Buying Advice Buying used L3200, any paper work?

[vicory]

I've decided to purchase the used L3200 with 242 hours, quick disconnect loader and bucket, loaded R1 tires. Get a few extras but I was wondering, since it's used and the original owner financed it through Kubota, is there any paper work needed to complete the sale? No title transfer from what I've learned but if I buy it, what if he doesn't pay off the remaining loan balance? Got to thinking about this and wondered what information the experts on the forum, who have traded more than I in tractors, might have on this issue. There's still a few weeks of warranty on the tractor and the price is good at $12,900, just want to make sure I can transfer the remaining warranty etc... Plan to go to dealer who sold the tractor tomorrow to discuss. However, any thoughts or advise would be appreciated.

 

[rbarker]

I've decided to purchase the used L3200 with 242 hours, quick disconnect loader and bucket, loaded R1 tires. Get a few extras but I was wondering, since it's used and the original owner financed it through Kubota, is there any paper work needed to complete the sale? No title transfer from what I've learned but if I buy it, what if he doesn't pay off the remaining loan balance? Got to thinking about this and wondered what information the experts on the forum, who have traded more than I in tractors, might have on this issue. There's still a few weeks of warranty on the tractor and the price is good at $12,900, just want to make sure I can transfer the remaining warranty etc... Plan to go to dealer who sold the tractor tomorrow to discuss. However, any thoughts or advise would be appreciated.

I would definitely want to clear that up before I did anything. I suspect Kubota still has legal rights to the tractor even though there is no title per say. Disclaimer: I am not a lawyer nor did I ever play one on TV!

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[JOHNTHOMAS]

I have traded alot and in Ky.
Kubota records a lien in Frankfort, not in the County Courthouse. The selling Dealer actually handled this if sold in Ky. The dealer can access the web site or tell you how to ensure the lien has been released. He can also look on Kubotas web site and see if the lien has been released or the debt paid and balance with contract number. The seller will also receive their original loan contract/document back from Kubota when the loan is paid off, I rec'd one last month or this month for a F3080 paid off last month.
I sold a Kubota last fall and I'll make the final payoff payment on it in June 2014.

 

[rbarker]

I have traded alot and in Ky. Kubota records a lien in Frankfort, not in the County Courthouse. The selling Dealer actually handled this if sold in Ky. The dealer can access the web site or tell you how to ensure the lien has been released. He can also look on Kubotas web site and see if the lien has been released or the debt paid and balance with contract number. The seller will also receive their original loan contract/document back from Kubota when the loan is paid off, I rec'd one last month or this month for a F3080 paid off last month. I sold a Kubota last fall and I'll make the final payoff payment on it in June 2014.

The purchase agreement that I signed here in Massachusetts gives Kubota rights of repossession and clearly states that the equipment cannot be sold without written permission from Kubota. That's what I would be looking for if I were purchasing a tractor with a lien due on it.

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