Quote:
Originally Posted by Christien
The vehicle registration is in his name. We loan money for the customer to purchase the car, take out a lien, and the title is registered in his name. The lien should protect us from unauthorized sales, and the gps/starter disabler should protect us from deadbeat customers. But because the title's in his name, the cheque is made jointly payable to vehicle owner and lienholder.
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AH, in America the bank holds the title to said car until the loan is satisfied.
That may not have sounded as good as I thought, I mean no offense Christien.