Received Title for a new car???? WTF???

[MustangSVT]

A friend of mine received a title for his brand new ACCORD V6 EX a month ago (after about 4 months of payment).

that comapny sent another letter saying.

"your immediate attention to this matter is necessary to ensure that the lien is placed in favor of Xerox FCU. If the evidence of our lien is not received within 30 days, you may be considered in default of your contract."

the title only has friend's name and address on it.

what does that really mean?


if you want more info, ask, ill post the info from original letter

 

[conjur]

Is your friend's car financed thru, I'm assuming, Xerox Credit Union?

Then it sounds like the title of the vehicle need to be in the name of the finance company or at least show a lien or something? Did the dealership screw up when submitting the title info?

 

[Vic]

Sounds like the dealership screwed up and neglected to put the lienholder (Xerox Federal Credit Union) on the title but still sent the title to the lienholder anyway. Naturally, the CU freaked out.
Your friend should contact both the CU and the dealership to get this matter resolved. He already paid his title fees when he bought the car and he shouldn't have to pay extra (or deal with the state bureaucracy) in order the get the dealership's mistake fixed.

edit: though I think the CU's wording was a little harsh for something that wasn't your friend's fault, the reason why he might be found in default on his loan if he doesn't get this fixed is because the CU hasn't been legally provided with the collateral (the title to the car) that was required in order for them to make the loan in the first place.

 

[notfred]

Why the hell do people randomlywrite words in all caps for no reason? Words like ACCORD.

 

[nitsuj3580]

Originally posted by: notfred
Why the hell do people randomlywrite words in all caps for no reason? Words like ACCORD.

I know I sometimes type to fast and I hit Capslock instead of Shift . I've already typed out the word by the time I really notice it. Seeing how this is an internet forum, I could care less about it, turn off capslock, and just keep typing. I agree typing sentences in all Caps is annoying but a word here or there isn't a big deal.

He also capitalized the entire name of the car, not just Accord. I have seen many of times where someone will post something like this and you'll get someone that asks what kind of car did the friend buy when it is clearly stated. A little emphasis with caps usually prevents that cuz it sticks out.

Back to the thread:
I had the same thing happen when I bought my car a year ago. I just had to send my title to the CU I financed through so they could put their name on the title as lien holder or something like that.

 

[MustangSVT]

what happens if he just keeps the title?

does he even have to make the monthly payments anymore?

 

[conjur]

Originally posted by: nitsuj3580

Originally posted by: notfred
Why the hell do people randomlywrite words in all caps for no reason? Words like ACCORD.

I know I sometimes type to fast and I hit Capslock instead of Shift . I've already typed out the word by the time I really notice it. Seeing how this is an internet forum, I could care less about it, turn off capslock, and just keep typing. I agree typing sentences in all Caps is annoying but a word here or there isn't a big deal.

He also capitalized the entire name of the car, not just Accord. I have seen many of times where someone will post something like this and you'll get someone that asks what kind of car did the friend buy when it is clearly stated. A little emphasis with caps usually prevents that cuz it sticks out.

Back to the thread:
I had the same thing happen when I bought my car a year ago. I just had to send my title to the CU I financed through so they could put their name on the title as lien holder or something like that.

If you could care less, then you care enough to have fixed it.


And, sounds like you all need to find another dealership from which to buy cars!

 

[conjur]

Originally posted by: MustangSVT
what happens if he just keeps the title?

does he even have to make the monthly payments anymore?

Nope...he'll have to find a way to pay the balance of the loan in full!