Title?
10-26-2011, 12:28 AM
#1
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2015 VW GTI.S4; 2016 Audi Q3 Prestige
Title?
Buying our first vehicle in 6 years. So a little rusty.
We are paying half of it with a loan via a credit union (check made out to the dealership in hand) & the other half out of our own pockets.
The dealership is on the hook to their finance company - that we know - as we saw the invoice & who currently holds the deed to the car.
Our credit union wants the title to reflect us as the owners & them as the lien holder.
But they also said that if we can, to get the title & send it to them as we have 30 days to do it, else the interest rate goes to an unsecured rate!
Questions:
1) Will the title be given to us when we pick up the car - after we hand them the money in full?
2) Or will it be sent to us?
3) Or sent to our credit union?
We are paying half of it with a loan via a credit union (check made out to the dealership in hand) & the other half out of our own pockets.
The dealership is on the hook to their finance company - that we know - as we saw the invoice & who currently holds the deed to the car.
Our credit union wants the title to reflect us as the owners & them as the lien holder.
But they also said that if we can, to get the title & send it to them as we have 30 days to do it, else the interest rate goes to an unsecured rate!
Questions:
1) Will the title be given to us when we pick up the car - after we hand them the money in full?
2) Or will it be sent to us?
3) Or sent to our credit union?
10-26-2011, 10:42 AM
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2011 GLK350
I am the General Manager of a car dealership. A new car does not have a title, it has a MSO (manufacturer's statement of origin) the state you register the vehicle in will generate a title for your car. If the dealer registers the vehicle your state will mail the title to your credit union, if you register the vehicle you must forward the title to the credit union after you receive it. I hope this helps.
10-26-2011, 03:23 PM
#3
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2015 VW GTI.S4; 2016 Audi Q3 Prestige
I am the General Manager of a car dealership. A new car does not have a title, it has a MSO (manufacturer's statement of origin) the state you register the vehicle in will generate a title for your car. If the dealer registers the vehicle your state will mail the title to your credit union, if you register the vehicle you must forward the title to the credit union after you receive it. I hope this helps.
I thought as much about the bold part above. Guess, that's where my dealership processing fee gets put to good use.
10-27-2011, 09:43 AM
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Red GLK350, blue '87 Toyota Land Cruiser
My idiot dealer, after at least three people there being told at least five times that my mailing address is NOT the county I live in and the vehicle must be registered to the county I live in registered it in the wrong county.
I had to spend half a day going to MV in both counties to correct their stupid mistake. That and other reasons are why they will never see this car again.
I had to spend half a day going to MV in both counties to correct their stupid mistake. That and other reasons are why they will never see this car again.
