Auto Sale, Bank Loan. Auto Accident, No title

Status
Not open for further replies.

phenom65

New Member
My jurisdiction is: California, Riverside, County

I bought a 2003 Chevy Tahoe in Feb 08. I financed through Navy Federal Credit Union. Navy Fed cut a check to S.C. Auto Resale in Anaheim, Ca.(the check was written out to them) Apparently Navy Fed never recived the title from S.C.. S.C. went out of business shortly after the purchase and they never sent Navy Fed the title. According to the DMV, neither me nor Navy Federal have the title/owns this vehicle and I am still paying bi-weekly for this loan. In Nov 2008 I was rear ended by a motorist that was not paying attention and it states this clearly on the CHP police report. My vehicle was totaled and the guy who hit me's insurance was supposed to cut me a check for the accident. We found out that the truck's title wasn't allocated to anyone (Navy Fed or me) so his insurance said they wont pay until this gets resolved. We went to the DMV to figure out what is going on and they told us to file a "DMV investigation" and they will get back to us after 4 weeks! We filed and now we wait. I am still paying bi-weekly for this totaled truck that nobody owns. Navy Fed told me that I still have to pay because we did get the loan from them. I thought they had some responsibility to obtain the title from the dealership.

My questions are:

-Isn't the bank who supplied the auto loan supposed to insure that they recieve the title as the lien holder of the title?

-Isn't the car dealership supposed to send the title to the bank who financed the vehicle?

-Is it my fault the title never got transfered from the dealer to the bank?

-If either of these institutions dropped the ball do we have a lawsuit?

-Will the insurer of the vehicle who hit me drop the value of the payout because the DMV will take their sweet time to square away what is going on?

-Do I just have to take this, is there ANYTHING I can do?
 
Status
Not open for further replies.
Back
Top