Blueridge Posted August 10, 2012 Share Posted August 10, 2012 (edited) If you purchase a vehicle from an individual who does not own it outright, but who is making payments on it, when are you supposed to get the title for that vehicle? When you pay them? After they pay off their loan on the vehicle? ETA: UPDATE in post 16!!!!! Edited August 17, 2012 by Blueridge good news! Quote Link to comment Share on other sites More sharing options...
Catwoman Posted August 10, 2012 Share Posted August 10, 2012 Make sure there is a clear title before any money exchanges hands! Quote Link to comment Share on other sites More sharing options...
gingersmom Posted August 10, 2012 Share Posted August 10, 2012 How can you sell something you don't even own? When it is paid off the bank is going to mail the title to the car owner. Quote Link to comment Share on other sites More sharing options...
Georgiana Daniels Posted August 10, 2012 Share Posted August 10, 2012 When a vehicle is paid off, the lender sends the owner a lien release, which the owner then takes to the MVD. In turn, the MVD issues a duplicate title, the owner signs the back side of said title, then can give the title to the person they're selling the car to. That person then becomes the new legal owner. It's very unusual (I think) for a person to privately sell a car they don't own outright. Generally, those vehicles are sold as a trade-in at a car lot and the dealership takes care of the title work behind the scenes. Quote Link to comment Share on other sites More sharing options...
Georgiana Daniels Posted August 10, 2012 Share Posted August 10, 2012 And I wouldn't buy a car from someone who still owed money on it, because if there's some kind of hold up in the lender getting the lean release sent out, then you've already forked out the cash and have nothing to show for it. Too many variables for my comfort level. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted August 10, 2012 Share Posted August 10, 2012 And I wouldn't buy a car from someone who still owed money on it, because if there's some kind of hold up in the lender getting the lean release sent out, then you've already forked out the cash and have nothing to show for it. Too many variables for my comfort level. We always buy used cars, but we don't buy from individuals unless they can show us the title. I've seen/heard of too many people getting scammed because of title issues, even if they were well intentioned at the beginning. Quote Link to comment Share on other sites More sharing options...
Blueridge Posted August 10, 2012 Author Share Posted August 10, 2012 Thank you. I am wondering if we've been scammed...I'm too hurt and embarrassed to detail it here. :crying: Quote Link to comment Share on other sites More sharing options...
Reflections Posted August 10, 2012 Share Posted August 10, 2012 Thank you. I am wondering if we've been scammed...I'm too hurt and embarrassed to detail it here. :crying: :grouphug: While I can understand that, the 'mom' in me says, I can't help you if you don't tell me everything. I hope you can work it out. :grouphug: Quote Link to comment Share on other sites More sharing options...
Annie G Posted August 10, 2012 Share Posted August 10, 2012 Thank you. I am wondering if we've been scammed...I'm too hurt and embarrassed to detail it here. :crying: Maybe not- I'm sure there are folks who pay off the vehicle and then send the title to the buyer when they get it. Is it just a time thing that makes you nervous, or something else? I hope this works out for you! Quote Link to comment Share on other sites More sharing options...
Kakids Posted August 10, 2012 Share Posted August 10, 2012 In that type of situation I would only proceed if I could go with them to the bank for the loan to be paid off with my purchase. The bank should be able to sign off on the lien and I could get my title. I personally wouldn't trust someone to take my money and send me a title later. I know that in these times of online banking the loan may not be with a local bank, and I don't know what would make me comfortable to purchase in that situation. Quote Link to comment Share on other sites More sharing options...
Blueridge Posted August 10, 2012 Author Share Posted August 10, 2012 (edited) . Edited August 11, 2012 by Blueridge Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted August 10, 2012 Share Posted August 10, 2012 If you purchase a vehicle from an individual who does not own it outright, but who is making payments on it, when are you supposed to get the title for that vehicle? When you pay them? After they pay off their loan on the vehicle? UPDATE IN POST 11. You never purchase from someone who doesn't own the vehicle outright. No title, no money. Quote Link to comment Share on other sites More sharing options...
