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What if previous owner still has title to the car you got a loan for?
Wiki User
∙ 12y ago
I doubt that the title is still valid; but check with your lender before you make loan payments and make sure. They should be holding title in your name with a lien.
Wiki User
∙ 12y ago
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Can you get a new title in your name if previous owner never paid for title loan received and then died leaving it to you and title loan comp has original title still?
no you need the tittle
Can your car be repossessed if you hold the title?
Yes, if you took a loan out and used your car as collaterol, then it can be taken away. If you own the title free and clear, then it cannot be taken from you. Only if you owe money on it or the previous owner owes money on it. If the previous owner has an outstanding debt on the car and sells it to you without you knowing about the debt then the car can still be repo'd.
Buying a motorcycle that the owner still has a loan on how can you be sure you get the title?
Don't pay him until the title is in your hands. Also, make sure your bill of sale mentions that YOU don't get the loan, and that it is still his responsibility.
How can I prove to a judge that I didn't steal a car that was given to me for loan repayment?
Show the Judge the title for the car that is properly signed over to you by the previous owner.
If you buy a car and the car has oustanding loan from the previous owner?
Never, ever buy a car with an outstanding loan. In fact you cannot transfer the title with a lien on it. Walk away from this deal. It is nothing but trouble.
How do you get the title for a vehicle?
The previous owner will have the title, if he or she owns it free and clear. Otherwise, the bank or loan agency has possession of the title until the balance owed to them has been paid off, and will show them as leinholder. Never ever purchase a vehicle without obtaining the title from the previous owner(s). It is their responsibility to obtain this FOR you, not the other way around. If you purchased and are restoring a non-running vehicle , just take the recept with a note from the owner to Motor vehicles and file for a lost title. This often happens with an estate purchase.
How does a co signer get their name off a car if they are not on the title and the owner still makes payments on time?
The loan has to be refinanced without the cosigner being involved.
If you cosigned for an auto loan and your name is on the title do you have a right to the auto?
Absolutely, name exists on title therefore you are part owner.
How does the owner get their name off the car loan?
The loan must either be paid off at which point the bank sends the title slip to the "owner" or the bank agrees to transfer the loan to someone else's name (the new buyer).
Can you get a title loan on a salvage title?
Most banks or independent title loan companies will NOT give you an AUTO loan or consider the car as collateral on a Salvage title car. Some dealerships have been know to sell salvage title vehicles and submit the title for a loan, unbeknownst the bank or the vehicle's owner. This is not illegal in some states. Always ask to see the title when purchasing a used car from an unknown dealership.
Can I get my name off the title and loan of my ex-son in law's van if he still has a loan on the van?
The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.
When lender holds loan is title still considered clear?
No.
