Title in hand

Traded in a 19 Taco for the 21 Tundra back in May and self financed. Got a great value on the Taco. Typical transaction overall.

Dealership drug their feet on providing documentation to my finance co. That extended the start date of my actual loan. Great! 3 months no payments.

Money for new mods!!

Today,,, I received the Blue title to the Tundra,,, NO LIEN HOLDER LISTED. So, according to the title, I am the sole owner.

Thinking about not say anything to see how long it takes them to figure it out.

Someone at the dealership is going to have a conversation with their manager eventually.

 

Quick! Turn around and sell it for a profit!

 

Lol oops!

 

Score good luck

 

We're in a golden era of stupid. Enjoy your dividend.

 

Does your insurance company have it listed on your policy? Yeah your dealer screwed that one up....just make sure they don't try to charge you for the title change once they do figure it out. I don't know if the DMV will catch it or not.

 

See how long it takes them to figure out.

 

For clarity, my wife has worked for a few auto dealerships over 20 years. Has worked every desk in a auto dealership accounting dept.

Having had to listen to all the BS she dealt with from situations like this, I am simply looking at this as an apportunity to make someone else sweat a bit.

I have no ill intent with this. I know the true legalities of it all, and simply posting knowing that this is a huge but seldom occurring mishap.

 

Ok - so you have a clear title.

only problem is - somewhere along the line you signed both a “promissory note” (obligated you to repay - collateral or not) and a error and omission form that allows them to correct any errors (such as not being named on the title as lender) without your having to consent again (that form was your consent).

You COULD resell the truck in a hurry - and not pay off the loan - but they would have every right to request payment in full should they be unable to place a lien on the vehicle and likely would sue for payment in full if you refused. A lot of hassle to clear a quick 60k max - and you’d trash your credit in the process.

It happens more than you’d think - dealer did similar with my boat a few years ago - I held the titles until lender caught it 90 days later and then called - asking me to FedEx back to them - told them send me a label and I would…I ain’t paying $24 for your mistake. They did and I mailed back to them.

 

Last year when I bought mine the dealer didn't forward the title to the bank in a timely manner and the bank started calling me about it.
It dragged on for quite a while, dealer blamed it on the Rona for months, like everything else.

I discovered that under state law they had 45 days to produce the title, and it didn't get resolved until almost double that. The bank started threatening to foreclose (bill the dealer for the balance) AND, I started a complaint with the DMV which got the government after them... I'm not sure which one, or neither did it, but shortly after that they finally found it.

I've traded in cars before without actually handing them the title, so I know they can just print up a new one if they want... I suspect there was a prior lien they were unaware of when they took it in, and probably had to pay to resolve it, but, I'll never know for sure.

 

LOL change your number!

 

That's an interesting way to put it!

 

Let them stress for a while, builds character.

 

You "simply looking at this as an opportunity to make someone else sweat a bit" is just immature and petty. Take the high road and do the right thing.

 

I thought self financing was just a fancy way of saying you paid cash, I'm so confused