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Started By
Message
DMV sent me title to new truck. My bank should be lienholder
Posted on 12/31/14 at 12:34 pm
Posted on 12/31/14 at 12:34 pm
Someone messed up.
I purchased a new Tacoma from a dealer in beginning of Dec. I financed $12k through my bank. Got the title for it in the mail today. It only has me listed as owner on it.
Should I:
A. call the bank
B. call the dealer
C. call the DMV
D. default on loan, keep truck, ??, profit
I purchased a new Tacoma from a dealer in beginning of Dec. I financed $12k through my bank. Got the title for it in the mail today. It only has me listed as owner on it.
Should I:
A. call the bank
B. call the dealer
C. call the DMV
D. default on loan, keep truck, ??, profit
2
Posted on 12/31/14 at 12:50 pm to LSU6262
Did the dealer send the paperwork directly to the DMV? If so, I'd call the dealer.
Posted on 12/31/14 at 12:57 pm to LSUFanHouston
Yes, the dealer did the paperwork
This post was edited on 12/31/14 at 12:58 pm
Posted on 12/31/14 at 1:16 pm to LSU6262
You having the title has zero relevance as far as your loan goes. Obviously defaulting is not the right answer.
I probably wouldn't do anything. But the right thing to do is probably call the bank.
I probably wouldn't do anything. But the right thing to do is probably call the bank.
Posted on 1/1/15 at 9:51 am to DownSouthDave
Don't call anyone.
Cut your insurance down to liability only. Invest the savings. Pay the loan. Enjoy the windfall.
Cut your insurance down to liability only. Invest the savings. Pay the loan. Enjoy the windfall.
Posted on 1/1/15 at 12:45 pm to Meauxjeaux
quote:
Cut your insurance down to liability only. Invest the savings. Pay the loan. Enjoy the windfall.
And when the bank gets the notice that his insurance has dropped they will pick up a policy to cover their financed asset. They will charge the cost back on the loan. The policy will also be twice as high as what you could buy yourself.
Posted on 1/1/15 at 1:39 pm to lsufan1971
Call the dealer and the lender. The lender will figure it at at some point with they do an audit on outstanding titles.
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