The owner tells me it's a state law that he retains a signed title in event a buyer wants to purchase. The dealer is established and been in business many years. Does this seem legit? Why couldn't someone come along, buy the car for an amount unacceptable to me, and drive it away? What protection should I have before doing this?

A specific power of attorney to sign as you in the event of a sale is all I'd agree to. Keep the title blank until money changes hands.

Ask him to specify the law he is relying upon. If he can't, then no titles for him!


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I would not hand over the title until cash was put in my hand.

There was a used car dealer around here in the mid 2000’s that played that game. One of my work friends consigned his modified 4X4 truck to his lot and handed over his title with a bank lien.

Dealer sold the truck, “paid” it off with a bad check and received a lien release from the bank. He then forged the prior owner’s signature and collected the money from the new buyer and the new lien holder. By the time the payoff check was found to be no good the vehicle was registered to the new owner. And again and again.

Previous owner may or may not have known it was sold but certainly found out when the lien holder notified him or her that the payoff check was NSF. The state reviewed the seller’s signature on the old title and it was proven to be a forgery.

Lot owner was prosecuted and convicted on over twenty counts of similar fraud, sentenced to 30 years but got out in way less time. Work friend was on the hook for about 7k owed. At least in his case he attempted to sue in civil court with no luck.

you had choices, either you trust the dealer or you don't!!

if you're not available 24/7, to drop whatever you're doing, to sign the title over...do you want to make the sale or not??

I do not see where the title is required by law to be at the dealer before for sale in virginia but here you go.

https://law.lis.virginia.gov/v...15/section46.2-1531/

They can hold the unsigned title to be sure you have that available.
When it’s sold, you go there and sign when they give you the money.
They’re protected and the buyers protected that way because they’re holding the funds until you sign the title over.
If this dealer is a major brand franchise dealer, not Joes used cars or similar, I wouldn’t be too worried.

I cant believe there is such a law. What happens if you have a loan on the car and the bank has the title? You cant consign the car? This makes no sense.

At a minimum, you should have a written consignment agreement specifying the conditions of a sale, including the price and how much the dealers commission is.

Even with a consignment agreement, I still wouldn't do it. Once you sign that title you have no control over what happens to your car. If a buyer cant wait 24 hours to allow the paperwork to get done, too bad, he doesnt get the car. If something happens, you'll have to hire a lawyer, go to court and spend lots of money.

Yeah, nah.
He can call you to bring the title in when the sale is made.
Too much room for him to flip flam.

What dealership was this Rog? Did you check CarMax we have one super close.

quote:

Originally posted by Skins2881:

What dealership was this Rog? Did you check CarMax we have one super close.

I sold a car last month. Did not want to mess around with tire-kickers, just wanted it over and done with.

CarMax gave me a ludicrous lowball offer.

The Ford dealer where I originally bought the car, and where I bought its replacement, made a similarly ridiculous lowball offer.

I checked with a company that buys used vehicles, expecting either a scam or another low offer, and to my total amazement, they offered more than double what CarMax and the Ford dealer offered. They were efficient and courteous, neither of which I expected. They processed the deal quickly and I was out the door with check in hand in about twenty minutes. All in all, a very pleasant surprise.

The company, with a name that really led me to expect the worst, is https://www.webuyanycarusa.com

quote:

Originally posted by V-Tail:
I checked with a company that buys used vehicles, expecting either a scam or another low offer, and to my total amazement, they offered more than double what CarMax and the Ford dealer offered. They were efficient and courteous, neither of which I expected. They processed the deal quickly and I was out the door with check in hand in about twenty minutes. All in all, a very pleasant surprise.

The company, with a name that really led me to expect the worst, is https://www.webuyanycarusa.com

I can second this review on we buy any car.

A while back, sold a Chevy HHR.

Went on line, listed all the deets with them, offer came back very good. I thought there had to be a catch. The local office was only a few miles away.

Showed up expecting a hard time, did the paperwork, got a check…bada bing bada boom, done deal.

Wanting to see that the title is clear, in your name only and with no lienholders is OK. Wanting to keep the title, unsigned, is a gray area. There is nothing to prevent someone from simply signing it off; the DMV won't know the difference. Wanting to keep a signed title is a red flag. That sounds like a great way for someone to simply sell the car and pocket the money, or even abscond with it altogether.

Numerous scammer lots steal and sell cars this way.

I'd be wary of consignment unless it's someone you really trust.

Consignment horror story.

Years ago a buddy wanted to get a new motorcycle. He put his old one, which was a well tweaked Suzuki 1200. Some kid 'bought' it, rode from the dealership to his bank and cancelled the check. They found the bike about a week later with bald rear tire, a tortured drive chain, and generally a lot worse for wear. Only way to recover anything would be to sue the kid. He ended up cleaning it up, spooning on a new tire, and he traded it in.

No way, 'state law' or not, would I sign a title until I was presented with a deal I found adequate, with cash or other secure payment in sight.

How, one wonders, would you ever get that valuable piece of paper back, in the scenario that the car hadn't sold in a reasonable time frame? Or prevent the dealer from accepting a price you didn't approve of?

No, this is just a negotiating tactic whereby they want all the power and authority to make themselves money with your hardware.

If it is a 'state law' (seems unlikely, from the post above - at least that particular law doesn't require it) then you might contact your reps in the state legislature and ask them if they could author/sponsor corrective legislation.