Strange question about titles - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat


Lounge For casual talk about things unrelated to General Motors. In other words, off-topic stuff. And anything else that does not fit Section Description.

Reply
 
 
 
Thread Tools Search this Thread
Old 07-05-2003, 02:50 AM   #1
Senior Member
Posts like a Corvette
Thread Starter
 
Join Date: May 2003
Location: New Hampshire
Posts: 1,305
Thanks: 0
Thanked 0 Times in 0 Posts
Hailey is on a distinguished road
Default Strange question about titles

Are you supposed to get the title for a car you are still paying to a leinholder on? Isn't that supposed to come when you've paid it off? I ask because I didn't get the title to my old car until the bank loan was paid off, but I recently got the title to this one in the mail and we still owe nearly $17,000! There is a spot on it for a leinholder'* name, and for them to sign it over to you, but it is blank.
All this makes it look like we own it outright...is this a mistake or am I reading it wrong?
Hailey is offline   Reply With Quote
Old 07-05-2003, 03:37 AM   #2
Junior Member
Posts like a Ricer Type-R
 
Join Date: Aug 2002
Posts: 10
Thanks: 0
Thanked 0 Times in 0 Posts
willwren is on a distinguished road
Default

If it'* a genuine title, and no leinholder is listed, somebody goofed. Time to consult a lawyer! I'd bet if you stopped paying, they'd be able to nail you anyway, by proving the mistake, but that'* kinda cool to think about anyway!
willwren is offline   Reply With Quote
Old 07-05-2003, 10:39 AM   #3
Burgundy_Boat
Guest
 
Posts: n/a
Default

who knows bill... even if it was a mistake, she is still the title holder... definately talk to a lawyer, you could save yourself $17,000
  Reply With Quote
Old 07-05-2003, 12:18 PM   #4
Junior Member
 
Join Date: May 2002
Posts: 0
Thanks: 0
Thanked 0 Times in 0 Posts
SSEi95 is on a distinguished road
Default

I recently paid off my car and here is what I found out (this applies to MNonly, maybe other places too), I should have already had the title in my posestion. I didn't (most likely misplaced from a few years and 2 homes ago). What I got when I paid it off was a letter in the mail from the bank with ofically signed paperwork that stated I paid off the debt in it'* entierty. This would then allow me to go to the local DMV and have the bank'* name removed from the title as lien holder and issue a new title to me with the my name on it. I've heard that some places / states may have the lien holder keep the title until the loan is paid but as far as I knoe it doesn't matter who actually has the paperwork, it'* what'* in the DMV'* computer system that counts now.

So if the title still has the bank listed as a lien holder on it I would definatley keep paying as normal since legally they still "own the car" until you finish paying them off.

That make any sence?
SSEi95 is offline   Reply With Quote
Old 07-05-2003, 12:25 PM   #5
Senior Member
Posts like a Corvette
Thread Starter
 
Join Date: May 2003
Location: New Hampshire
Posts: 1,305
Thanks: 0
Thanked 0 Times in 0 Posts
Hailey is on a distinguished road
Default

You know, that'* what I thought. Before (with the old car) we had a piece of paper that said "This is not a title" until the car was paid off; this time we got the title...no leinholder, just our names.

I would never try to screw the bank out of the payments, but I do want to make sure our ownership is not somehow invalid because of the mistake. I knew there was something up when I kept getting a piece of paper from the state saying that I needed to give accurate information to recieve the title (on the original sale, the dealership messed up the VIN...it came up as a Buick. ). I tried fixing it and sending it back, but they just kept sending it to us...until we realized that the dealership had to sign it too. We called them and they got a copy and signed...no more problem (till we got the title in the mail :P ).

Oh, well. It is fun to think about.
Hailey is offline   Reply With Quote
 
 
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
Best worst country song titles dbeast420 Lounge 1 08-04-2006 07:51 PM
Salvage titles 1993bonnie General GM Chat 1 03-26-2005 11:50 PM
TITLES! DeathRat Lounge 17 10-05-2002 01:40 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 09:40 PM.


We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.