On Facebook Marketplace I've seen a few cars for sale that are obviously "un-redeemed pledges".

 

They are super cheap - but surely with just a "copy" of the book you are not the legal owner?

 

eg.

 

https://www.facebook.com/marketplace/item/761737480991384/

 

 

RAZZ

don't part with the money until the car is in your name in the blue book

4 hours ago, RAZZELL said:

On Facebook Marketplace I've seen a few cars for sale that are obviously "un-redeemed pledges".

 

They are super cheap - but surely with just a "copy" of the book you are not the legal owner?

 

eg.

 

https://www.facebook.com/marketplace/item/761737480991384/

 

 

RAZZ

Potentially stolen cars are cheap, yes.

technically not stolen, usually it's just that the owners are behind their payment of lease, and then pawned off the cars to shady people, who then sold on the cars sans paper.

 

If the finance company found it they can repossess it at anytime

30 minutes ago, digbeth said:

technically not stolen, usually it's just that the owners are behind their payment of lease, and then pawned off the cars to shady people, who then sold on the cars sans paper.

 

If the finance company found it they can repossess it at anytime

Doesn't really matter if it's theft, embezzlement, or however we would call it.

The finance company will file a police report, and if this car ever show up somwhere (for example paying tax), the driver could be arrested.

If you don't pay tax, don't buy insurance, and bribe your way out of police checks you might get away with driving this car, but if you are ever unlucky and somehow get caught you will not only lose the car, but might also be charged for a crime.