Quote:
Originally Posted by Table 5
Is it pretty new? Make sure there is no outstanding lean on the car. My dad once bought a one-year old car that was priced about 50% of the real value. He did a lean search on it, but apparently out of province leans weren't reported when searched in Alberta (or at that time they didnt). Turns out there was a lean on the car from Quebec....luckily enough he had traded it in by the time to a dealer, who had insurance on these types of matters.
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I am very surprised the dealer let him off the hook. In reality he was 100% responsible as it is the person trading it in who bears the responsibility for assuring the car is free of liens, as you sign a document declaring it to be 'lien free'. Never once have we missed it, as banks register the lien literally minutes after the loan is processed.
Also, there is no such insurance a dealer carries that protects them from vehicle liens. If there was it would be called stupidity insurance as searching a lien is as simple as copy, paste, search. I know, I do about 20 a week.