Just Got My Title!!

LittleVik · 02-20-2009, 04:52 PM

So I just got an envelope from BMW with the Title to 1er. The thing is folded like 10x over on itself... Plus it still has BMW's name on it, but with release signature, and the letter inside says I should go to DMV and get another. Is that really worth it? I don't want to go all the way out there and stand in line for no reason. Plus I'm kind of weak these days since I haven't had money for food due to payoff...

Well, I own the damn thing, time to really start worrying about something happening to it...

Bdh821 · 02-21-2009, 12:28 AM

must be nice to have the title and know its in your name...

Dr_Jones · 02-21-2009, 05:41 AM

showoff

BlackjackMulligan · 02-22-2009, 12:17 PM

Quote:

Originally Posted by LittleVik

So I just got an envelope from BMW with the Title to 1er. The thing is folded like 10x over on itself... Plus it still has BMW's name on it, but with release signature, and the letter inside says I should go to DMV and get another. Is that really worth it? I don't want to go all the way out there and stand in line for no reason. Plus I'm kind of weak these days since I haven't had money for food due to payoff...

Well, I own the damn thing, time to really start worrying about something happening to it...

Congrats man. This damn car addiction thing that I have going on is gonna preclude me from EVER having a vehicle paid off I think........ugh.

bman6074 · 02-25-2009, 02:19 PM

Nice, I got mine about month after I picked up my car. I don't like paying interest. So just paid it off.

ruffstik · 02-25-2009, 02:23 PM

Yeah interest is a bit**....paid mine off as well.

LittleVik · 02-25-2009, 07:32 PM

Yeah, I did same thing. Made 1 payment, then decided screw this, and made the payoff.

BimmerLearner · 02-25-2009, 07:44 PM

Why would you pay off 0.9%? you'd get more in a savings account.

pheller · 02-25-2009, 08:28 PM

Exactly! I'm getting 2.3% on my Citi Ultimate Savings Account.

bman6074 · 02-27-2009, 07:04 AM

Mine was at 5.6%. If I had gotten .9% yes i would have left it and paid the monthly payments. But now all the monthly payments go straight to savings

LittleVik · 02-28-2009, 04:27 PM

There is no 0.9% for 2009 cars, at least not when I bought. Not for 1 Series, all others yes. So I had 6.9% or some crap like that. So I just decided forget it.

IndyMike · 02-28-2009, 05:15 PM

Well, I've always paid cash for my new vehicles and it isn't until I initially register the car with the state that I receive the official Indiana Certificate of Title for the vehicle in the mail a week or two later.

If I recall correctly (it's been almost 6 years since I did it last), for BMW's it requires a Manufacturer's Statement of Origin (MSO, or something like that), to title a car in your name but BMW probably already presented it to your state Motor Vehicle Department when they titled it.

Anyway, check with your client advisor or call your local Motor Vehicle office for specific details on how things are run in your state.

Or maybe someone on the board that also lives in your state and who has had experience in this area can give you the skinny.

Either way, I don't think you should disregard the letters recommendation to contact your state's DMV.

And congratulations on buying it outright.

Now scream out loud after me:
WOO-HOO! I'M CAR DEBT FREEEEEEEEEEEEEE!

jkp1187 · 02-28-2009, 06:06 PM

Quote:

Originally Posted by LittleVik

So I just got an envelope from BMW with the Title to 1er. The thing is folded like 10x over on itself... Plus it still has BMW's name on it, but with release signature, and the letter inside says I should go to DMV and get another. Is that really worth it? I don't want to go all the way out there and stand in line for no reason. Plus I'm kind of weak these days since I haven't had money for food due to payoff...

Well, I own the damn thing, time to really start worrying about something happening to it...

I said the same thing when my title was released after paying off my car.

Then my copy of the title was misplaced when I moved. Can't find it to save my life.

Now before I transfer title, I have to get a letter from my bank confirming that yes, in fact, I did pay off the loan and now own my car, because according to the state's records, it's still owned by the bank.

Not a huge pain... I already got the letter from the bank. But in future, I'll make sure this is done as soon as I can, because otherwise the DMV could've printed out a new copy of the title for me without a problem.

LittleVik · 03-03-2009, 12:01 PM

jkp1187, thanks for mentioning this, you just gave a great example of why I should actually go to the DMV and get this done. Thanks!

