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R56 HUH????30 day pay off??????

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Old Sep 8, 2008 | 12:33 PM
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matty125
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HUH????30 day pay off??????

What is meant when a bank says they need to know what the "30 day pay off amount," is in referrence to me buying a car from someone? I looked online and cannot figure it out!!!
 
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Old Sep 8, 2008 | 12:37 PM
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Hellion
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They need to know what the current owner of the vehicle owes on the car in a 30 day period.

As interest calculations change day to day in the year of a loan.
 
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Old Sep 8, 2008 | 12:43 PM
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Most banks only need a 10 day payoff, but you can also just ask for the per diem, then add however many days till you can hand them cash or certified funds.
 
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Old Sep 8, 2008 | 12:49 PM
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matty125
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Cool, thanks for the answer guys
 
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