Overhaulin'

What can I do if my lien holder on my new car doesn't actually hold title to my car but wishes to collect?

I bought this brand new Mazda from a shady dealership who failed to pay off my trade-in vehicle, and submitted a Retail Installment contract to the alledged lienholder yet they never registered and submitted the registration or title, also they were selling cars "out of trust" from their own bank; So 22+ other people got screwed also and the dealership has no money so no one can sue them for damages. These guys owe about 300,000 of unpaid liens from trade-in vehicles including mine. Now I got an attorney but the bank who at the moment holds no lien on the title since the title doesn't really exist in the DMV or the State is harassing me to make payments as my lawyer is trying to resend the deal and break the contract because the dealer breached it by not paying off my old car which in Florida if a dealer fails to pay a trade-in lien on a car after 30 days it is consider illegal. They even sold my old car without having the title from the lienholder which they failed to pay to.

Public Comments

1. ask ur lawyer...u do have one right!!!!
2. Tell them to go to hell. You no longer own the car (the one you traded in). Let the bank sue the dealer.
3. It sounds like you have already done everything you can. The lawyer will have to handle it from here. Sometimes the dealers will sell the loans to banks for a discount on the Principal and that's why they are getting into the act. Even though someone does something illegal, it doesn't mean that you are in the clear either. You can get a judgment against someone but if they don't have anything, then it is a paper judgment and you'll never collect.
4. They should go after the dealer not you. There is apparently several people that are in the same boat so that should say a lot about your situation. Your lawyer should be fighting for your rights and making sure your not getting screwed!!
5. Just send DMV a release of liability form and explain the situation to the bank and give them as much information you can about the "shady" dealership and let your lawyer take care of the rest