Do I still own my vehicle?

Question

I traded it at a dealership for a newer vehicle. The title has not been transferred and is still in my name.

I believe I could go to their lot and drive the vehicle off and not be liable to return it to them until the title has been transferred.

I wonder if the police would see it that way, or am I in for "Hands in the air! Get on the ground" knee in the back, handcuffs, grand theft auto charge?

Answer 1

On the sales contract for your newer car, the trade in car is listed as a down payment and therefor is as good as a bill of sale and you would get the "Hands in the air" treatment. The title may not even get changed over to a new owner until the car resells and the new buyers name is put on it. If the car cannot be resold then the title will probably never get transferred. I'd leave the car alone and enjoy your new car! Happy motoring!!!

Answer 2

If you traded it in, they have paper work to prove it is NOT yours.

They will report it stolen and you will go to jail for grand theft auto.

Good Luck...

Answer 3

that is grand theft auto if there is already a Deed Of Sale signed by both parties even though the title is still in your name

Answer 4

Dealerships are not required to transfer a title to a vehicle until it is sold to an individual. The vehicle can go from one dealer to another in some other state and stay in your name.  You already signed paperwork trading the vehicle in to the dealership.  It belongs to the Dealership.