "by Your Name with nondurable power of attorney wherein, blah blah blah"
they can't fax it to him because the form is one of those carbon copy forms. also it looks like there's a notary public that's needed.

i just wanna make sure it's ok to sell it to the guy and not be held liable for anything once it's done. thanks again.
Old 01-08-05, 06:53 PM
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Originally Posted by JediMindTricks
they can't fax it to him because the form is one of those carbon copy forms. also it looks like there's a notary public that's needed.

i just wanna make sure it's ok to sell it to the guy and not be held liable for anything once it's done. thanks again.
What about signing his name with permission? It will avoid tax. You pay tax on the difference between a trade-in and the new car. So, if you bought a $20,000, and your trade-in was $10,000, you pay the TX 6.25% car tax on $10,000, or $625.

But, if you buy a car, and sell your car to someone else, you pay taxes on the entire new car. So, under the same example, you'd pay 6.25% on $20,000, or $1250.

Sounds like if you do it his way, you'll be out the difference in the tax.
Old 01-09-05, 12:21 AM
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Originally Posted by Trigger
This won't be helpful, but if you traded your car in to the dealership and bought a new car, you already got screwed. Anyway - I don't see anything wrong with having the guy buy it from you.
Just what I was thinking, if the finance is willing to buy the car personally from you, you can bet that you didnt' get enough for it.

If it's not too late (that is, you still have the title), sell it on your own, you'll get more. Sure, your car loan will be for more, but just put whatever you sell the car for against the loan (which will shorten the loan), or just refinance with a bank or credit union.

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