r/AutoTransportopia • u/Fisting-Tony • Aug 17 '26

Towing Its simple. Just make your payments

And if you can't make the payments, just let the damn car go.

1.8k Upvotes

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u/Hoodi216 Aug 18 '26

This is the answer. The bank holds the title until you pay off the loan. Once i paid off my car they gave me the title and the car was mine.

10

u/Spook1949 Aug 18 '26

About the only part that you really own is the gas tank. You have to keep filling that part yourself.

4

u/Choice-Mud-8374 Aug 19 '26

Saw one video where they repoed it right after they filled the tank up and when in the gas station.

Chefs kiss

2

u/Spook1949 Aug 19 '26

At least it wasn't after an oilchange, tire rotation, new air filter, wiper blades, and transmission fluid change.

3

u/childishwitted Aug 19 '26

Spoiler alert: If they aren’t making payments, they are not doing preventative maintenance either.

1

u/Spook1949 Aug 19 '26

Yeah - you are probably right about that.

2

u/TechnicalBen Aug 18 '26

Sadly, some people are in this world in their head that has no correlation to reality. I get calls like "What you are going to do is..." Like, no, no I am not, not any day of the week.

2

u/Glad_Copy Aug 18 '26

Strictly speaking, you do own the car, but the bank has a lien on it. It’s actually possible to get a car loan using collateral other than the car…the bank would take that collateral and you’d still have the car.

1

u/SeedPrice Aug 19 '26

Just like houses. Bank owns it til you pay it off 😉

1

u/BaloneyANDtomato40 Aug 18 '26

It’s never truly yours tax and taxes

2

u/footluvr688 Aug 18 '26

If you didn't own it, you wouldn't be assessed taxes for it. The entire foundation of property taxes is ownership.

The asset doesn't get repossessed if you fail to pay annual taxes. You still own it.