Buy This Name Here
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Paid off a car loan, now I want the lienholder to sign title over? Q. I previously purchased a vehicle from a "buy here, pay here" lot in Michigan. I have since paid the entirety of the loan. The title currently states my name as the owner and the lien holder''s name as first secured interest. They have acknowledged that the loan has been satisfied, and they are willing to sign the title. Beyond this, what else do I need to do to be certain that this is now MY vehicle? I may be interested in selling or trading the vehicle soon. Please advise. Thanks. Asked by Ms.Cosha - Thu Dec 11 19:39:01 2008 - Buying & Selling - 5 Answers - 1 Comments A. In Michigan, the lien holder "should" notify the Secretary of State that the lien has been satisfied. And if they sign off on the title where the lien is, there shouldn't be a problem when you go to sell the vehicle. But if you want to make sure the lien has been satisfied with the state, you can call 888-SOS-MICH (888-767-6424) to verify that the lien has been paid in full (satisfied) Since it was a buy her pay here lot, you may want to ask them for a notarized letter, on their letterhead stating the loan has been paid in full. (Just to be on the safe side. ) Answered by just me - Fri Dec 12 08:43:01 2008 Please Help..I Think I Am a Victim of Fraud?
Q. Long story short, I need to know if in the state of CA, a "buy here- pay here" dealership can sell your auto loan contract 6 months after the payments begin (and the account is in good standing), and not notify you of the transaction? I also found out through DMV yesterday that on the very SAME day that the loan was purchased from the dealer, that one of the two companies changed the title information. I no longer show as the registered owner of the vehicle, my registration has been null and void for almost a year now (it was almost time to renew which is why I called DMV). I have possession of the vehicle (and all the paperwork I ever received), but I had the police run the tags and VIN to make sure it wasn't reported stolen… [cont.] Asked by - Wed Jan 25 03:36:24 2012 - Law & Ethics - 2 Answers - Comments A. If the title is in your name now, and the car was never reported stolen, I don't think you have any grounds for legal action. Answered by - Wed Jan 25 03:51:21 2012 From Yahoo Answer Search: "buy this name here" |
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