I bought a 2005 vehicle from a local dealer. I financed the purchase using a new-car loan from a third party lender (not the dealer or manufacturer). When I received the title, there was no lien holder listed. I have a contract with the lender and I am going honor that contract. However, I would like to pressure the dealer for consideration--perhaps like giving me an extended warrenty on the vehicle in exchange for letting the dealer off the hook with respect to the lien holder listing on the title--assuming the dealer is on a hook to begin with. Is this possible?
2007-01-11 08:05:57 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
look at your paperwork, you might of taken out an unsecured loan which you are liable for. Forget the dealer, If you want to do the right thing contact the lender and explain the situation to them
2007-01-11 08:11:45 · answer #1 · answered by bayareart1 6 · 0⤊ 0⤋
I'm not sure I understand your question. Is there something wrong with the vehicle? If so, check the lemon laws in your state. Call the Attorney Generals office and they'll help. Next, the lien hold is usually the party or company you borrowed the money from. They technically own the car until it is paid off. If you fail to pay they'll repossess it. Also, no ever gets the actual title until the car is paid off. The company you borrowed from is not very smart if they gave you the title before pay-off. You can not renegotiate with the dealer after you've already made the purchase. THE CAR IS YOUR NOW PAY FOR IT. Again, if it's defective and they won't fix it then you may have something unless the warranty has expired. It's a 2005 then it probably still has a couple of years left on it depending on how high the mileage is. Check with the manufacture.
2007-01-11 08:34:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No state stated, so the answers are different for different states. Basically having a dealer do your motor vehicle is a service they offer their customers. And in most states they are not required to do so. Dealerships pay for a "Motor Vehicle License" to be able to issue temporary's and have motor vehicle work done for them at an agency. All dealers do it because it makes it easier for their customers, and encourages repeat customers etc. If you didn't notify the dealer that there was a lien, then how are they supposed to know?? Not all bank checks, credit union checks etc., are a lien. If the dealership knew it was a lien, and made the mistake of not putting the lien on the title, most dealerships, if they want to keep their customers happy and come back for their next car, will get the title changed to reflect the lien. In most states that is a simple process of adding a lien. It will not affect the registration, it is just adding a lien on the title. You will probably get a new title, but as I said it will not effect the registration. You can get a lien put on the title by going to your local DMV and adding the lien. Go on line for your states DMV to find out how you can do it. And in most states the lienholder can also do it. Many private lienholders will charge their customers an extra fee until they get the title with the lien on it. They return the extra fee if the title gets to them with the lien, otherwise that charge is to pay for a new title with the lien. You can try to get something extra from the dealership, but you basicaly have no legal grounds. As I said, it is the dealers choice in most states to handle their customers motor vehicle. In many states all the paperwork is given to the customer to handle their own motor vehicle.
2007-01-12 05:39:39 · answer #3 · answered by just me 6 · 0⤊ 0⤋
The lien holder would be the financial institution you got the loan from. The dealer may be on the hook to them for giving you a free title to something you don't fully own, but you could be on the hook to the lender for not providing the agreed-upon security for the loan, i.e. the title. To attempt to profit from this by using the dealer's error to pressure him could result in any number of charges, even if he initially goes along with it. Fraud, conspiracy to commit fraud, racketeering, and attempted exthortion come to mind. The dealer could also go to the financial institution and tell them what you are trying to do. That would lead directly to one count of fraud against you from the bank, another from the car dealer for trying to leverage goods you don't own, and possibly a charge of grand larceny since you have not satified the collateral obligations but still possess the car.
I think you should straighten thing out with the bank before you end up paying $50k in legal fees to avoid a lengthy stay in prison. Also, do you really want a dealership working on your car after you just strong-armed them? Lots of things like brake pads, and tires can get screwed up by a mechanic and they are not covered by warranty. All he would have to do is misalign the wheels to cause a cupping tire issue, and that would eat up four hundred right there. He could also put water in the power steering fluid which would require a pumpout at about $500, or sand in the CV boots, or any number of other issues that are considered consumables and are never covered.
2007-01-11 09:14:56 · answer #4 · answered by crossbones668 4 · 0⤊ 0⤋
Sounds like a clerical error. Good luck getting a $1400.00+ warrenty out of this "minor" error.
2007-01-15 05:36:12 · answer #5 · answered by Brandon K 1 · 0⤊ 0⤋
If you signed the loan agreement ,it does not matter at all if they are listed as a lienholder .So now you can neither extort or defraud them.
2007-01-11 08:24:13 · answer #6 · answered by baalberith11704 4 · 0⤊ 0⤋