Title question

NYSpeed Automotive
1

So I searched but but nothing similar. Like title says I have a title question. I traded my car today for another and the owner said he did not have title but filed for a new one. In collateral he gave me a title to one of his other cars. On the bill of sale he mentioned that the title still had to come in and I have not received it. Am I covered by that if something were to go wrong? I just don’t want to get screwed out. Any help would be great

2

Really bad move. Never make any transactions without signing the title over… Hopefully this guy doesn’t bail on you and leave you with 4k pounds of scrap…

3

Yea just realized it. But if he put it on bill of sale shouldn’t that mean something?

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And I have a title of his

4

he could just spend $20 to duplicate the title at dmv if you decided not to return it.

5

He signed it if that makes a difference

6

I wouldn’t worry about it. People are generally decent and not out to screw you while giving you a pile of paperwork to implicate themselves. I would have made sure you out down a time line on the paperwork though, also withheld some cash until the title was delivered. If it takes him a year to produce a title and you didn’t indicate a time line on the papers signed, then you will have a tough case if it went that far.

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What did you buy? How much money exchanged hands? What kind of car? What neighborhood were you in?

7

It was a straight trade no cash involved but wrote bill of sales. Cars are worth about 4500-6k. I was in Amherst but this guy drove 4 hours to me.

8

Have the cars officially been swapped then? As in, did he leave with your car and you now have his?

9

If he files for a new title for the one of his in your hands, it’s now invalid. Just so you knew.

10

I agree with Justin, it takes 10 days or so to get a duplicate after a couple weeks I would start to worry.

11

Yes we exchanged cars. Yeah I guess it’s a waiting game. Just really wondering if I could be cometely screwed but we will see. Thanks guys

12

That is interesting, hope it all goes smoothly in the end.

13

who knows if he even owns the car you got from him?

14

So you post this after the “deal” is done?

You weren’t nervous the whole time leading up to the deal?

I hope it works out for you but if it doesn’t, I have a bridge I am looking to sell.

15

So nervous you forgot the “pl”.

16

I hope he didn’t trade you a stolen car.

I’m sure it will work out okay, I hope you copied a few forms of his ID at least.

17

Did you withhold your title until you receive his title at least?

18

Yeah I have his information and license etc. I’ve been in contact which is good but lesson learned.

19

I would never do a transaction without having all paperwork.

I did it once, major PITA. did a trade for a vehicle a guy had raced (never registered in NYS) got a bill of sale from original owner, cert of origin and contact info for original owner. vehicle was purchased in a state that didn’t require reg or title…just cert of origin and bill of sale. original owner never once picked up or responded. ended up having to contact the financing institution that original purchase loan was through, convince them to send me a copy of lein release due to no response from that original owner, then had to get a bill of sale from the guy in NYS that I got the vehicle from, then I had to write a bill of sale to the guy I sold it to, who was Canadian. had to gather up all paperwork so he could take to boarder when he imported into Canada. I have no idea what he had to go through to get it registered in Canada, but I do know that he had some hassle at the border and I can say it sucked trying to get all the paperwork.

20

:oj: