2007-06-29 22:41:32 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Hmmm you are in deep doodah:( You don't have good title to the car, so the finance company are totally within their rights to repossess it.
Get after the person who sold it to you.
You could try talking to the finance company and see if they will agree a settlement figure for the car - but I'd HAVE to go after the ********* who sold it to me.
2007-06-29 22:44:20 · answer #1 · answered by Sal*UK 7 · 0⤊ 0⤋
Legally, if the finance company still had a loan out, then there was a lien stamped on the title.
What that means is that the car cannot be sold to you by the person who 'owned' it, because the finance company owned it until it was paid off.
So the transaction was not legal, or the title was forged, or the company is dicking you around.
Check the title. Who is typed in as the owner? Is there a stamp below with the name of a bank or financial company?
example: http://www.law.arizona.edu/depts/boyd/Complete%20CANINE%20Contents/References/titlegrey.jpg
You have 3 ways things could go here:
1. If you don't have the title, and the transfer of ownership was not recorded by the DMV or Secretary of State, then you are out a car and the money you paid.
2. If you have a fake title, then you may be able to sue for your money back. At least press charges.
3. If you have a legit title, legally transferred in the eyes of your state, then it would be illegal for the finance company to take it away. If they failed to lien the vehicle, then that is their problem, not yours.
In no case is the finance company justified in seeking money from you.
2007-06-29 22:57:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you paid cash for car and didn't get a free and clear title when you handed over the money, you are an idiot.
Say goodbye to your money and your car.
2007-06-30 04:32:26 · answer #3 · answered by mccoyblues 7 · 0⤊ 1⤋
sorry to say the car is a goner. when a car is sold it takes all its debts with it so if you want to keep the car you will have to pay the company for it.
2007-06-29 22:56:08 · answer #4 · answered by emoboyzrhot 5 · 0⤊ 0⤋
should have done a revs check man,sorry but you lose,go get the guy who sold it to you,better take a few mates as well
2007-06-29 22:52:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