Buying a car in Wisconsin: what do I need to know

[Primalzer]

What do I need to know about buying a car in Wisconsin? The salesman was giving me a line about if the car is financed, it can't be titled in the Illinois, because he has to claim a lien on the car.

I know there is a few people that have bought cars, and there's a vendor on here that specializes in insurance and sales, can't remember her username...

Any help would be great. Thanks.

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[Bob Kazamakis]

Private or dealer? I assume dealer due to salesman

 

[Primalzer]

Yeah dealer

 

[Yaj Yak]

Finance it through your own source and tell them to get bent and bring a bank check.

 

[Yaj Yak]

Www.bcu.org did me right

 

[Bob Kazamakis]

They should be able to just give you a check for the amount or even print at dealer. You pay taxes in county you live in. Should be super easy

 

[Primalzer]

I'm probably going with Alliant, theyve treated me right before, and they've got good rates

 

[Primalzer]

Finance it through your own source and tell them to get bent and bring a bank check.

From what I've been reading, even with the bank check, they send the title straight to the CU...

 

[willizm]

KEep in mind that when you register the car here in Illinois that they will be taxing you for the value or sales price of the car. If you buy a brand new car or newer used car you're going to have a hefty tax bill.

The way I got around it when I bought my bimmer in Vegas private party was that I kept it registered for a year in Vegas before registering it in Illinois. If you've owned the car for more than a year out of state then you are not required to pay tax when you register it in Illinois.

 

[Dasfinc]

Below $15,000 is the magic number for private sale. Being a dealer, he's going to get smacked by tax no matter what I think.

 

[Primalzer]

Yeah, gonna get roasted on taxes...no doubt about that

 

[Flyn]

You should know the car will most likely smell like cheese and the passenger seat will be indented from excess weight on it.

 

[Yaj Yak]

From what I've been reading, even with the bank check, they send the title straight to the CU...

i guess i dont get your issue here at all.


i bought my 2013 pickup, from washington, it's registered to wisconsin, kept in illinois, and the credit union that it is financed through is in illinois...

my 2007 pickup was bought in alabama, and registered & financed in illinois.

who cares if the title gets sent to the credit union from the state? i guess i dont see the issue or what issue he is making up.

 

[Yaj Yak]

unless you're financing through the dealer, i dont see the issue. if it's a buy here pay here situation, i could... and that's why he wants "his lien" on the vehicle... but not if you finance it through somewhere else...

 

[SinisterSHO]

When I bought the g8 private party in Wisconsin, his finance company still mailed me the title, and when I registered it with the lien info on it, it was sent to my CU and I haven't seen it since.

 

[Primalzer]

i guess i dont get your issue here at all.


i bought my 2013 pickup, from washington, it's registered to wisconsin, kept in illinois, and the credit union that it is financed through is in illinois...

my 2007 pickup was bought in alabama, and registered & financed in illinois.

who cares if the title gets sent to the credit union from the state? i guess i dont see the issue or what issue he is making up.

Beginning July 30, 2012, state law requires the Wisconsin Department of Transportation (WisDOT) to send titles to the lien holder (lender). The owner will receive a Confirmation of Ownership document that provides the same information as a title but cannot be used to transfer ownership or record another lien. When all lien holders release their lien(s), you will receive a certificate of title.

I'm not sure if because it's being titled in Illinois this applies...or if my CU would hold a Wisconsin title, even though the car is being registered in Illinois...This would matter because I don't know if I would have to pay Illinois title transfer fees, etc, or if I'll have trouble registering in Illinois with a Wisconsin title.

 

[Yaj Yak]

I'm not sure if because it's being titled in Illinois this applies...or if my CU would hold a Wisconsin title, even though the car is being registered in Illinois...This would matter because I don't know if I would have to pay Illinois title transfer fees, etc, or if I'll have trouble registering in Illinois with a Wisconsin title.

you wouldn't have trouble registering in il with a wisco title.

i think they are making a deal over nothing.

your credit union would take get the title after you register it from the state of il, listed as the lienholder. easy peasy. done.

 

[Primalzer]

you wouldn't have trouble registering in il with a wisco title.

i think they are making a deal over nothing.

your credit union would take get the title after you register it from the state of il, listed as the lienholder. easy peasy. done.

OK cool, thanks! Yeah let's hope it's that easy! I just can never shake the thought that Illinois is somehow going to make this harder than it needs to be

 

[CuzzinOlaf]

I'm probably going with Alliant, theyve treated me right before, and they've got good rates

Shop the best rate online and go to BCU... they'll match it.

 

[Primalzer]

Shop the best rate online and go to BCU... they'll match it.

That's cool that BCU will match, and I'll keep it in mind, Alliant looks to be a few tenths better, I've had them before, and I bank with them too, so it'll be easier to go with Alliant this time around.

 

[Yaj Yak]

bcu was by far the easiest car loan i have ever gotten, and i dont bank with them

 

[Primalzer]

[MENTION=12474]Angela@KRWINS[/MENTION]

Would you be able to weigh in?

 

[Angela@KRWINS]

[MENTION=12474]Angela@KRWINS[/MENTION]

Would you be able to weigh in?

You should have no problem buying a car in Wisconsin but it should be registered in IL, unless you have a second property up in Cheesehead land. Also, I know that many of our clients have Dupage Credit Union as their loan company mpany for lower finance rates on older vehicles. That is a trend that I have seen from in the last few years.

Let me know if you have specific questions.

 

[Primalzer]

You should have no problem buying a car in Wisconsin but it should be registered in IL, unless you have a second property up in Cheesehead land. Also, I know that many of our clients have Dupage Credit Union as their loan company mpany for lower finance rates on older vehicles. That is a trend that I have seen from in the last few years.

Let me know if you have specific questions.

I shouldn't have any trouble at the Illinois DMV transfering my plates, paying taxes, and registering with just the bill of sale, right?

 

[Yaj Yak]

just bring the title with you it will be way easier.