...because then he'd have to explain to the police who have his car why he didn't register the title or tag his car (i.e. scamming out of state sales taxes and tag fees). Heck, what do you think he's telling his 9 different credit card companies right now about the purchase?!
You gotta be joking about the "... 9 different credit card companies ..." part of your post ........ right? Do people REALLY do that????
I discovered this little bit of trivia when I bought my Range Rover. I currently have a 800 credit score and thought i would get an extremely low interest rate on the loan. When they told me what the BEST interest rate was that they could get me I was totaly shocked at how high it was. I called a friend of mine that works for a different dealership and he said that lenders will often base your interest rate on what you were previously paying before. I thought, whats the point of having a great credit score when they are giving me rates based on when I had a crappy credit score.........lee
My lease is titled with the least company, too. I will only get title when I exercise the option to buy. The car, however, is registered to my name. I thought that was the norm.
I skimmed thru this topic a little bit, and honestly I'm shocked. Roy represents a car to a client as completely "clean". It turns out this car was essentially stolen from the leasing company due to shoddy practice and loop holes in law, and Roy washes his hands and tells his customer to deal with some leasing company... Roy should be the one refunding his customer, suing the leasing company, and securing his reputation. EDIT: Looks like Roy is helping his customer get his car back and is paying for legal fee's. The customer is also very hard to understand and the story is just a big cluster ****. Either way, not a pretty situation. Kinda scares you from buying used cars from any dealership.
This is really the first time I have ever heard of a title problem like this on a car. 360 is far better off that he bought it from a dealer, that bought it from a dealer. If 360 had bought this car from an individual (you would hear "this number has been disconnected"), instead of a dealer who carries insurance, his plight would be harder.
Buying a used car from a dealership isn't the problem. That happens everyday and works out fine. This thread is about a special case where a Buyer was not registering his title (i.e. engaged in at least one scam: getting out of state sales taxes and license plate tag fees). That kept a title "underground" just as if the car was still being traded wholesale among car dealers... ...and *that* became a problem when yet another Party...a prior owner...apparently engaged in a scam of his own by (presumably falsely) claiming that the car in question was stolen months after the car and title had left his possesion. Plus, neither Roy nor the Kid paid the lousy $49.95 for title insurance through AutoCheck or Carfax on the car. So yeah, it's messed up. It's a cluster... compounded by using multiple credit cards in multiple names for the purchase, further compounded by multiple parties in multiple states being involved. But make no mistake; no fewer than two different scams (and perhaps more) were being pulled. All over one car. And none of the Players seemed to have taken even rudimentary steps (e.g. title registration with a state, paying taxes, buying title insurance, holding on to a physical title instead of mailing it out clean when there is a lien in another state on the car, etc.) to protect themselves. So nothing about the deal was an ordinary used car purchase. When you and I buy used cars, we take the clean title down to the DMV, pay our sales taxes, register the car, tag the vehicle with a license plate, purchase AutoCheck title insurance, and then drive merrily on our way with no worries. That's normal. The deal for this Lambo was anything but.