Mommyof4ks Posted August 10, 2012 Share Posted August 10, 2012 Have you mentioned having your lawyer contact them about the matter if it is not resolved by X date? That usually works. I would then call and talk to a lawyer to see what your rights are. Why the CU cut them a personal check is beyond me! One loan pays of another loan all the time, so they should have cut you a check to send to the company who was financing the trailer. We have done that before. No money should have gone directly to the owners unless there was excess above the loan amount that was being paid off. I really hope you can get this straightened out! Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted August 10, 2012 Share Posted August 10, 2012 OK. I'm done crying (again) and I need to talk this out. Sorry I was being evasive and stupid. Here goes. Please don't make me cry again. :tongue_smilie: I'll try to be brief. I recognize the potential red flags everywhere, but I need to know our options at this point...We looked for many months for a travel trailer that we could afford, one that was big enough for our family and yet light enough for our Expedition to haul. Dh found one locally (45 minutes from home) on Craigs List. It was a good price range, looked almost new, but I thought it odd that the people had a New York phone number. He called, they answered and promptly sent us additional pics. We slept on it and called the next day to go see it. They were out in the country, seemed to nice, the woman was dressed very conservatively, former homeschool family for goodness sake. She spoke candidly about their new life here after moving from up north. We looked at the camper, it wasn't perfect but we hadn't seen anything anywhere close for that price and its features. We liked the people so much. They invited us in for a chat, acted so sweet. They offered to hold it for us while we discussed it, and we left. We decided to buy it that afternoon, called them, they said it would be ready to pick up. They gave dh their loan number, out-of-state finance company info, for their loan to pay off the trailer. That was the first that we had heard that they owed money on it. Dh was pre-approved at our c.u., he went the next day with the contract, they cut a check...in the people's name (and not adding their finance co. name, too). We both felt very uncomfortable about that, but that's what our credit union did. We went back to their home, they acted a little *strange* that we had brought them a check to pay their finance company off with :confused:. That had me worried. I guess they thought our credit union was going to do all that for them or something. They started mentioning 'small issues' like broken bathroom fan and that we needed to get our own 30 amp cord and we would need to get this and that, and frankly he wasn't as nice this time. She seemed, well, nervous. The man got it hitched up, even drove dh home since he had never pulled a trailer, and she drove me home behind them. We had a short visit at home before they left. They said they would get their loan paid off and get the title to us. That was July 1. We waited almost a month...no title. Dh called and she sounded so apologetic, didn't understand the hold-up, and promised to call their finance co.. Another week passed and she called me to say their finance co. was releasing the title on July 25. Still no title came. Waited till a few days ago and dh called her again, and she was apologetic and saying she was going to have to get her finance co. to send them some document they would have to sign in order for them to clear the title...she was talking fast and too many details and very confusing. She said the finance co. didn't have the title, and she doesn't have it, either. The document would be needed when (and if) she went to the DMV to get a new title...on and on it has gone. We are heartsick that the trailer sits in the driveway with no tags. For all we know they've spent our money and we will never see the title unless our bank goes after them legally. I want to throw up. We're too old to be this stupid. :001_huh: You aren't finished yet. Don't wait for them to go to the finance company. YOU contact the finance company Monday morning, and indicate what happened. You did get the Loan information from the Seller? You need it all. If you did not, call and explain this to the legal department of the Finance company, and maybe someone will take pity on you and at least tell you if they have received money on that account. Maybe this isn't as bad as it looks, and the title actually IS on the way. If not, you need an attorney to sue these people for breach of contract to recover your money. You know where they live. It's likely a small claims action (is it over say 5 or 10,000, whatever your state limit is?) You now realize you did this wrong, but you will never make THAT mistake again! ;) I always say that I make mistakes, but I never make the same one twice. Next time, find someone with title. :tongue_smilie: It will all be ok. They can't just take your money, and not give you a title, without it being legally actionable. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted August 10, 2012 Share Posted August 10, 2012 Have you mentioned having your lawyer contact them about the matter if it is not resolved by X date? That usually works. I would then call and talk to a lawyer to see what your rights are. Why the CU cut them a personal check is beyond me! One loan pays of another loan all the time, so they should have cut you a check to send to the company who was financing the trailer. We have done that before. No money should have gone directly to the owners unless there was excess above the loan amount that was being paid off. I really hope you can get this straightened out! Yes, have you contacted your CU, it's on them as well I would think. Don't be embarrassed about this. We want to trust people, but that's sometimes bites us back. I hope it all works out. :grouphug: Quote Link to comment Share on other sites More sharing options...
