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Buying 2006 Peterbilt C15 626k miles 18speed

Discussion in 'Ask An Owner Operator' started by jimmi2001, Mar 24, 2015.

  1. Mar 24, 2015 #1
    jimmi2001

    jimmi2001 Bobtail Member

    28
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    Jan 28, 2015
    0
    Hey guys, doing the serious check on a truck a guy is selling from the company he is associated with. Pete 2006 C15 475hp, 629k miles on it 18speed. The owner says the truck is his but the title is still under the company he works associated with. I told him I can only write check to whomever is on the title, and they will have to sign the title and the papers to me, correct?

    What are things to look out for on this sort of purchase from private owner, but the title is under the company? Is this a common thing? The truck looks solid, hooking to computer tomorrow morning.

    Any info is grately appreciated!

    Thanks in advance.
     
    jimmi2001, Mar 24, 2015
    jimmi2001, Mar 24, 2015
    #1
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  3. Mar 24, 2015 #2
    315wheelbase

    315wheelbase Heavy Load Member

    783
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    Oct 26, 2014
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    Not a bad truck, ask if the engine has a bearing change out, check the trans and ask to see maintenance records,,DOT says they have to have a maint file,at 600K a good thing to do,,as far as the purchase do not pay a dime until you see a clear title,,if the title is titled to someone other than the seller then you have to meet in person and pay them for the truck,,be very carefull don't get swindled..would be worth getting a title check from the DMV,,make sure if it is in a companies name the person signing the title over is a legitimate officer of the company and the check is made out to the company
     
    315wheelbase, Mar 24, 2015
    315wheelbase, Mar 24, 2015
    #2
  4. Mar 24, 2015 #3
    fortycalglock

    fortycalglock Road Train Member

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    Jun 25, 2011
    Tourist Town, FL
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    Is he the owner of the company? A quick search of the state's corporation website should give you the officers or very least their registered agents to contact the officers. If he's not an officer, I would not deal unless he has the title transferred to his name first. If it's his company and he's the president, that's a different story. I would do the deal at the DMV regardless to eliminate any titling issues.
     
    fortycalglock, Mar 24, 2015
    fortycalglock, Mar 24, 2015
    #3
    jimmi2001 Thanks this.
  5. Mar 25, 2015 #4
    jimmi2001

    jimmi2001 Bobtail Member

    28
    1
    Jan 28, 2015
    0
    Yes the purchase and transaction is happening right at the company who's name is on the title, no funny business there. I think he bought the truck, and didn't want to bother with registering the title under his own name or company, so he left it with the firm and kept working for them (at least that is the only sense I can make of it).
    My concern is if HE signed that title, I'm not buying it unless he does a formal title transfer to his name. Only the name of the company should show on the title, and his name should not show anywhere not even signatures. Otherwise there is a missing link on the truck's ownership and DMV has to put an open request for any claims on liens on the vehicle for I think 6 months.
     
    jimmi2001, Mar 25, 2015
    jimmi2001, Mar 25, 2015
    #4
  7. Mar 25, 2015 #5
    black_dog106

    black_dog106 Road Train Member

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    Mar 29, 2009
    MA
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    Hi Jimmi: As these guys have said, be careful. A very odd sounding deal, here. I believe an owner, president, etc of the company that owns the truck would have to sign truck over? Do a title search. When I bought last truck, the guy "couldn't find the title". I don't remember the details of getting the title search, but getting the search done showed a lean against the truck. Explained why he didn't have title. Ended up getting the truck, but that is another story.
    I hope you have found a good truck at a decent price. To me, this sale sounds very questionable. You know that and are proceeding cautiously, as you should be... Best of luck
     
    black_dog106, Mar 25, 2015
    black_dog106, Mar 25, 2015
    #5
  8. Mar 25, 2015 #6
    fortycalglock

    fortycalglock Road Train Member

    6,120
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    Jun 25, 2011
    Tourist Town, FL
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    Okay, he probably did a lease purchase deal from the company. He cannot sign the title. An officer of the company must sign the title, unless the company is fairly big and they have a designated employee that has power of attorney to handle titling matters. (Hint, it won't be the driver)You'll want a copy of that, too.
     
    fortycalglock, Mar 25, 2015
    fortycalglock, Mar 25, 2015
    #6
    jimmi2001 Thanks this.
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