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re: Anyone Ever Deal With A Used Car Dealer Not Sending The Title To Bank?
Posted on 5/28/16 at 10:07 am to GaryMyMan
Posted on 5/28/16 at 10:07 am to GaryMyMan
quote:
So you skipped going there or pushing the bank to handle it, and got a high priced attorney because you have not heard back inside less than a week?
It's sounding more like a brag thread than real life.
Did you even read what I posted? Its been over 90 days. The law is actually 45 days apparently for the dealer to send the title. My banker called me monday and let me know that I needed to see what was going on and how to get it resolved, after 4 days of no response from the dealership, the banker suggested an attorney. If it was a subtle brag thread I wouldve said I bought X car paid X amount and here's a picture.
As for what I paid, it wasn't merely for a letter. It was for retaining his services but thanks for the wise remarks. I can always count on those, thats why I included my own of not needing a lesson in personal finance.
I appreciate the people with the helpful insights so far, Im just worried that whoever the bank is for the place I bought it from is the real owner of the car and could repossess mine. Thats why I went ahead and hired my attorney. A bank lends money to the dealership and when I paid for mine the dealership is supposed to pay off the car to their lender and get the title. This apparently is not happening so we have a problem.
This post was edited on 5/28/16 at 10:08 am
Posted on 5/28/16 at 1:43 pm to dabigfella
You've done everything you needed to do. My guess is they're floating money. They have paid off some other titles with your money and probably pay your title off next week. They dont want to lose their auto dealer license over your car. If no response by end of next week call used car commission. They have every used car dealer by the balls.
Posted on 5/28/16 at 1:55 pm to dabigfella
I just talk a dealer buddy. If nothing happens say after 60 days the state can intervene and force the floorplan company to release the title. Floorplan company will be out the money. The dealership will lose its license. They'll correct everything this week im assuming. They dont want to have to shut down doors to their business
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