Trading a car you own for a new one. Title question

JROC · 11-27-2019, 08:27 PM

I recently traded in my old 02 SS for my new SS 1LE. When I did I didn't yet have the title, but got it about a week and a half later. The thing is, is that the dealer wants me to send it to them, but not to sign it.

WTF? That make zero sense to me. Does this sound right to anyone? If so why wouldn't they want me to sign the title over to them for a car I traded in on one I bought from them?

Trochoidal · 11-27-2019, 08:34 PM

Yes it makes sense if you signed a power of attorney document when you were finalizing the deal. Beyond that it makes no sense.

ScatPack · 11-27-2019, 10:14 PM

If you sign it, then they have to title transfer it to them and pay the taxes for it. If you don't, then they can resell it (wholesale probably), without paying or charging taxes. This is done on dirtbikes and motorcycles quite a bit at dealers.

https://blog.suretysolutions.com/sur...t-on-the-title

ScatPack · 11-27-2019, 10:17 PM

The more I think about it, I bet someone close to the dealer or even an employee wants your car and they are going to wholesale directly to them. That would make sense. That way the next party can buy it with cash and not pay taxes to the dealer at the normal rate.

Johnny6.1 · 11-27-2019, 10:23 PM

As previously stated if you signed a power of attorney they can essentially endorse it for you. Depending on the state, some titles have a few different lines to sign on. If you sign on multiple lines or in the wrong spot, it causes headaches for dealers. Hope this helps

JROC · 11-28-2019, 08:38 AM

Okay, thanks guys.

So if I don't sign it like they wish then I'm not doing anything illegal, or something that could turn around and bite me on the butt?

BTW I know if I've signed a power of attorney. I don't have anything in my paper work saying it's a power of attorney, but maybe that's something they keep and I don't get?

17rsvert · 11-28-2019, 08:47 AM

Quote:

Originally Posted by JROC

Okay, thanks guys.

So if I don't sign it like they wish then I'm not doing anything illegal, or something that could turn around and bite me on the butt?

If there is any doubt on your part, ask them to send you specific WRITTEN instructions of how you should hand over the title. If they are asking you to do something shady, I'm sure they won't put it in writing.

11-27-2019, 08:27 PM	#1
JROC Account Suspended Drives: 19 Camaro SS 1LE, 03 Ford Lightning Join Date: Nov 2019 Location: South Carolina Posts: 334	Trading a car you own for a new one. Title question I recently traded in my old 02 SS for my new SS 1LE. When I did I didn't yet have the title, but got it about a week and a half later. The thing is, is that the dealer wants me to send it to them, but not to sign it. WTF? That make zero sense to me. Does this sound right to anyone? If so why wouldn't they want me to sign the title over to them for a car I traded in on one I bought from them?

11-27-2019, 08:34 PM	#2
Trochoidal Drives: 2017 Camaro 2SS A8 Join Date: May 2019 Location: USA Posts: 1,656	Yes it makes sense if you signed a power of attorney document when you were finalizing the deal. Beyond that it makes no sense. __________________ Roto-Fab w/sound tube delete, Katech ported TB, Pray IM, Velossa, DD side markers, DSX FF, UPR Catch can, Halo brace, My custom vent gauge pod Originally Posted by arpad_m - “Aww, yet another oil thread with almost the same question in the OP“

11-28-2019, 08:38 AM	#6
JROC Account Suspended Drives: 19 Camaro SS 1LE, 03 Ford Lightning Join Date: Nov 2019 Location: South Carolina Posts: 334	Okay, thanks guys. So if I don't sign it like they wish then I'm not doing anything illegal, or something that could turn around and bite me on the butt? BTW I know if I've signed a power of attorney. I don't have anything in my paper work saying it's a power of attorney, but maybe that's something they keep and I don't get? Last edited by JROC; 11-28-2019 at 08:48 AM.

11-27-2019, 10:14 PM	#3
ScatPack Banned Drives: None at the moment Join Date: May 2018 Location: Florida Posts: 284	If you sign it, then they have to title transfer it to them and pay the taxes for it. If you don't, then they can resell it (wholesale probably), without paying or charging taxes. This is done on dirtbikes and motorcycles quite a bit at dealers. https://blog.suretysolutions.com/sur...t-on-the-title

11-27-2019, 10:17 PM	#4
ScatPack Banned Drives: None at the moment Join Date: May 2018 Location: Florida Posts: 284	The more I think about it, I bet someone close to the dealer or even an employee wants your car and they are going to wholesale directly to them. That would make sense. That way the next party can buy it with cash and not pay taxes to the dealer at the normal rate.

11-27-2019, 10:23 PM	#5
Johnny6.1 Drives: Camaro 1SS 1LE Join Date: Jun 2019 Location: Nor Cal Posts: 29	As previously stated if you signed a power of attorney they can essentially endorse it for you. Depending on the state, some titles have a few different lines to sign on. If you sign on multiple lines or in the wrong spot, it causes headaches for dealers. Hope this helps

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