Title Trouble

[jimlam56]

As some of you know, I acquired a Blue MM last month.
I love the car, but cannot drive it due to the fact the previous owner has not sent the title yet. Therefore I cannot get it registered etc.
It seems that the hubby misled the wife into thinking the car was paid for, when in fact the bank still has the title. Sounds like there's way more to the story than I know...
She has communicated with me via email, says she's working on it, but I'm getting nervous.
Any advice on what my next step should be?
They are in Colorado, I'm in Florida, I'd hate to have to fly back out there to straighten this out, but I have a beautiful car I can't drive!:alone:

[BruteForce]

...and your attorney advised you to...?

[ckadiddle]

As some of you know, I acquired a Blue MM last month.
I love the car, but cannot drive it due to the fact the previous owner has not sent the title yet. Therefore I cannot get it registered etc.
It seems that the hubby misled the wife into thinking the car was paid for, when in fact the bank still has the title. Sounds like there's way more to the story than I know...
She has communicated with me via email, says she's working on it, but I'm getting nervous.
Any advice on what my next step should be?
They are in Colorado, I'm in Florida, I'd hate to have to fly back out there to straighten this out, but I have a beautiful car I can't drive!:alone:

MFGDSOBSEDW!!!!!!!!! &*^%$^#$%$^$#&!!!!!!!:mad: :mad2: :mad:

Mebbe a few Colorado members could make a little "site visit" on your behalf to politely encourage them to amicably resolve the issue.

[ctrcbob]

I guess I buy cars different than you do. (I'm being kind here).

When I buy a used car, (either from a private party, or dealer), I always insist on seeing the title before I give them money. Just have to be sure that they have it. If they can't come up with it, I don't buy. Only exception to that is if a local bank has the title in their vaults, then we go together to that bank, get the title, (which I look at), the I pay them and get the title signed off to me. You don't know what the seller is going to do with the money, vice paying off the car.

Problems can even creep up with dealers. Had a friend buy a used car from a dealer, got a 30 day permit, but title never came. Dealer made out a second 30 day permit (only allowed two), and come to find out, the dealer never paid off the car, so the distant bank would not send the title to the dealer who then did not send to DMV. Friend got the State involved, and they got on dealers case. Title arrived three months after car purchased.

I insist on seeing the title, (checking vin, liens, etc) before I give them any money, no matter how much I want the car.

Good Luck

[kj31067]

this doesnt look good...hopefully the hubby didnt blow the cash in vegas or finance a habit or hobby ...i shudder to think maybe ol blue wasnt even theirs to sell.... i m sorry but no title no cash or lets all go to the bank together for the title , then you have a notary for the transfer of title AND bill of sale.. a "toofer" so to speak..... i hope this works out for you....keep us posted...

[Tallboy]

How was payment made? If by check, to whom was it written?

If it was cash, or a check made out to the owner, this could get sticky...:(

[TAF]

...and your attorney advised you to...?

+1 ^^^^

The guy in Colorado didn't look like this...did he?

http://us.news2.yimg.com/us.yimg.com/p/ap/20060817/capt.bk10708170749.thailand_jo nbenet_ramsey_bk107.jpg

[Bluerauder]

As some of you know, I acquired a Blue MM last month.
I love the car, but cannot drive it due to the fact the previous owner has not sent the title yet.
Dang, Jim !! :( Hope you are able to get this sorted through and worked out quickly. If he sold the MM to you for less than he owed to the bank, I suspect the bank may/will hold the title until they get their full payoff. Be really careful if the seller comes back looking for more to get off the hook. Hope you have a bill of sale. By now, he should have notified the Colorado DMV of the sale of the vehicle and notice to the lienholder. Let's hope this all plays out in your favor. Good Luck !!

[Pat]

Let her work on it, as she stated.

