So my credit union approved me for a loan here in Texas.

The car is located in Missouri.

The credit union said they cannot complete the loan because the title is not is the dealerships name.

The dealership told me they do not put the title in their name, however the title is signed on the back by the previous owner along with the dealerships name on the back as well. The dealership also told me the lien release is attached to the title.

The finance director told me she has worked in this business for 27 years and has never had this issue arise, as the dealerships she has worked for never put the title in their name.

Can anyone give me some information about this, or possibly explain what I would need to do?

Im really trying to get this car but this issue is crazy.

 

Your credit union doesn't know what the hell they are talking about. Dealers don't transfer titles into their name, they just assign them. I've ran into this before, whoever you're dealing with at the credit union thinks that you're buying from an individual, you need to get a supervisor involved.

 

So the credit union is at fault here then?

I'll contact them on Monday and ask for a manager and explain.

I'm assuming the manager should be able to get this sorted out?

 

I'm also currently in the process of buying a used car from a dealer out of state. My credit union has gone down hill over the last few years. I ended up using State Farm for financing. It was super easy, the rates were better than my credit union and just as good as the banks I researched online. Free gap insurance and you do not have to be insured by State Farm to get the loan.

Good luck.

 

I did not know State Farm has financing available.

Appreciate that info Ross.

BTW, I know you sold your V (I should have bought it) , what are you looking to get now?

 

Looking at a Chrysler 300 SRT8.

 

I used amoco for my corvette but State Farm in the past and they were very easy to deal with, and we have insurance through them as well so I can just go to the office if I have questions about anything.

 

I used State Farm once before and I had zero issues at all. Good luck and hope you can get the car!

 

Yes, the credit union is at fault. They are thinking that you are buying from an individual, not a car lot.

 

Well,

State Farm is the winner.

Just finished up with them today and overnighted check. No issues at all.

 

I can't believe you had an issue at all. Don't they know who the hell you are? Ha

 

I know.

So I went into the credit union afterwards and had to put everyone to sleep with my punch combinations.

All the while playing my theme song on my phone.

 

Hell yeah! LOL

 

What a get?