[brian09]

What is a 2003 ZX5 SVT worth with a blown engine(hole in the block)? The body and interior are very clean, it has 94,000 miles. I bought the car cheap but when I went to title it the BMV says there is a lien that has to be paid before it can be titled in my name. I haven't been able to contact the seller. So I'm trying to figure out if I should pay the lien or just part the car out and look for a different SVT.

 

[whimsicalpouch2]

depends on how much you love the car and how much you want to spend on a new engine.

 

[brian09]

I love the car! I got it for $675 (great deal I thought) but the lien is $2000. I just don't know about being $2675 into it and still need an engine. Just wanted to get a few opinions.

 

[CaysE]

So you bought the car without a title?

 

[benkap]

An investment of $4475 for an SVT with a new motor and clean title isn't bad, but that assumes you can put in your own motor.

A parts car for $675 isn't bad either, considering theres $500 + in the interior alone.

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[brian09]

The guy gave me the title (Illinois title) . When I went to title it in Indiana then vin search came back as it as having lien on it. Not sure if it's a mechanics lien or what. I have to find out how to pay it off if I want to keep the car with out getting screwed!

 

[CaysE]

Is the seller's name and address on the title? This sounds like some legal action is necessary.

 

[Dirt17]

I agree. That should have been disclosed at the time of the sale.. I still think you could part it out and double your money maybe more though

 

[brian09]

Yes I have his name and address. I googled the address an it comes up on foreclosure listings and it seems like his phone is no longer in service. Legal action might cost me the same as paying the lien off and would probally take a lot longer. So back to original decision pay it off and build it or part?????

 

[CaysE]

What I mean is that you could end up in a legal battle no matter what happens. If there's a lien on the car, technically you don't entirely own it, right?

 

[brian09]

According to the girl at the BMV if I pay for a title search and get the lien holders info and pay it off and have a lien release signed and proof of purchase (bill of sale) I could then get it titled in my name.

 

[Grinder]

Things differ state to state but usually, if the vehicle has a lien it's because the title holder still owes money on it. The lienholder's name should be printed on the title.....which means THEY are the ones who have ownership of the vehicle.

Sounds like you just gave some dude $700 bucks and can expect the bank to come repo the car unless the lien is payed off by yourself or by dude.

So.... once you are about $2700 in this thing and then another $1500 or so to get a motor in... you are still not doing horrible if it's a nice driver...

 

[brian09]

The title didn't list any lien holder. What I'm guessing happened is that he had it towed some where when he blew the motor and had it looked at and never paid the shop so they put a mechanics lien on it. Not sure how he would have got the car back from them? Won't know for sure until the title search comes back later this week.

 

[brian09]

Got the lien release and all of the paper work taken care. The car is officially mine now. Hope to be picking up the engine for it on Monday!

 

[spike8807]

Nice good luck on the build

 

[spike8807]

Nice good luck on the build [wrenchin]

 

[dirtbrown]

pictures would be nice....wanna see if you came up or not.