Pat

[Cobra25]

I have a friend in New York that trusted someone like you did. Payed for the Car with the promise from the owner that he would have the title in a week or so . The owner owed the bank alot of money on the car, they didn't pay the loan off as promised and spent the money and the bank found the car and took it. He was out the money and the car. He took them to court but they filed chapter 11 or 13 I believe it was and never go a dime back or the car. Be careful and don't sit on it at all.

[SergntMac]

Have your local police run the VIN, and do a title search, that should reveal the leinholder. Contact them direct, find out how much is involved, may be just a dispute over 100 bucks. If it's not a lot of money, pay it yourself and chalk it up to another "life's lesson". If the leinholder sends out a repo, you could end up with nothing at all.

[Hotrauder]

Jim, we wish you good luck with this, my friend. The best advise seems to be get right on this, now. I agree. DON'T WAIT FOR HER. Dennis:cool:

[KillJoy]

I have absolutely NO useful info for you on THIS matter.

That being said.... I hope for the best to come from this. I'd hate to see that Blue go away!

KillJoy

[MarauderTJA]

Jim, this is a very tough situation you are in. I really hope it works out for you. Follow it through the best you can. I do a lot of training for L.E. in Colordo. Depending on the location in CO I may be able to get some support for you. You have my cell number.

[fastblackmerc]

Jim, hope everything works out for you :up:

[jimlam56]

Thanks for all the comments and advice.
I paid for it by way of cashier's check from Bank of America, so I have a receipt. I also have a bill of sale signed by the owner that states the title would be sent overnight once my cashier's check cleared. Of course that didn't happen.
I have contacted the CO dmv, and am waiting to hear back from them.
If anyone wants to attempt to reposess it, they are going to have to move 4 cars and face my family's arsenel to do so.
I'll let y'all know how this plays out.

[Cobra25]

I Hope things work out for you.

[TAF]

Hope everything is just a misunderstanding and you get the title soon, Jim. I CAN'T STAND when people aren't good to their word :mad2:

[magindat]

Jim,
Mac is right about finding the lienholder. You have a receipt, etc. Bank of Am will contact the previous lienholder to get their title if you give them the info. I am assuming the BOA check was via a loan. If not a loan, BOA has no motivation to help you and you are on your own.

I bought my MM the same way. Draft from Suntrust. Had similar title troubles. Ultimately Suntrust contacted the original bank and got the title. I never even saw it 'till I paid the car off.

In any event, the current lienholder will not communicate with you re: the amount owed. They can't. They would however, communicate with BOA about it if BOA was hunting for a title to satisfy their collateral.

If the wife is working with you, she may give up the info. Her choice. Lots of privacy regulations here. You can't force her or her bank into telling you.

I work in banking, so if you need more help, PM me or call me.

Good luck, bro.
Rich

[Dragcity]

Good Luck Bro. I wish there was something I could do to help....

[magindat]

I read this thread again and I'm thinking...

Often a payoff is called for when a car is selling. Perhaps they skipped the last payment hoping it would sell? In any event, most payoffs are only good for 10 days and include daily interest from the last pay date 'till the last day of the 10 day period. If the 10 days are exceeded before the payoff is received, there is often a dispute over some relatively small change which is made up of a number of days of interest. On car loans, this is rarely much money unless the loan is VERY young (interest pays before principle). Some banks will blow off this tiny amount if it's a just a day or two. Some will be hard a$$es to get it and spend more in man hours collecting it than the actual amount (go figure).

For example, my little hometown bank would typically blow off 1 day's interest if the payoff was received on day 11. Bank of America would hold title until they got paid.

Hopefully you are dealing with this type of situation. If so, even if you had to pay the daily interest, it should only be a small amount.

To put it in perspective, a 30K loan at 10%, in the first month (the worst), interest is $8.33 per day. Yes, there are banks that would hold title for $8.33. Hopefully, like I said, you are only dealing with a few days of interest for the payoff coming a little later than the 10 day period.

Again, call or PM if you need an help.

Rich

[merc406]

I guess I buy cars different than you do. (I'm being kind here).

