Vehicle Titles - Let Us Show You The Way Out of the Woods
Due, at least in part, to the downturn in the economy over the past several years, it is not uncommon for car dealerships to go out of business or to file for bankruptcy. When that happens, customers who purchased vehicles from the dealership are often unable to obtain the Certificates of Title to their vehicles. That is because most dealerships finance their vehicle inventory through floor plan finance companies. The floor plan finance companies typically hold the titles until the vehicles are sold and they are paid by the dealership. If the dealership goes out of business without paying the amounts owed to the finance company, the finance company typically refuses to release the titles to the customers until they are paid. The result is that customers are forced to pay for their vehicle a second time or risk being stuck with a vehicle that cannot be driven or sold due to the lack of a title. This is devastating to customers, since a vehicle purchase is one of the largest investments they will ever make outside of purchasing a home.
Meridian Law's attorneys have assisted dozens of vehicle purchasers in this situation and, to date, have been able to recover titles for every customer they have represented. Because of their experience in this area, Meridian Law's attorneys know what documentation is required to support a demand for the release of the titles and can assist their clients in obtaining their titles as efficiently and inexpensively as possible. If you purchased a vehicle in Tennessee and you or your lender have not been provided with the title by the dealership, please contact us so we can help you protect your investment. The sooner you call, the sooner we can get you out of the woods and back on the road.