M
M. Varner
Guest
California:
I purchased a vehicle that was financed. Two months later the finance company had still not retained the title from the seller and the seller went out of business. The owner of the vehicle (the broker) never received payment from the seller and therefore repossessed the vehicle. The finance company refuses to pay the broker as I believe it is their position they paid the seller. The finance company insists I continue to make the payments on a car I do not have on a loan that the cannot provide me with ownership of.
Do I have an action against the finance company for financing a vehicle without obtaining ownership rights and then ruining my credit because I refused to continue to make the payments when the actual owner took possession of their property?
I purchased a vehicle that was financed. Two months later the finance company had still not retained the title from the seller and the seller went out of business. The owner of the vehicle (the broker) never received payment from the seller and therefore repossessed the vehicle. The finance company refuses to pay the broker as I believe it is their position they paid the seller. The finance company insists I continue to make the payments on a car I do not have on a loan that the cannot provide me with ownership of.
Do I have an action against the finance company for financing a vehicle without obtaining ownership rights and then ruining my credit because I refused to continue to make the payments when the actual owner took possession of their property?