Introduction to the topic: What to do if a car dealer doesn't provide a title after you purchase a vehicle.

Common scenarios:

• Buying a vehicle from a dealership (online or physical).
• Financing through a credit union or bank instead of the dealership.
• Potential issues with the dealership not having the title.

Reasons a dealer might not have a title:

• Acquiring the vehicle from an auction without obtaining the title.
• Selling the vehicle prematurely for profit without securing the title first.

Impact on financing:

• The bank or credit union pays the dealer upfront for the vehicle.
• If the dealer doesn't provide the title, the bank or credit union may consider your loan as unsecured.
• Possible conversion of your auto loan into a personal loan if the title isn't obtained within a specified timeframe (e.g., 60-90 days).
• Consequences of this conversion, such as increased interest rates (e.g., from 7% to 12%).

Importance of verifying the title:

• Buyers should ensure the dealer shows them the original title, not a photocopy or digital copy.
• Understanding the risks of purchasing without verifying the title.

Real-life examples:

• Cases where buyers are left without titles for months, affecting their ability to drive or register their vehicles.
• The financial burden of making payments without the ability to use the vehicle.

Conclusion: Always verify that the dealer has the title in their possession before completing the purchase or signing any agreements.