hey guys so this will be my first time buying a vehicle and i have a few questions
i bought carproof verified bc on the bike i was gonna buy
turns out there is a lien on it but it doesnt say if its paid off yet(should it say discharged if it was?) The seller bought it brand new so its not hard to believe that he might have financed it. im just worried that he didnt pay it all off yet.
heres what it says
******PPSA Security Agreement *******
reg date. APR 09 / 2007 Length 6 Years Expiry date APR 9/2013
Secured Party: Laurentian Bank Of Canada etc..
BAse Debtor : ASDJAEOAWIEUAWOIE
Minus a few details
i gave the bank a call and they said it couldve been paid off but they cant verify it becuase im not the seller. But they did say that if it was paid off there should be a release letter that the seller should have from the bank
Can anyone chime in here and tell me what a release letter looks like? i dont want him to give me a fake release letter and then im SOL
My plan is that he'll show me the letter and we verify it at the bank or i dont buy it period.
of course ill have a pre purchase inspection dont also but im more worried about this lien
any advise would be greatly appreciated