Buying a car from a friend and the bank originally said they would hold the title for 2 weeks now they say Nov 20th and the paper work went through the beginning of September. Is it the economy or what? Any thoughts?

10/1/2008 6:14:10 PM

Does the name of your bank start with a "W" and end with an "ashington Mutual"?

10/1/2008 6:15:54 PM

Hum, you need to tell us more about the situation.

I've seen them release a title the same day the loan was paid off on a car I was buying. Why would they hold the title after their lien was released? Sounds more like they're waiting for a check to clear to me.

10/1/2008 6:15:57 PM

no, it's between SECU and BB&T. I co-signed with my pops and his credit is pristine so they shouldn't have to check and we already received the difference check. AND my pops sold a vehicle a week earlier using the same banks and they held the title for 2 weeks. makes no sense.

10/1/2008 6:18:45 PM

SECU usually releases titles fairly quickly once a payoff is received and processed. I had mine in hand within a couple of days.

10/1/2008 6:23:24 PM

you need to give us a better explanation of the situation.

10/1/2008 6:23:29 PM

Yeah, you still haven't explained wtf is going on. We've got that you're buying a car from a friend and your dad has good credit..

10/1/2008 6:24:10 PM

We just paid off a car with SECU and had the title in the mail in less than a week of the last payment.

10/1/2008 6:27:38 PM

Well i have 0 prior credit which might be part of it. Went to SECU was approved for the loan and all that and they sent the paper work to BB&T. They released the difference check now they are holding the title for some reason. I called a week ago and SECU got BB&t's paper work back but no title. BB&T said they would release it today but when I called today they said Nov. What info am i missing here? Car is a an 07 charger 24K miles nothing wrong with it.

10/1/2008 6:29:19 PM

dude, you aren't getting it

we don't care about your credit, it has nothing to do with this

we want to know what the fuck the situation is. as in "i owed money on x car at whatever bank, sold it to y person, they paid the bank/whatever via whatever means on blah date, etc"

that is the situation, not your credit score

10/1/2008 7:17:38 PM

I didnt read the thread but it took about 2 months to get the title to my car after it was paid off.

this was bb&t fwiw

10/1/2008 7:20:52 PM

previous owner financed through BB&T had about 13k left to pay (they have title). Sold me vehicle for 13.5k. I take out loan for 15k from SECU near the first of Sept. SECU pays off that loan BB&T and i get a check for the difference. Now I'm waiting for the title to transfer to SECU (i assume i nvr took out a loan b4). Does that help?

10/1/2008 7:47:03 PM

^^^^they have to go through the process of re issuing a new title in your name and ending/transfering the lien. takes some time, this isn't the same as you paid a car off you already own and they're simply clearing the lien. i'm betting a title application was part of the paperwork you filled out. there should be no reason you can't go ahead and register the car, or they might have even already mailed you a plate/registration (or tried to). or maybe you transfered a plate from another car. i don't know. i know you've already got insurance in place, or the loan wouldn't have been approved so that can't be the issue. i'm still failing to see what the issue is here in terms of you using and owning the car legally with no problems? you don't need the title for that, and you might not even be the one to get it. just depends on how secu does it, most of the time the lien holder keeps the title on hand.

[Edited on October 1, 2008 at 7:49 PM. Reason : .]

10/1/2008 7:49:35 PM