06-28-2009, 02:06 AM
August West wrote:
I'm confused about not having the title. Every vehicle I purchased with a loan I've possessed the title. The Bank or finance company is simply listed as a lien holder. One would clear the lien to transfer title.
It probably varies by state - but honestly it's been over 15 years since I bought one that had a lien on it.
Either the current owner or the bank has the title if the deal is legit.