Hey Guys!

In the CARFAX report it is written

Title #540662 Title issued or updated
Loan or lien reported
CARFAX Xpert
If you are buying this vehicle from a private seller, check to be sure any associated lien on the vehicle has been paid off.   

From the CARFAX report I came to know that in the first owner's history a Loan is reported. I am planing to buy the car from the Second owner. I don't know who is the first owner. Is it good to buy this car or not? Does this cause any trouble for me in future If I buy from a second owner? In the second owner's history loan is not reported.

I am looking forward to your help and would appreciate it.

thanks,

Uttam

 

if it is the case of only loan/lease record, then there will be no problem to buy that car, which means the car was purrchased on loan and used as a leased vehicle.

but if the title is duplicate, then i suggest you not to buy that car.

hope this will help you.

 

It implies that the first owner had bought the car through finance (taking loan) and is used as private car, not the rental car. Don't get confused the loan reported with lease one. The second owner bought the car and used it. So you will have no problem regarding title, regarding condition u may have checked. So it does not matter who is the first owner.

Loan or lien reported
CARFAX Xpert If you are buying this vehicle from a private seller, check to be sure any associated lien on the vehicle has been paid off.
 This is written only if you were buying from the first owner. If you were buying from a person who had taken car through loan, then only you need to see whether the loan has been paid off. Since someone already bought it and now its your turn, you don't need to worry. So regarding registration or paperwork you will have no problem in future.

Thanks  Lanthus and  arcane for your great help.

Uttam