Free Car!!!

Steveo1223

New Member
Has anyone else had this happen? I leased car with $250 down in 2016. After some time Xchange was unable to take my payments. I called and called to resolve this as I did not want to get behind and I was never contacted again by Xchange or fair.... it’s Been 4 years and I still have the car. My buyout option was in 2019... I’ve done work to the car and it’s in good shape but it’s not worth my buyout anymore. I’m wondering if I just keep it registered and insured and keep using it or fight to get it in my name... I held my end of the deal as best as possible, I have documentation and emails with Xchange telling me that they will reach out as soon as they can take payment, they couldn’t locate my account. I truly believe that my car fell through the cracks or record of it was lost before inventory was sold to Fair. No one knows this car is missing... I still have original contract and buyout amount. I’m still technically waiting for someone to reach out to me, so legally I’m Ok. Just wondering if there is a way to get this car in my name for less than that buyout. I wouldn’t work with Fair, they don’t know this car exists and I can’t work with Xchange, they no longer exist...Is there a legal way to get this car transferred to me? They broke contract and conditions, meanwhile car depreciated so terms aren’t the same. But yah, 4 years I’ve had and cared for this car and have been waiting for someone to advise me how pay and they have not? I can’t be the only one. Has this happened to anyone else??
 

NoPool4Me

Well-Known Member
Has anyone else had this happen? I leased car with $250 down in 2016. After some time Xchange was unable to take my payments. I called and called to resolve this as I did not want to get behind and I was never contacted again by Xchange or fair.... it’s Been 4 years and I still have the car. My buyout option was in 2019... I’ve done work to the car and it’s in good shape but it’s not worth my buyout anymore. I’m wondering if I just keep it registered and insured and keep using it or fight to get it in my name... I held my end of the deal as best as possible, I have documentation and emails with Xchange telling me that they will reach out as soon as they can take payment, they couldn’t locate my account. I truly believe that my car fell through the cracks or record of it was lost before inventory was sold to Fair. No one knows this car is missing... I still have original contract and buyout amount. I’m still technically waiting for someone to reach out to me, so legally I’m Ok. Just wondering if there is a way to get this car in my name for less than that buyout. I wouldn’t work with Fair, they don’t know this car exists and I can’t work with Xchange, they no longer exist...Is there a legal way to get this car transferred to me? They broke contract and conditions, meanwhile car depreciated so terms aren’t the same. But yah, 4 years I’ve had and cared for this car and have been waiting for someone to advise me how pay and they have not? I can’t be the only one. Has this happened to anyone else??
Is the lease listed on your credit report? You may want to check that out.
 

Iann

Well-Known Member
I would check with your local DMV.

Here's some random stuff that might guide you.

If the lienholder or security interest holder is out-of-business, the vehicle owner should:
  1. Conduct a thorough search, including internet search, of all available resources to determine if the security interest holder has merged or otherwise changed their business name or location prior to making a determination that they are out-of-business.
  2. Obtain and submit a letter from the appropriate regulatory agency that states the lienholder or security interest holder is no longer in business or is unlicensed. If the regulatory agency states that the company is unlicensed:
    • Send by registered mail, return receipt a letter to the lienholder or security interest holder, at their last known address as shown on the Department’s title records.
    • Submit the returned undelivered letter with the green postal card intact with the following:
      • Signed letter from the regulatory agency stating the lien or security holder is unlicensed
      • Title
      • Other applicable documents
      • $18.00 title fee
  3. This procedure does not include:
  • Individuals who are lienholder or security interest holders.
  • Companies merged with other companies and are operating under a different name.
  • Company not regulated by a state agency.
Post automatically merged:

Another trick.

If you know a mechanic, let him do a Mechanics Lien on it.
Once he gets the title he can sell it back to you for $1.00 and you can then title it in your name legally.
 
Last edited:

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #8
Oh yah! That car! Yah, I took
Is the lease listed on your credit report? You may want to check that out.
No where on my credit
Post automatically merged:

I would check with your local DMV.

Here's some random stuff that might guide you.

If the lienholder or security interest holder is out-of-business, the vehicle owner should:
  1. Conduct a thorough search, including internet search, of all available resources to determine if the security interest holder has merged or otherwise changed their business name or location prior to making a determination that they are out-of-business.
  2. Obtain and submit a letter from the appropriate regulatory agency that states the lienholder or security interest holder is no longer in business or is unlicensed. If the regulatory agency states that the company is unlicensed:
    • Send by registered mail, return receipt a letter to the lienholder or security interest holder, at their last known address as shown on the Department’s title records.
    • Submit the returned undelivered letter with the green postal card intact with the following:
      • Signed letter from the regulatory agency stating the lien or security holder is unlicensed
      • Title
      • Other applicable documents
      • $18.00 title fee
  3. This procedure does not include:
  • Individuals who are lienholder or security interest holders.
  • Companies merged with other companies and are operating under a different name.
  • Company not regulated by a state agency.
Post automatically merged:

Another trick.

