Storage Auctions

Vehicles with Lien Holder

Vehicles with Lien Holder
« on: January 25, 2011, 08:38:44 PM »
I'm located in Orlando, FL.  I've read the majority of the posts on the site and have not come across any information on this topic.  My concern is purchasing a locker that contains a vehicle i.e. cars, jet ski, 4 wheeler, boat that has been titled and has a lien holder still holding the title to the property.  If there are previous posts regarding this topic I apologize in advance.  Any information would be greatly appreciated, just doing my due diligence here and didn't feel like calling the DMV, we all know why.  I'm thinking laws would vary state to state, so any insight on Florida would be great.

Thank you

Offline Drew

  • Admin
  • *****
  • 728
    • View Profile
    • Online Storage Auctions
Re: Vehicles with Lien Holder
« Reply #1 on: January 25, 2011, 09:16:28 PM »
Good question, I've never dealt with vehicles but hopefully someone on here has the answers

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: Vehicles with Lien Holder
« Reply #2 on: January 25, 2011, 10:11:58 PM »
Sorry, no info for Florida but apparently DMVs everywhere are a pain to work with.
I'll give you the short version of a DMV story though.

I actually got pretty good help here in California trying to get the dope on a Honda Quad I got in a POD.

The trouble came in dealing with Honda Finance. They had archived the account on the 2000 quad indicating they weren't pursuing it in 2010. HOWEVER, they would not give me a release of interest saying they needed to hear that from DMV. DMV said they could not do that unless they had something in writing from Honda Finance. It was a catch 22 of massive size.
The Honda Finance office in Georgia (as I remember) wasn't too helpful for sure, but I finally got ahold of a VP
here in CA and the next day I had a FedEx package in my hands thanks to his phone call to those jerks to free it up to me.
Took 11 months of going back and forth with DMV (several differenct branches within the SAC office) and then of course the Honda Finanance aspect.
It only took 10 days to sell it though and this thing (though 10 years old) looked like it just came off the assembly line. I got $2600 for it.

Re: Vehicles with Lien Holder
« Reply #3 on: January 25, 2011, 10:31:50 PM »
Do what tow companies do. Inform them via certified mail that they will be charged $50-$100 (depending on what you want to charge) per day for storage. Also inform them that if they do not respond within 30 days they forfeit their rights and are required by law to free up the title. Get a lawyer to draft a master letter or check with your local tow companies (very similar circumstances)


xx
Flask/Shot Holder Etc

Started by Fayettenam Man

15 Replies
7323 Views
Last post July 12, 2014, 12:36:33 PM
by Alias300
xx
What is a Non-Lien Sale?

Started by Travis

0 Replies
6372 Views
Last post January 29, 2014, 11:11:42 PM
by Travis
xx
Totaled Vehicles

Started by Travis

3 Replies
3906 Views
Last post February 18, 2013, 02:39:52 PM
by Alias300
xx
Do you bid on vehicles at auctions?

Started by Travis

5 Replies
3569 Views
Last post February 23, 2014, 10:09:06 AM
by dbr831