Please! Need Help with a scam

You could treat it like a lost title. Go to the DMV have the vin inspected. That will at least start the process down the correct path. Sorry if this has already been mentioned but this is the process I went through when I purchased a camper with a photocopy title, very good photocopy at least, and I am free and clear now.

 

No title if there's a lien.

 

Was just getting caught up into the thread. So lemme get this straight you bought, in cash, a truck with a FAKE title in the SELLERS name. Not a photocopy of the OG title with the lienholders inflrmation.

 

Seller purchased truck...... Photocopied REAL title in his name...... Got secondary loan on truck and gave bank that title (somehow, someway this is just what the dmv suggested happened)..... He is still on the hook for the loan but i have the truck and can not register it. law enforcement can't do anything without the D.A. getting involved which they are reluctant to do. Sold me truck before bank could register it in their system so even though i did carfax history, vin inspection, as much due diligence as i could everything was still in filing mode so everything seemed legit. DMV, state patrol, local police, Private investigator, all said its the first time they have seen this scam and it was flawless. The seller is fucked as well but from his criminal history it doesnt seem like he cares about his name or credit. and im out the money with a really expensive paperweight sitting in my garage.

 

Thanks for the abridged rundown. Sorry OP.
Good luck, I hope you’ve got a baller attorney.

 

There's no lien because the lien holder doesn't hold the title.

Apply for lost title and let the original seller deal with his bank and his default on his loan that he never forfeited the title for. So there's no truck for the bank to repossess. They'll have to go to civil court with the original seller where they will get a judgment and then they can begin collecting what's owed to them through other legal means other than reselling the repossessed truck.

 

Couple of things.

1. Seller probably paid cash originally and immediately got a legit clear title. Then quickly copied it, used the truck for a secondary loan collateral, and sold it to the buyer (OP). I doubt the lien came from the original purchase because there's no way he'd get a clear title. So it must have been a truck equity loan type deal in between the original cash purchase and sale to OP, where he offered the truck later for collateral, and to do so he'd have to surrender his genuine clear title at the closing. Which he did and that is why OP got a copy.

2. I doubt the name on the title (or the loan) is the seller's true name. This is too well-planned from day 1 for somebody to be that stupid.

3. This smells like a fraud ring or identity theft or something of that nature (think gang or OC), so maybe talk to the FBI not local cops. For no other reason than to give them a heads up if this is a new scam and they are not aware of it, and maybe see if they know anything you can do if they are.

4. The bank has every right to repo the truck, it is encumbered by a lien. Unfortunately they are probably going to be too lazy to go after the original owner, if they know where the truck is they will come get it. Imagine this was a house, somebody bought from a guy for cash and he claimed it had no lien. You find out later it does, bank is going to kick your ass out and take the house. Edit: this is why title insurance exists.

Best of luck OP, sounds like an ordeal. Lot of lessons here for the rest of us.

 

So ??? does the dirt bag have a name other than what they have been called by others on this thread. Don't want to contaminate the evidence, or impede the Man, so "close enough" might help local or regional TW members identify a rat in the kitchen. ??

 

Hello TW ive got a really bad predicament. A few Months back i stupidly bought a 2019 tacoma for cash from the owner of the truck. Turns out Seller purchased truck...... Photocopied REAL title in his REAL name Got a really good nearly flawless copy made of title(out of state so i wasn't 100% sure what it would be)...... Got secondary loan on truck before he sold it to me and gave bank the real title (somehow, someway this is just what the dmv said happened)..... He is still on the hook for the loan but i have the truck and can not register it, apply for lost title, drive it or anything. law enforcement can't do anything without the D.A. getting involved which they are reluctant to do because its a interstate scam. He sold me truck before bank could register it in their system so even though i did carfax history, vin inspection, as much due diligence as i could everything was still in filing mode so everything seemed legit. DMV, state patrol, local police, Private investigator, Lawyer all said its the first time they have seen this scam and it was flawless. The seller is fucked as well but is in the wind and from his criminal history it doesnt seem like he cares about his name or credit. Im out the money with a really expensive paperweight.

Also just a disclaimer, yes ive posted this before a few months back with no resolution so im looking for more help. And yes i do own another 2016 SR5 so for people who see my other activity its solely based on that truck.

Im really looking for insight into what my options are. Ive gone as far up the latter at the bank who hold the title and am getting a flat stone wall we can't talk to you about this! Ive even been hung up on on multiple occasions. Im not asking for personal information on the loan just what can be done other than waiting for someone to come and repossess the truck. I would be willing to work with them to get the title in my name and pay for the truck that way through the bank so at least i have a very expensive truck instead of being 100% of the the money.

What am i on the hook for if anything? If at some point nothing is resolved and i no longer have the truck in my possession am i liable for anything that happens to the truck? At this point im at a stand still and at a complete loss for what my next steps are supposed to be. PLEASE if anything comes to mind or you have information that will actually help please don't hesitate to PM me.

 

Just sell it the same way he sold it to you, boom, end of problem

 

This is something you should be discussing with a real lawyer, in your state since laws vary from state to state.

 

Yes

 

You make no sense. You paid cash for the truck so no RePo guy will show up. You simply cannot get it titled or licensed. Since it is an interstate scam you have to call the FBI. Seriously. Good luck.

 

this dude gets it

I would just drive it... no one needs to know

one thing though.... not sure why the seller is fucked as you say. He scammed you out of the money and gave the bank the original title (I.e. he gave them the truck). Seems like he was able to walk away with some extra cash if I’m reading this right.

 

Just be sure the repo man doesn’t come for it, they you’re out the money and the truck

 

how much did you buy it for?

 

https://www.tacomaworld.com/threads/scam-question.639232/

Double posting this is a scam.

 

There was one exactly the same a few months back.

 

Part it out.