How should I buy a used car from a private seller who doesn't have the title yet? She's st

I have a Promissory Note from the seller and I really trust her, but I also want to be smart and protect myself as much as possible. We discussed having me send a cashier's check for the payoff amount of her auto loan (almost $6,000) to Chrysler Finance. Then Chrysler would send her the title which she would sign over to me. At that point, I would give her another cashier's check for the balance of the purchase price we have agreed to based on the current Kelly Blue Book value for a private seller. Is this the safest way to handle such a sale?

How should I buy a used car from a private seller who doesn't have the title yet? She's still making payments.aurora

Pooka, I don't understand your thought processes. This person is doing the safest thing possible. They are sending a cashier's check directly to Chrysler Financial, not to the woman. The balance will be paid upon receipt of the title. I would hope that he is in possession of the vehicle or at least has another key just in case she decides to thank him for the payoff and split. I doubt that will happen.

People buy and sell vehicles all the time while there is still money owed to a bank or financial institution. Yes, there has to be a certain amount of trust, and paperwork needs to be drawn up to cover all basis. Usually, it all goes pretty smoothly. The auto dealer in this case has absolutely nothing to do with private sales!