02-20-2009, 04:52 PM	#1
LittleVik Banned 8 Rep 205 Posts Drives: 2009 128i Black/Black Join Date: Nov 2008 Location: Boston Burbs iTrader: (0)	Just Got My Title!! So I just got an envelope from BMW with the Title to 1er. The thing is folded like 10x over on itself... Plus it still has BMW's name on it, but with release signature, and the letter inside says I should go to DMV and get another. Is that really worth it? I don't want to go all the way out there and stand in line for no reason. Plus I'm kind of weak these days since I haven't had money for food due to payoff... Well, I own the damn thing, time to really start worrying about something happening to it...
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02-21-2009, 12:28 AM	#2
Bdh821 Major 44 Rep 1,265 Posts Drives: 2021 M550i Join Date: Feb 2008 Location: MA iTrader: (3)	must be nice to have the title and know its in your name...
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02-21-2009, 05:41 AM	#3
Dr_Jones Major 70 Rep 1,027 Posts Drives: Join Date: May 2008 iTrader: (0)	showoff __________________ Just like Indiana...I love my whip
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02-25-2009, 02:19 PM	#5
bman6074 Major 103 Rep 1,254 Posts Drives: 14 M235i and 07 Lotus Exige S Join Date: Feb 2008 Location: Connecticut iTrader: (0)	Nice, I got mine about month after I picked up my car. I don't like paying interest. So just paid it off. __________________
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02-25-2009, 02:23 PM	#6
ruffstik Pirate 56 Rep 692 Posts Drives: 2025 M2 G87 - on the list Join Date: Mar 2008 Location: Wisconsin iTrader: (0) Garage List 2008 135i [9.50]	Yeah interest is a bit**....paid mine off as well.
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02-25-2009, 07:32 PM	#7
LittleVik Banned 8 Rep 205 Posts Drives: 2009 128i Black/Black Join Date: Nov 2008 Location: Boston Burbs iTrader: (0)	Yeah, I did same thing. Made 1 payment, then decided screw this, and made the payoff.
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02-25-2009, 07:44 PM	#8
BimmerLearner My car is less than a week old and on its 3rd tank 12 Rep 379 Posts Drives: Tiag 135 Vert Join Date: Jan 2009 Location: NE iTrader: (0)	Why would you pay off 0.9%? you'd get more in a savings account.
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02-25-2009, 08:28 PM	#9
pheller First Lieutenant 7 Rep 362 Posts Drives: 2011 VO 1M Join Date: May 2008 Location: Boston, MA iTrader: (1)	Exactly! I'm getting 2.3% on my Citi Ultimate Savings Account. __________________ --phil
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02-27-2009, 07:04 AM	#10
bman6074 Major 103 Rep 1,254 Posts Drives: 14 M235i and 07 Lotus Exige S Join Date: Feb 2008 Location: Connecticut iTrader: (0)	Mine was at 5.6%. If I had gotten .9% yes i would have left it and paid the monthly payments. But now all the monthly payments go straight to savings __________________
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02-28-2009, 04:27 PM	#11
LittleVik Banned 8 Rep 205 Posts Drives: 2009 128i Black/Black Join Date: Nov 2008 Location: Boston Burbs iTrader: (0)	There is no 0.9% for 2009 cars, at least not when I bought. Not for 1 Series, all others yes. So I had 6.9% or some crap like that. So I just decided forget it.
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02-28-2009, 05:15 PM	#12
IndyMike Captain 410 Rep 633 Posts Drives: 11 VO 1 M/22 G42 Thundernight Join Date: Jul 2007 Location: Indianapolis, IN iTrader: (1)	Well, I've always paid cash for my new vehicles and it isn't until I initially register the car with the state that I receive the official Indiana Certificate of Title for the vehicle in the mail a week or two later. If I recall correctly (it's been almost 6 years since I did it last), for BMW's it requires a Manufacturer's Statement of Origin (MSO, or something like that), to title a car in your name but BMW probably already presented it to your state Motor Vehicle Department when they titled it. Anyway, check with your client advisor or call your local Motor Vehicle office for specific details on how things are run in your state. Or maybe someone on the board that also lives in your state and who has had experience in this area can give you the skinny. Either way, I don't think you should disregard the letters recommendation to contact your state's DMV. And congratulations on buying it outright. Now scream out loud after me: WOO-HOO! I'M CAR DEBT FREEEEEEEEEEEEEE!
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03-03-2009, 12:01 PM	#14
LittleVik Banned 8 Rep 205 Posts Drives: 2009 128i Black/Black Join Date: Nov 2008 Location: Boston Burbs iTrader: (0)	jkp1187, thanks for mentioning this, you just gave a great example of why I should actually go to the DMV and get this done. Thanks!
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