Bought my first trailer but title is tied up

Discussion in 'Ask An Owner Operator' started by Doing_flatbed_nc, Dec 6, 2017.

  1. Doing_flatbed_nc

    Doing_flatbed_nc Light Load Member

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    sigh. This is a bit of rant. I'm just frustrated.

    I bought a trailer from a leasing company.

    I had it funded by a local truck finance company who I've worked with in the past. The truck finance company also runs a MC so they wanted to drop by to see what else the lease company might have for sale.

    I did the loan docs with finance co then they cut a check to lease company.

    Lease company never sells trailers. This was one of their first sales. The terminal mgr., didn't really know what to do. After he was given the check, he started to write the finance company as the owner on the bill of sale.

    The lender let him know I'm the owner and the lending co is the first lienholder.

    I'm waiting on the title and the terminal manager says we have to wait for corporate to send it.

    Great. I'm now being told that corporate is short staffed and it might take a week or two.

    In the meantime, I can't register or plate the trailer. I can't do anything until that dang title shows up.

    And the title is not even coming to me. It's going to the terminal manager. He should have had it all the time.

    Just frustrated bc I'm down and it's not even bc of a breakdown.
     
  2. superhauler

    superhauler Super Crusty

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    This is what you do.... tell him they need to overnight it next day or give you your $$$$ back. No reason it should take a week. Something doesn't smell right in my opinion.
     
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  3. nax

    nax Road Train Member

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    I call this a self-inflicted wound. Should'a asked to see the title before handing off the check.

    OTOH...

    Why stress about it? look for power-only loads, and grab them, while they sort it out.
     
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  4. Antinomian

    Antinomian Medium Load Member

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    Agreed.

    Some companies that lease trucks do not have the titles to the trucks they lease because the trucks are financed by someone else or leased from someone else. The seller may be playing a game of using your money to pay off their own debt.
     
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  5. Doing_flatbed_nc

    Doing_flatbed_nc Light Load Member

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    Oh I know. It's my fault. Red flags did go off when the terminal mgr didn't understand how a lien works and couldn't produce any docs besides a bill of sale and a copy of the title to take to the DMV.

    I'm running a daycab and it's a bit hard to find power only.
     
  6. nax

    nax Road Train Member

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    what you mean? no one has to know you have a day cab...

    pull up, hook up, off you go.

    need to sleep? find a motel....easy

    I just talked to a broker that wants me to run a 700 mile round trip with 3 stops VA/NC/SC for $1500 (before we even started dancing). I dont have a trailer
     
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  7. Ridgeline

    Ridgeline Road Train Member

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    Yes do this.

    Don't buy the crap about corporate, tell them you want to nullify the sale immediately and you want the money in your hands by the end of the day.

    No excuse for this, it doesn't matter what the terminal manager knows or doesn't know, he screwed it up, he has to fix it.
     
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  8. Doing_flatbed_nc

    Doing_flatbed_nc Light Load Member

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    I would but there's the 3rd party that financed it. The check went from the terminal to corporate.
     
  9. ZVar

    ZVar Road Train Member

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    Then get the financing company on the phone and tell them to cancel the check. It's not a hard thing to do.
    Once they cancel the check take the trailer back and start looking for a new one.
    Heck, go to one of the trailer rental places, sign a 6 month contract so you can get back making revenue, then keep your eyes open for a good deal.
    The fact you are not working over something as silly as not having a trailer tells me you need to adjust your thinking if you ever want to actually succeed as an o/o
     
  10. Ridgeline

    Ridgeline Road Train Member

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    Yeah what zvar said.

    You are the party in control and making the purchases, not the finance company so it is your your call.
     
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