Buying a boat from out of state with a lien on it

So I like in Chicago and was going to take a ride to Michigan tomorrow to look at a Supra that currently has a lien on it but need some info because I am not familiar with this. If all went well I was planning on purchasing boat and taking it home tomorrow but the credit union where the guy has the loan is closed on weekends. I threw out idea of going during the week but loan company said an out of state cashiers check takes 3-4 days to clear and that only way I could leave with title and boat was if i paid cash (which i dont want to walk out of a bank with that much cash). This has to have been done before numerous times before and how does it work? thanks

I was thinking a cashiers check was the same in any state. Seems odd. Well, when I did my out-of-state deal, I paid cash and yes it was scary having that much cash on me at one time, but the deal was worth it. Maybe yours is too.

I would say cash works, except from Chicago to Michigan means only one thing.... Gary, Indiana.... and with a pocket full of cash I would be nervous too.

well theres a tcf bank up there but i still feel weird about it. Cashiers check is held for a few days before its cashed...meaning no title.

Pay with the cashiers check, take the boat and have the title sent when the check clears.

X2 on what Kirk said, or just take cash. You won't look any different driving down the street with a wad of money in your pocket then you would with a check in your pocket.

Open an account at his bank, transfer the money to yours, then his and get a free toaster. If you have an account at both banks do wire fees apply both ways ? curious, I dont know. In house stamp fees will be waved for sure.

Man a toaster would be sweet haha. Think I'm just going during week and wiring money. The walking out of bank with that much money isn't going over good with me and even with bill of sale the hoping title gets sent would other me

X3 on what Kirk said I did this once selling my 95 supersport the guy brought me 18,500 cash on the weekend, he left with the boat and once the title was sent to me I just mailed it to him. Same thing but I used a cashiers check to buy my 24v and waited for the title to be sent to me.

Wire transfer is easy - probably cost you about 20 bucks.

Originally Posted by sidekicknicholas

I would say cash works, except from Chicago to Michigan means only one thing.... Gary, Indiana.... and with a pocket full of cash I would be nervous too.

Ha!

Take cash! It's easier to haggle on price when you're waving Benjamins in his face.
Why are you worried about carrying cash? Like others said, you won't look any different driving down the street with a pack of hundos in the glovebox.
Did you just get mugged recently? Or ever?

X2, you can get robbed with $2 in your pocket. Betta hide yo kids!

Just bought 05 supra 21 v today did wire transfer and it worked ok. Took little bit of time but worked