If you know a mechanic, let him do a Mechanics Lien on it.
Once he gets the title he can sell it back to you for $1.00 and you can then title it in your name legally.
That is genius
 

Fusion_LUser

Well-Known Member
The only *REAL* issue you need to worry about is the car being reported as stolen. Chances are it's not since more and more police departments scan license plates for stolen cars.

No doubt various departments are in play here and who knows if the loss-prevention department hasn't marked the car as missing/stolen?

Who pays the registration for the car? You? Are they only the lien holders? Sorry I don't know how Xchange works.
 
Last edited:

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #10
The only *REAL* issue you need to worry about is the car being reported as stolen. Chances are it's not since more and more police departments scan license plates for stolen cars.

No doubt various departments are in play here and who knows if the loss-prevention department hasn't marked the car as missing/stolen?

Who pays the registration for the car? You? Are they only the lien holders? Sorry I don't know how Xchange works.
I hear what you are saying, and I’ve checked with DMV and all is well there and all is well. I would imagine they would contact me before attempting to report the car stolen or even lost. they had all my info...Phone , address, email etc. I literally have my contract and all communications with leasing saying that they will contact me when They are able to take payment. I’ve heard crickets since 2016. I’m really considering the mechanics lien if I can’t contact them to obtain the title. I’ve placed new tires, breaks, cooling fan, new door, fender, bodywork and headlamps as well as regular maintenance. So yah, I’d be upset if I received any other communication besides “Hi Mr. Jones, we’ve located your account and we are so sorry. Thank you for your patience. Would you like to take ownership of the car per our contract still?” But I won’t hear from them. Not gonna happen. This and many of there cars were lost in the system. I truly believe that most people just took those gift cards and took cars back... meanwhile I’m still waiting to buy mine... I’m really just wondering how this is gonna go down! I want the car and I’ve stuck to the contract. They literally would not let me give them any money! So I’ve been waiting and before I knew it, 4 years went by...So at this point, the only legal grounds they have would be to contact me and advise how we can renegotiate the contract the original buyout was for one year ago, in which I would have overpayed for the vehicle then and yet a full year and more miles has gone by, and I’ve spent several thousand dollars to restore the vehicle. This whole experience was just so interesting so like I said , I can’t be the only one this happened too. Just wondering who else kept their car in hopes to buy it and keep it and never got a call back
 

Fusion_LUser

Well-Known Member
I hear what you are saying, and I’ve checked with DMV and all is well there and all is well. I would imagine they would contact me before attempting to report the car stolen or even lost. they had all my info...Phone , address, email etc. I literally have my contract and all communications with leasing saying that they will contact me when They are able to take payment. I’ve heard crickets since 2016. I’m really considering the mechanics lien if I can’t contact them to obtain the title. I’ve placed new tires, breaks, cooling fan, new door, fender, bodywork and headlamps as well as regular maintenance. So yah, I’d be upset if I received any other communication besides “Hi Mr. Jones, we’ve located your account and we are so sorry. Thank you for your patience. Would you like to take ownership of the car per our contract still?” But I won’t hear from them. Not gonna happen. This and many of there cars were lost in the system. I truly believe that most people just took those gift cards and took cars back... meanwhile I’m still waiting to buy mine... I’m really just wondering how this is gonna go down! I want the car and I’ve stuck to the contract. They literally would not let me give them any money! So I’ve been waiting and before I knew it, 4 years went by...So at this point, the only legal grounds they have would be to contact me and advise how we can renegotiate the contract the original buyout was for one year ago, in which I would have overpayed for the vehicle then and yet a full year and more miles has gone by, and I’ve spent several thousand dollars to restore the vehicle. This whole experience was just so interesting so like I said , I can’t be the only one this happened too. Just wondering who else kept their car in hopes to buy it and keep it and never got a call back
I think you are looking at this the wrong way... Don't rock the boat! You have gotten a car for free for 4 years. You now run the risk of contacting the wrong person who will be the one to collect on 4 years of non-payment! While you have done maintenance it sounds like what you have done is nowhere near as close to what you got in free use though.

