Found a great deal on a very low mileage 2016 F250 and need to strike fast to buy it.

I can pay cash for the vehicle but don't necessarily want to tie up that much cash in a vehicle. If I do pay cash, how easy is it to cash out refinance a paid off vehicle? Of course my bank doesn't finance private seller auto loans.

I've considered going out to RBFCU to secure a loan but I'm concerned that the timing won't work and the truck will sell.
Doesn't help that I'm 4 hours away from the truck and no RBFCU branches near the seller.

Any ideas?

Physical locations don't matter. All is done over the phone and web.

PenFed.org

Some banks will give you a loan against a CD or other cash deposits and the interest rate is pretty low, like 2% above what they are paying on the deposits. Way better than an auto loan

Humpit nailed it. Get 2 year cd. Ask for 2 year note on 5 year amortization. Pay 2% over what the bank is paying you. Profit.

Thanks for the help, I got it figured out.

Next question:

Vehicle has an out of state clear title. Truck just got to Texas and has never been registered here (person who owns vehicle is now living with relatives in Texas)

How is that going to screw up title process? Do they need to register the vehicle in Texas first?

I'd be sure to run a carfax

all you need is the the signed title by the seller (usually on the back marked as seller) and a signed texas title app 130U
Seller has to sign just like his name appears on title

if dead aunt Delta is on the title she has to sign too

If there was a lien listed be sure either the bank signed the title or he provides a release of lien from the bank

you will need to get it inspected at a Texas inspection station and take the passing paperwork with you to the tax office with the title, title app, and proof of insurance.
Pay the taxes and you'll get a texas title in the mail in 3-4 weeks

ywia

In reply to aggiepaintrain So, sounds like deceased grandpa needs to sign?

In reply to AggieP18

AggieP18 said:

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So, sounds like deceased grandpa needs to sign?

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slowly backing away……

he at least needed to sign the title, the 130u can actually not be signed just write out of state on the seller line.

If he didn't sign, you would need letters of testementary and the executor of the estate to sign it