My cousin is going to buy an IS, but the owner is still paying off the car and he does not own the title (he finance it through lexus).
How do we proceed to buy this vehicle since he does not have the title?
The owner will have to pay off the balance of the loan after your cousin gives him/her the money, but the seller won't be able to hand over the title to your cousin until he pays off his loan and Lexus mails him the title, so be very careful and make sure the person selling is not going to screw your cousin and just take his/her money. Make sure your cousin has the seller's contact information and an agreement that he will pay off the loan and transfer the title as soon as he gets it. It could take a couple weeks after your cousin pays for the title to be mailed to the seller from Lexus. Your cousin doesn't own the car until the title is signed into his/her name, so just be careful, like I said. If the seller is reliable, these transactions happen all the time. Not ideal, but doable.