Ok, I feel retared. I bought a one owner 1992 SC300 on Saturday from a guy in Laguna Beach, California. I did the CarFax for it also. All the maintanance records are under his name. However, he never received the pinkslip because the car was financed through Chase Manhattan back then. We filled out a DMV forms "Transfer of Title With Paperless Title" and the "Notice of Transfer and Release of Liability". I became impatient didnt want to wait any longer because I have been riding my bike and/or taking the bus for the entire month due to a wreck last month that have left me without a car.

Before registering the car, I tried to add it to my 21st Century insurance policy. They said that they couldnt add it because its not registered under my name AND I am not covered for driving it. I asked, "Why is it not covered for liability when I drive it while Im covered borrowing someone else's vehicle? Wouldnt this be the same thing, since the car is still under the original owner's name?" They said no because the car is in my possession for my regular use and that there are certain technicalities involved when you are driving a vehicle u just purchased but not under your name yet. I am paying a gripload of money to this company for 2-3 years and I'm getting this type of BS. This does not make any sense because I am covered driving anyone's car but not the one I just bought.

Afterwards, I called the owner to asked him if he submitted all of the paperwork to the DMV. He said that the DMV didnt release it yet because Chase is still the lienholder and that he car is paid off since he owned for that long and that Chase would send something to the DMV by Friday. Moreover, he also informed me that I wouldnt be able to process any paperwork in the mean time. So, without the registration, Im unable to add it to my 21st Century policy. This is the 2nd car I ever bought. So whats ur guy's opinions or suggestions?

Since Im technically an uninsured motorist driving this baby around, are there other reputable insurance companies that would cover the during this type of situation, or is it just 21st Century being asses?

 

Little lesson in life here.......

"Hi, i want your car, where's the title?"

"I do not have it physically in hand"

"Good luck with your sale"

 

Yea. Im pissed and feel like a dumbass.

 

let me also point out:


So, he was on the 15 yr payment plan, eh?

 

Hmm. On our Bill of Sale, we mentioned that the car didnt have a pink slip and that it is free of incumberances. Since this guy owns a nice house in Laguna Beach that he bought the car back then, I'd really really highly doubt if he currently owes money on it. Could it be that he never filed the papers for the pink slip after paying off the balance?

Well its a one owner according to CarFax. Also all the Tustin Lexus receipts from all the way back has his name on it or his wifes.

 

Let me quote you from the first post:

PS- I have a ford ranger (1997 model) that i have the title to, a bill of sale, and know good and well it was released through 3 people before it came to me. It says one owner, and guess what... i never registered it either. Paperwork is in my briefcase because i just use it to haul when i need it. I've had it a year, next month. 10,ooo miles stacked on it since last june

 

Then how do u insure it? Maybe ur suggesting that this guy is tryin to rip me off?

 

I think he is suggesting that you already got ripped off. jk

Seriously though, good luck with it, im sure it will work out.

 

Ok, after losing my first car down a mountain, and now dealing with this crap. This car better be worth it. This car better pull off somethin for me down the road, like a major hottie.

 

Something doesn't sound right at all. When we paid off the lein on my previous 93 Acura Legend, Chase (Same as in your situation) mailed us the physical title of the car with all the signatures and paper work to release the car to me. They don't mail it to the DMV. From there I persoanlly took it to the DMV and got a new title issued in my name with no leinholder. The only way the leinholder still has the title is if they are still owned money. More than likely he either still owes something, or he was given the title long ago and just forgot about it. Seirously, if the car is paid off, why would Chase still be the leinholder?

 

Ughh Ohh. U think I can call Chase and verifiy it myself?

 

Chris is right. As soon as a car is paid off they send you the title with the lien release. So if it was paid off then he should have had the title in hand a long time ago.

I would definitely call Chase and ask them about it and tell them you think there may be a problem with a car that you bought from one of their clients and you need to know if it is free of any liens. They should be able to tell you that.

Good luck and don't feel stupid- everyone makes mistakes. Just learn from them!!

Let us know how it goes,

Jonny

 

All this guys have a point. But the thing that needs to happen is you need to get that car register.
So here is what I said you do call the bank and find out if there is still a lien on this car, or better
jet have the doode that sold it to you find out and as for the paper work on the car they send it to
the owner not the DMV. Banks are funny like that when you call get the name off the person you talk to so there is some type of record if not they will have you going in circles.

 

Ok i just spoke to the dmv and the owner afterwards. The DMV confirmed that the seller is the sole owner to that car and that for some reason Chase is still the lien holder after all these years.

Afterwards I contacted the owner and he said that he paid off the car after about a year and Chase never bothered to send him the lien release. He said that he contacted Chase and that they will send him the release either by Friday or Monday and that we both should go to the DMV together upon receiving the papers to avoid any delays due to missing paperwork/signature.

I hope this goes well.

 

Doesn't sound like the guy is being "hard to find" and he's working with ou to get this handled. I'd just say relax and know better next time You'll be okay...