Originally Posted by knova70
You dont need a copy of the title to get a loan?If he gets a loan for the car? He should be able to get cash for the purchase of the car on approval from the bank?Cash is the best way to deal!
The bank does not require a copy of the title up front. That is what the purchase agreement is for. Once they have approved the deal, they will require that the title be turned over to them to file for Lien. You will then get a copy of the title with the funding bank as lienholder.
NO bank, with the exception of some small, local credit union will give you cash. The bank check will act as a paper trail for the bank and becomes an instrument of negotiation if they do not get the title from the buyer and/or seller.