When I buy a used car, (either from a private party, or dealer), I always insist on seeing the title before I give them money. Just have to be sure that they have it. If they can't come up with it, I don't buy. Only exception to that is if a local bank has the title in their vaults, then we go together to that bank, get the title, (which I look at), the I pay them and get the title signed off to me. You don't know what the seller is going to do with the money, vice paying off the car.

Problems can even creep up with dealers. Had a friend buy a used car from a dealer, got a 30 day permit, but title never came. Dealer made out a second 30 day permit (only allowed two), and come to find out, the dealer never paid off the car, so the distant bank would not send the title to the dealer who then did not send to DMV. Friend got the State involved, and they got on dealers case. Title arrived three months after car purchased.

I insist on seeing the title, (checking vin, liens, etc) before I give them any money, no matter how much I want the car.

Good Luck





Ditto: No title = no money, should have gone to the bank or titleholder .

[jimlam56]

I paid cash for the car, by way of a cashiers check drawn from my funds.
I got an email from the wife today stating that I will receive the title within a few days. I'm still waiting for the CO dmv to call me back.
Thanks for your professional advice Rich!

[Petrograde]

man,.. I hope hope this works out in your favor!!!!!!!!!!!!

[Breadfan]

I paid cash for the car, by way of a cashiers check drawn from my funds.
I got an email from the wife today stating that I will receive the title within a few days. I'm still waiting for the CO dmv to call me back.
Thanks for your professional advice Rich!

So perhaps she's shipped it? That'd be nice, I hope it works out.

Sadly the other side presents itself, she could just be buying time...

Sounds like you've got the right idea, keep up with the DMV until you're holding the title.

[Tallboy]

Colorado DMV has nothing to do with it.

The bank/finance company that holds the title, also holds all the cards.

[jimlam56]

Colorado DMV has nothing to do with it.

The bank/finance company that holds the title, also holds all the cards.

That's true Chuck, but I'm hoping as SgtMac suggested I will be able to determine the lienholder, if it comes to that.

[jgc61sr2002]

Don't let your guard down until you see the title.
If he still owes the bank a repo man/women will be looking for your marauder.
I would put it in a secure location untill the matter is resolved.
Good luck.

[SergntMac]

That's true Chuck, but I'm hoping as SgtMac suggested I will be able to determine the lienholder, if it comes to that.And when you do find them, they will be cooperative. They may not tell you everything you ask, but their goal is your goal, to settle the account and transfer ownership. Finance/loan companies are not in the automobile business.

[magindat]

Mac's right. They don't want the car. Wifey may have been surprised by the notion of the last payment being missed or the extra daily finance charges. Maybe Hubby sold you the car and got caught behind these numbers.

In any event. The lienholder DOES wan to settle the accoutn but WILL be limited in the amount of info they can provide you.

Good luck, bro.

[MM2004]

I paid cash for the car, by way of a cashiers check drawn from my funds.
I got an email from the wife today stating that I will receive the title within a few days. I'm still waiting for the CO dmv to call me back.
Thanks for your professional advice Rich!

Jim,

Has this issue been resolved yet?

Mike.

[martyo]

Mac's advice was on the money here. Get on this NOW. These problems are not like fine wine, they don't age well.

The problem you will face is that the payoff bank is not likely to send the title directly to you unless the seller says to.

Are you sure there is a pay off bank, or did we all just assume that?

By the way, I can't handle this matter for you but I would be happy to help coach you a bit from teh sidelines, if I can. Then again, Mac gave very good advice and he carries a gun, so..... :D

[jimlam56]

Jim,

Has this issue been resolved yet?

Mike.

No Mike, it hasn't.
I have a meeting with my attorney today.
What a hassle, guess I have to learn everything the hard way.

[Hotrauder]

Damn Jim. I feel your pain. this sucks big time. I know what a helpless feeling you must have and wish I had an answer for you. If I can help in any way please let me know. Dennis:(