[DeTomaso] FW: More Calif Smog Checks

[Michael Shortt]

That is also how it works in Georgia.

Same as a house, it's like the girlfriend, you're just paying to use it
until it's yours.

and like the Pantera, that's when the bills start to really climb!



On 6/23/07, Asa Jay Laughton <asajay at asajay.com> wrote:
>
> I don't mean to disagree, however as I recall, in the case of my
> Pantera, the Bank actually was listed as the owner on the title.  After
> it was paid off, they sent us the title, with appropriate paperwork to
> submit to the state of Washington so we could then get the title
> re-titled in our name and not the banks name.  Maybe it's different in
> different states.  Our bank was in Texas, our car was in Washington.
>
> Asa Jay
>
> Asa Jay Laughton, MSgt, USAFR, Retired
>
> & Shelley Marie
> Spokane, WA
>
> 1973 Pantera L 5533
> [ASASCAT]
>
> ******************************
> http://www.asajay.com
> http://www.351c.info
>
>
>
>
> Dan Mixon wrote:
> >> I'm not sure about California but the states I've lived in the tile of
> the
> >> car is held by the finance company until the car is paid for.  I maybe
> >>
> > wrong
> >
> >
> >> but isn't the tile holder the actual owner of the car.
> >>
> >
> >
> >
> > No. When you buy a car and finance it, you agree to certain terms
> (finance
> > contract). The title is in your name but it is held by the finance
> company.
> > The finance company doesn't own the car, you are the owner of the car.
> The
> > contract with the finance company gives them certain rights regarding
> the
> > car. If you quit paying, they get to come and take the car. They then
> have
> > the right to sell the car. If they sell it for less than you owe, you
> are
> > still legally required to pay the difference. When you pay off the loan,
> the
> > finance company stamps the lien is paid and sends the title to you.
> >
> >
> >
> > In the case of the California rice racers, it wouldn't matter if there
> is a
> > lien. The state has the right to take the car from the racer because of
> > illegal activities involving the car (stolen parts and street racing,
> maybe
> > grand theft auto to get the parts). If there is a lien against the car,
> > that's between the owner and finance company, not the state and the
> finance
> > company.
> >
> >
> >
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-- 
Michael L. Shortt
Savannah, Georgia


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-- 
Michael L. Shortt
Savannah, Georgia


This email is protected by the Electronic Communications Privacy
Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be legally
privileged.  If you are not the intended recipient, you are hereby notified
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