Overhaulin' - can you make payments to a title loan company even if you dont have the car anymor?

can you make payments to a title loan company even if you dont have the car anymor?

About 2 years ago i took out a title loan for $1,500.00 and i didn't pay it off. I traded my car to a guy for another one and he took it even though i didn't have a title and he knew there was a lien on it. Can i still make payment? or what will happen?

Public Comments

you still can pay it but you probably owe 6000 or more with the interest a title loan charges they should be looking for the car they might have reported it stolen
You traded a car with a lien on it? Oops. "he took it even though i didn't have a title and he knew there was a lien on it" - He's a moron. He should know it would never be his car until the lien is paid. He either doesn't care or he never plans on transferring ownership. Better get that car back... the guy you traded with can never register the car in his name, nor ever transfer ownership until that lien is satisfied. And, like the poster above said, the interest on that title loan has probably ballooned WAY out there. Only one way to find out, and that's to call the title loan place. People need to REALLY look into the consequences before just making some impulsive trade. At this point, the title loan is probably in default and the lender can take the car if they wish. You don't just trade the car off and wash your hands of the debt.
Of COURSE you can still pay. If you told them you traded it, however, you could go to jail. Yes, I wouldn't tell them and i would pay it off. But, I prefer to live OUTSIDE of jail. You might prefer free room & board & sex. Whatever you do, dont tell the title loan place you traded it. They are probably looking for it as we type. But, frankly, at this point, I cant see any reason to pay. The problem is the guy that has it will never be able to register it or buy new tags. If the title loan place finds out you sold or traded the car they have a lien on, they can have you arrested and then a judge would pretty much FORCE you to pay or you would get 6 months or so in jail.