Just read this on Youtube and I'm surprised to hear this. Is this a common thing?
"A popular scam around here is. A person owns a car free and clear, files for a lost title, uses the replacement title to get a title loan, then sells the car to a unsuspecting buyer and gives them the not lost title. The buyer is unaware of the lien until they try to transfer title at DMV. Meanwhile seller disappears with cash, and repo company takes the vehicle"
If this is true and is happening, then even the original title in hand means nothing if you are buying from a scammer. How would you know?
"A popular scam around here is. A person owns a car free and clear, files for a lost title, uses the replacement title to get a title loan, then sells the car to a unsuspecting buyer and gives them the not lost title. The buyer is unaware of the lien until they try to transfer title at DMV. Meanwhile seller disappears with cash, and repo company takes the vehicle"
If this is true and is happening, then even the original title in hand means nothing if you are buying from a scammer. How would you know?