[DeTomaso] Another inquiry......... talk to me about car titles please.
Sean Korb
spkorb at gmail.com
Thu Jul 8 16:19:44 EDT 2010
The bank also wants to be sure there are lo liens against the car.
On Thu, Jul 8, 2010 at 3:47 PM, Asa Jay Laughton <asajay at asajay.com> wrote:
> I had to title it in CA first, then in my home state. The bank still
> kept the title, but I had no hassles from my them. The only hassle
> was that I couldn't get it licensed to -drive- it home, without first
> doing a title transfer in CA. (It was a CA car that had not been
> registered in years). The title however wa still in the owners name.
>
> -That- is probably more the issue, that the present owner does not
> have clear title to the vehicle if they -never- transferred the title.
> So the bank is probably being cautious. They wouldn't want to
> finance a car that ended up being stolen.
>
> Asa Jay
>
> Quoting Dee Hart <qqpursuit at gmail.com>:
>
>> This what I think I know................OK a guy in Jersey buys a pantera
>> from (Pro Auto sales) Penn. The Jersey guy puts it in the garage and never
>> registers or Titles the car in the Jersey guys name. Now the Jersey guy
>> wants to sell it. An out of state buyer comes a long and would probably
>> want to buy the car but would prefer to finance the car. The finance
>> company says no, because the car is not Currently titled. Is that
>> customary for a finance company to make that requirement? Does the out
>> of state buyer simply get a copy of the title that I guess would be in Pro
>> Auto Sales name and show it to the Finance company? Or maybe the
>> out of state buyer simply gets a home equity loan and goes that route, and
>> screw that finance company?
>>
>> Curious.................... Doug.H
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--
Sean Korb spkorb at spkorb.org http://www.spkorb.org
'65,'68 Mustangs,'68 Cougar,'78 R100/7,'60 Metro,'59 A35,'71 Pantera #1382
"The more you drive, the less intelligent you get" --Miller
"Computers are useless. They can only give you answers." -P. Picasso
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