I received a deposit on a car I have a loan on through Regional Acceptance. Getting a hold of these people has been a nightmare! I finally got a hold of them today and found out my payoff is $4k HIGHER than it should be based on every amortization schedule I have found. I tried getting a hold of the branch manager to no avail thus far.

My bigger issue is that they are telling me it could take 3 weeks to get the title! That is not acceptable. Does anyone have any advice for me as to what I can do to get it quicker?

Anyone?

did you explain the situation to the person buying the vehicle?

also since you say the payoff is 4K higher than what it should be.... the amount your selling it for.... is it enough to cover the balance of the loan?

I haven't told the buyer yet in hopes I can get this figured out first. I do have enough to cover the loan, that's no the problem...I just don't feel the payoff is the correct amount. I'm going to try to get ahold of the branch manager again on Monday, worst case, i'll make the 1 hour drive to DE and wait outside his office.

I'd seriously doubt the local office would have the title.

If you are in a state where there are still actual paper titles issued, then the lender probably has a central repository they order it from, probably about 10 days or so after your payoff check clears.

That seems reasonable from what others have told me about receiving their paper titles when they payoff a vehicle.

If you have your copy of your RISA and if you made every payment EXACTLY on the due date, neither late, nor early, then take line 6 of the RISA and run the AM Schedule and you should be very very close.

Ammortization Schedules never take into account the initial float of 30-45 days interest until you start making payments that I know of, but still, if all payments were made on time, neither late, nor early, an AM schedule should be very very close.

Thanks for the info Marv. Most of my payments were made early so i'm not sure what effect that would have...not negative i'd assume.

I'm in PA selling a car to someone in VA...what can I do to allow them to get the car registered in the mean time considering it can take a couple weeks to get the title? I can't believe how difficult they make it.

Well, I'm sure you have to provide your purchaser with a Bill of Sale and you will need to sign off on the title when you get it.

In Florida when a vehicle has a payoff (obvious title not being present), we have special Secured Powers of Attorney, that we can use to facilitate transfer of ownership.

I'm sure PA and VA have different form from what I am used to using down here.

This person is counsel in Arlington. Stephen Levine, 817-869-9230. He doesn't answer often and have clue if he would call you back.

I'm in VA - You do not have to have the title, or even be the owner, in order to register the car, but I'm not sure what the procedure is - you can call Virginia DMV (they have a good website) and they can tell you what paperwork he needs to have with him in order to get either a regular or temporary registration.

ty breeze. I certainly did not know that.

I decided to just run this sale through a friends car dealership so they can put a temp tag on it. It'll be easier that way. I don't have time to deal with VA DMV unfortunately and I've found conflicting info on several sites whether or not I need a title to register a car down there.

My dealer idea fell though because the buyer is not present and they don't want to do it via FedEx. Great.




I called the VA DMV and they said that the registrant MUST have the title to get temp or regular registration. No exceptions.