r6allstar Posted May 12, 2008 Report Share Posted May 12, 2008 OK.. so I have this truck that I dont have a title for. Long story short.. went into business with somebody, used truck as collateral on loan, guy splits with profit, bank has title and wont release it.My questions is this.. what the fuck do I do with the truck? I am NOT going to pay off this guys loan for him and I have no use for the truck. I have called the bank and told them to come pick up the truck and they said they dont want it either lol. I guess I could scrap it or take it the junkyard but it isnt a bad truck so I would hate to do that with it, the thing runs great and doesnt have a speck of rust on it. Anyway.. any other suggestions? Probably hard to sell a truck without a title I am guessing. Trade it for something maybe.. I dunno. Quote Link to comment Share on other sites More sharing options...
John Posted May 12, 2008 Report Share Posted May 12, 2008 drive it into guys living room. Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted May 12, 2008 Report Share Posted May 12, 2008 Its possible that you may be able to file a mechanics lien against the vehicle. If you can, and the amount he "owes" you is greater than what the bank is willing to pay, they will most likely not answer the lien and when a certain amount of time passes you can apply to the state and get a title for it.We did it a few times at the shop when guys wouldn't pay their bills. There are a bunch of "rules" you have to follow, but if you do it all works out in the end.I'd say check with the BMV and see what you can do. Quote Link to comment Share on other sites More sharing options...
flounder Posted May 12, 2008 Report Share Posted May 12, 2008 Whos name is the loan in on the truck.. You dont want to go F'ing up your credit. Quote Link to comment Share on other sites More sharing options...
Dweezel Posted May 12, 2008 Report Share Posted May 12, 2008 what year is the truck? what kind? Quote Link to comment Share on other sites More sharing options...
yotaman88210 Posted May 12, 2008 Report Share Posted May 12, 2008 You could part it out... Quote Link to comment Share on other sites More sharing options...
r6allstar Posted May 12, 2008 Author Report Share Posted May 12, 2008 The truck is a mid 90's Extended Cab S-10. The loan isnt in my name so credit isnt an issue. I will call the BMV today and see if they can help me. I also thought about parting it out or just selling it as a no-title parts truck. Or maybe just trading it for a quad..dont know yet. Quote Link to comment Share on other sites More sharing options...
Benyen Soljax Posted May 12, 2008 Report Share Posted May 12, 2008 Its possible that you may be able to file a mechanics lien against the vehicle. If you can, and the amount he "owes" you is greater than what the bank is willing to pay, they will most likely not answer the lien and when a certain amount of time passes you can apply to the state and get a title for it.We did it a few times at the shop when guys wouldn't pay their bills. There are a bunch of "rules" you have to follow, but if you do it all works out in the end.I'd say check with the BMV and see what you can do.this sounds like the best idea... Quote Link to comment Share on other sites More sharing options...
r6allstar Posted May 12, 2008 Author Report Share Posted May 12, 2008 Its possible that you may be able to file a mechanics lien against the vehicle. If you can, and the amount he "owes" you is greater than what the bank is willing to pay, they will most likely not answer the lien and when a certain amount of time passes you can apply to the state and get a title for it.We did it a few times at the shop when guys wouldn't pay their bills. There are a bunch of "rules" you have to follow, but if you do it all works out in the end.I'd say check with the BMV and see what you can do.but can someone who doesnt own a business do this? Quote Link to comment Share on other sites More sharing options...
Benyen Soljax Posted May 12, 2008 Report Share Posted May 12, 2008 but can someone who doesnt own a business do this?plenty of people on this site seem to own their own business if they give you any trouble. Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted May 12, 2008 Report Share Posted May 12, 2008 I dont really know. I'd check with the BMV. Actually, I'm surprised that the bank doesn't want it back. Quote Link to comment Share on other sites More sharing options...
r6allstar Posted May 12, 2008 Author Report Share Posted May 12, 2008 ^yea that is what I thought too.. I called them and said.. "hey, I cannot do anything with this. I cannot sell it and i dont want it. Where do i drop off the keys?" And they said, "umm no" lol So here I am. Quote Link to comment Share on other sites More sharing options...
Goldie Posted May 12, 2008 Report Share Posted May 12, 2008 I am pretty familiar with titling and lien processing, but I would neet a bit more info. Whos name is the title in, which bank holds the lien, whos name is on the loan itself. just some more details would help. Let me know, and I will try to give better feedback, if nothing else I could contact the title services team here at BMW and ask them, if I don't know. Quote Link to comment Share on other sites More sharing options...
zerocrash Posted May 12, 2008 Report Share Posted May 12, 2008 I am pretty familiar with titling and lien processing, but I would neet a bit more info. Whos name is the title in, which bank holds the lien, whos name is on the loan itself. just some more details would help. Let me know, and I will try to give better feedback, if nothing else I could contact the title services team here at BMW and ask them, if I don't know.I was wondering if you worked for BMW since you have BMW Financial Services in your username. So I guess you do. Quote Link to comment Share on other sites More sharing options...
r6allstar Posted May 12, 2008 Author Report Share Posted May 12, 2008 I am pretty familiar with titling and lien processing, but I would neet a bit more info. Whos name is the title in, which bank holds the lien, whos name is on the loan itself. just some more details would help. Let me know, and I will try to give better feedback, if nothing else I could contact the title services team here at BMW and ask them, if I don't know.PM sent Quote Link to comment Share on other sites More sharing options...
exSRAaron Posted May 12, 2008 Report Share Posted May 12, 2008 Give it to me I'll use it, of course not on public roads tho Quote Link to comment Share on other sites More sharing options...
Goldie Posted May 13, 2008 Report Share Posted May 13, 2008 Yeah I work for BMWFS. Totally a good company to work for. I started with them in September of 2007, and just started my 3rd different position today, this one was a bit of a promotion, so thats always cool. I sent R6allstar a bit more info in a PM, but still wondering a few other pieces. The girls in the title department really know their shit, so I will wait for his response, and talk to them tomorrow. Hopefully we can get something figured out for him. It sounds like a weird situation to be in, so I wouldnt really know what to do either. Quote Link to comment Share on other sites More sharing options...
r6allstar Posted May 13, 2008 Author Report Share Posted May 13, 2008 Give it to me I'll use it, of course not on public roads tholol consider it done! Yeah I work for BMWFS. Totally a good company to work for. I started with them in September of 2007, and just started my 3rd different position today, this one was a bit of a promotion, so thats always cool. I sent R6allstar a bit more info in a PM, but still wondering a few other pieces. The girls in the title department really know their shit, so I will wait for his response, and talk to them tomorrow. Hopefully we can get something figured out for him. It sounds like a weird situation to be in, so I wouldnt really know what to do either.Thanks for the help!Still working out the details but this is a real wierd situation as of now.. I guess the guy filed for bankruptcy so there might be some negotiations done between us and the bank I guess. I dont know. Quote Link to comment Share on other sites More sharing options...
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