Blueridge Posted August 17, 2012 Author Share Posted August 17, 2012 (edited) I am SO EXCITED to be posting an update!!!!! Finally, thank the Lord, just today we've received *in writing* the proof that the people did indeed pay off the trailer. This afternoon they are meeting us at the DMV to get their title signed over to us. You can imagine all the scenarios I concocted while we've waited...I just knew that they had spent all our money and were packing to leave on an extended European tour...or that they were involved with the mafia...or that a sheriff was going to drive up our driveway any minute to confiscate the 'stolen property'. :lol: Unfortunately, any of those things could have happened. :tongue_smilie: I am so very thankful that it worked out peacefully. I am jumping for joy. ETA: Dh just met the sellers at the DMV and they had gotten an updated title and *signed it over to us*!!!!! Edited August 17, 2012 by Blueridge Quote Link to comment Share on other sites More sharing options...
melissad2 Posted August 17, 2012 Share Posted August 17, 2012 :party: FWIW, I would buy a vehicle that someone still owed money on. I would just go to the bank with them pay off the loan and get the title then. In fact we have a travel trailer for sale right now on Craigslist that we still owe money on but we need a bigger one and we are hoping to make more than the dealership wants to give us for a trade. Quote Link to comment Share on other sites More sharing options...
ErinE Posted August 17, 2012 Share Posted August 17, 2012 Thank goodness! Quote Link to comment Share on other sites More sharing options...
Blueridge Posted August 17, 2012 Author Share Posted August 17, 2012 :party: Major lessons learned!! So excited!! Quote Link to comment Share on other sites More sharing options...
Catwoman Posted August 17, 2012 Share Posted August 17, 2012 :party: :party: :party: I am so relieved for you!!!!!!!!!!!! Thank goodness it all worked out so well for you, and that the people turned out to be honest. It's such a shame that we don't feel we can trust people any more, but there are so many scammers out there, that it really ruins things for the honest people. I am so happy that all is well -- it's a horrible thing to think you have been ripped off. It's not even as much about the money as it is about the emotion of the whole thing. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted August 17, 2012 Share Posted August 17, 2012 I'm glad it all worked out for you. I'm sure they must be relieved too. Quote Link to comment Share on other sites More sharing options...
Jpoy85 Posted August 17, 2012 Share Posted August 17, 2012 Thats GREAT that it worked out!! :D Quote Link to comment Share on other sites More sharing options...
Reflections Posted August 17, 2012 Share Posted August 17, 2012 That is just super news!!!! I am so excited it all worked out! :001_smile: Quote Link to comment Share on other sites More sharing options...
Hen Posted August 17, 2012 Share Posted August 17, 2012 I'm so glad it worked out! yay! Quote Link to comment Share on other sites More sharing options...
Mommyof4ks Posted August 17, 2012 Share Posted August 17, 2012 So glad to hear that worked out!!!! Quote Link to comment Share on other sites More sharing options...
Kathryn Posted August 17, 2012 Share Posted August 17, 2012 I'm so glad it worked out! Quote Link to comment Share on other sites More sharing options...
Dobela Posted August 18, 2012 Share Posted August 18, 2012 I am so glad it worked out! FWIW, I recently gave a car to someone and the title was so messed up by the finance company before they sent it to me that we have now been working OVER A MONTH to get a new, duplicate title so the new family can get tags. It has been one of the most absurd things I have ever been thru. I have had to provide all kinds of documents, including my marriage license, and we still do not have a correct, duplicate title. All because the finance company employee did not do their job correctly. Quote Link to comment Share on other sites More sharing options...
Blueridge Posted August 18, 2012 Author Share Posted August 18, 2012 Thank you all for holding my hand while I fretted about it all. I was so humiliated and appreciate not being judged here. :) I am sitting here looking at the title, and am still in a bit of a fog about it. It truly was a very difficult time, because I really wanted to believe that they were as sweet as I thought they were. So thankful! We went out tonight and bought some RV toilet paper and new toothbrushes for it (what a fancy purchase :lol:), and are planning our first short trip next weekend!!!! Quote Link to comment Share on other sites More sharing options...
nukeswife Posted August 18, 2012 Share Posted August 18, 2012 I'm glad it all worked out. Sometimes things like this can happen because some states are now issuing "electronic titles" so the finance co. and/or owner don't actually have a paper title in hand. I know when we paid off the loan for dh car a few years back we waited and waited and waited for the title. I eventually called the c.u. and was told "Oh we cleared the title, but FL doesn't issue paper titles unless you request it, so you need to contact the DMV" I had no idea that titles had gone electronic. Quote Link to comment Share on other sites More sharing options...
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