vendredi 29 juillet 2016

Repossession: I Got Vehicle with Old Title Later on Found It Has Lien on It

My question involves a consumer law issue in the State of: FL

Hi,
I am in FL. I bought vehicle (old truck) with a paper title that didn't have any lien mention on it. They seller gave me title signed by owner and bill of sale from owner listed on title with title owner sign but and buyer field were left blank. He provided me his Driving license id number and name via sms and saw I his ID at the spot.

Later on when i went to DMV i found this title is no more valid and there is another title that has lien on it. I tried to chase the guy who sold me the car he was not on the location any more and number went off. ID he showed me was fake and he does not live there. But i am still trying to find that guy. Only proof i have from that guy is the sms communication about car and he also sent me title picture via sms.

I contacted the lien holder company and explained the whole thing. They finally agreed that if i Pay $2000 which was originally $4500 they will release the lien on it and they said original owner never paid any installment and they can reposes the vehicle. But only releasing lien does not help me. because when they will release lien, vehicle will still remain on original owner who is on title.

I went to DMV they said even after lien release you need get the new title from original owner to get it transferred on your name OR lien company should get the title by processing repossession and then they can sell you vehicle. Lien company said if they will repo they will not sell it to me they might auction it but they lien holder company lady said she will discuss with her boss and will give me a call back later. They have not repossessed the vehicle as it is not at my location any more.

I want to know what option do i have:

1. Should i go ahead and search original owner to get the power of attorney by showing her the proof i have . (I don't think she will help me because i believe she knew about and she sold out the car through some other guy)

2. Should i let them reposes (If i let them then they can refuse me selling car after reposession).

By the way i got car for $3900 as per the market value of the car. I am still willing to spend 2000 to save car and 3900 but do not know what should be the right move. I told lien holder company even if they repossess the car they might be able to sell it on the same price which i am agree to pay them already. in case if we junk the car then no one will get nothing.

3. Can lien company take an legal action against me for vehicle based on the calls communication with them. They have no record other than call that i have with them. ?

Please help if you know any solution. Thank you

I heard from some one if lien holder company gives statement that I paid off the loan and owner listed on the title never showed up then DMV do not need another printed title after lien release. They will issue you car on my name ? is that true ?

I heard from some one if lien holder company gives statement that I paid off the loan and owner listed on the title never showed up then DMV do not need another printed title after lien release. They will issue you car on my name ? is that true ?


Repossession: I Got Vehicle with Old Title Later on Found It Has Lien on It

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