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What does it mean if you get the title before you've finished paying for a car?
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What does it mean if you get the title before you've finished paying for a car?

I cosigned for a friend of mine, he made a down payment. I got the TITLE in the mail and there are still 48 months of payments left.
Does that mean that you own the car and don't have to make any payments or what?


    




stephen c
You are the cosigner? not the lender? The title should be in the hands of the lender. Look at the title, is it free of liens? If so, they screwed up and he could sell the car if he got the title, or got a replacement from the DMV, and you my friend have cosigned, so you will be the payor. Get this fixed and dont give it to your friend.


loves christmas lights
No it does not. They will request it back, it will then be forwarded to the lein holder. Call them up yourself and get this put all right so you dont get into trouble with this situation.


golden rider
Rating
Sounds like the dealership made a mistake. It was supposed to go to the dealership or person making the loan. I wouldn't stop making payments. It's just a formality.


TQH
I think a mistake was made. The car would have to be paid off in full before you get title.


tronary
I had this happen. You own the vehicle. Don't let 'em talk you out of it. You must still make payments and pay for it. The problem that makes the lien holder unhappy is that he has no colateral.


deepeaceful
Rating
WELL....Somebody at the DEALERSHIP have SCREWED UP BIG TIME!.......





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