Used Car Lienholder problem

[msholtes]

What is the name of your state? Florida.

In Feb, 2003, I co-signed with my son on a used car from a local lot. Last month the Title for the car showed up in the mail accompanied with a letter stating the lien had been satisfied.

Today I got a letter from the car lot saying the title had been sent in error and that I needed to send it back to the car lot. I agree there was an error, but am I obliged to correct it? Do I even need to keep paying for the car?

It's not often that the consumer gets a break on a used car, I sure would like to take advantage of this. Especially with an interest rate of 23%!!!

 

[racer72]

Return the title. The contract you signed overides the mistake. Believe me, you do not want the hassles you would cause by not sending it back or to quit paying on the car.

 

[msholtes]

Thanks

All my redneck friends say just the opposite, but I expected that.

Could I use the error to bargain a lower interest rate from them? I only ask because the language in the letter they sent me suggests concern on their part...

 

[racer72]

Their concern is they don't want to go through the hassle of suing you then trying to collect. They hold all the cards in this case, you really have no standing for any bargaining.