Tips on Buying Cars: picking up new car tomorrow/cant find title of car i am turning in, speedy reply, new cadillac

Question
Dear Jeremy,

Help! We purchased a new cadillac today and are scheduled to pick it up tomorrow. We are to turn in the cadillac we now own. We cant find the title, will they release the new car to us if we sign something saying that the title be mailed to the dealership??????? I really would appreciate a speedy reply and thank yoiu in advance!!! By the way we are in NY and the car we are turning in is from NY thanks
Carolanne

Answer
Carolanne,

My first question is:  Is the vehicle paid off that you are trading?  If so, there are two ways to go about this.  First, if you can't find the title, every state and every dealership has what is call a LOST TITLE APPLICATION.  You will have to sign this.  What this means is that the title is clear with no liens, but has been lost.  Your signature says that the dealership can file for a Duplicate Title and sign your name to it, transferring it into the the dealerships name.  It is very common, and not that big of a deal.  The dealership might charge you a fee, I know in Texas it is $5, but not sure in NY.  This is the most common way to take care of the problem.  

Secondly, you can go to the title office yourself before you pick up the new vehicle, and file for a duplicate title yourself.  You will have to pay any fees and the State will mail you the title usually in 4 to 6 weeks.  You can then take the title to the dealership.  They probably won't want you to do this, because it takes to long, but who knows.

If there is a lien on the vehicle, which means you still own money on it, then the lender has the rights to that title, not the dealership.  The dealership will have to get a release of lien from the lender once they have paid the vehicle off, and then file for a duplicate title.  

Either way, it is not a big deal, at least in Texas and most other states.  I am not aware of the laws in NY, but I can't imagine they would be much different.  

The best thing to do, is to call the dealership, and explain to them that you can not find the title to your trade-in and see what actions they want you to take.  More than likely they will not have a problem with it and it won't be a big deal.  

They should not hold your new vehicle because of this factor.  I would simply call them to see what actions they want you to take.

Thanks -

Jeremy