Heck at this point if you are able to keep the car registered/insured I'd say keep your mouth shut and enjoy the free ride, literally! Drive it until it falls apart then abandon it and claim you haven't had the car since 2016! I don't know about the last part but I see no reason to rock the boat and bring attention to yourself at this point.
 

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #12
The only *REAL* issue you need to worry about is the car being reported as stolen. Chances are it's not since more and more police departments scan license plates for stolen cars.

No doubt various departments are in play here and who knows if the loss-prevention department hasn't marked the car as missing/stolen?

Who pays the registration for the car? You? Are they only the lien holders? Sorry I don't know how Xchange works.
And Yes, I pay insurance and registration, however, my name is NOT on the title... it’s Xchange still, who no longer exists...
 

Iann

Well-Known Member
I hear what you are saying, and I’ve checked with DMV and all is well there and all is well. I would imagine they would contact me before attempting to report the car stolen or even lost. they had all my info...Phone , address, email etc. I literally have my contract and all communications with leasing saying that they will contact me when They are able to take payment. I’ve heard crickets since 2016. I’m really considering the mechanics lien if I can’t contact them to obtain the title. I’ve placed new tires, breaks, cooling fan, new door, fender, bodywork and headlamps as well as regular maintenance. So yah, I’d be upset if I received any other communication besides “Hi Mr. Jones, we’ve located your account and we are so sorry. Thank you for your patience. Would you like to take ownership of the car per our contract still?” But I won’t hear from them. Not gonna happen. This and many of there cars were lost in the system. I truly believe that most people just took those gift cards and took cars back... meanwhile I’m still waiting to buy mine... I’m really just wondering how this is gonna go down! I want the car and I’ve stuck to the contract. They literally would not let me give them any money! So I’ve been waiting and before I knew it, 4 years went by...So at this point, the only legal grounds they have would be to contact me and advise how we can renegotiate the contract the original buyout was for one year ago, in which I would have overpayed for the vehicle then and yet a full year and more miles has gone by, and I’ve spent several thousand dollars to restore the vehicle. This whole experience was just so interesting so like I said , I can’t be the only one this happened too. Just wondering who else kept their car in hopes to buy it and keep it and never got a call back
If you plan to sell it at some point I would just go with a mechanics lien if your know a mechanic that will do it.
You just need to have him "do work" on your car.
After 30 days he can put a lien on it and after 14 days in most states it will be legally his.

Or just keep it like it is and register it and insure it like normal.
You won't be able to sell it scrap it without the title.
If you don't plan on selling it I would just keep it as is.
The mechanic could just keep it and legally tell you to eat rocks so it might not be worth the hassle going that route.
 

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #14
I think you are looking at this the wrong way... Don't rock the boat! You have gotten a car for free for 4 years. You now run the risk of contacting the wrong person who will be the one to collect on 4 years of non-payment! While you have done maintenance it sounds like what you have done is nowhere near as close to what you got in free use though.

Heck at this point if you are able to keep the car registered/insured I'd say keep your mouth shut and enjoy the free ride, literally! Drive it until it falls apart then abandon it and claim you haven't had the car since 2016! I don't know about the last part but I see no reason to rock the boat and bring attention to yourself at this point.
My thoughts Exactly! Legally I’ve done my part. This deal was between me and Xchange . I’ve never had any arrangement with Fair so no reason to contact them at all. I’ve attempted to contact Xchange and they don’t exist. Yes and I don’t need anyone digging into this matter and believing that I’ve done anything wrong and yah, they try to say I’ve defaulted on payments or something whack. I literally saved everything. My documents show multiple attempts to pay and them advising that they can’t currently take payments and that they will reach out to me... so I think I’ll use and operate the car per contract until further notice, at which point then we can hash it out, otherwise our arrangement is still working like it was supposed to. Personal use, unlimited miles, etc. the real interesting think would be if it wasn’t properly insured, and was involved in an accident. I am not the “Registered Owner” they would still be legally liable for damages to another person or their property... could you imagine that dog fight? Xchange could get sued...they don’t exist... then they’d go after fair which doesn’t own the car, but was maybe supposed to. Could you imagine that case... I’m like it’s not mine...Again this would be like a worse case scenario. I’m sure it’s happened. How many drivers kept cars, let the insurance lapse, then wrecked it and didn’t care before it was repoed then fair had a legal issue on their hands...it’d be interesting to here some stories
 

Jenga

Active Member
All those saying to put a mechanics lien on it: You do realize this will go in the borrower's credit report as an unpaid debt, You will have traded your good credit for a car. Good luck!
 

Iann

Well-Known Member
All those saying to put a mechanics lien on it: You do realize this will go in the borrower's credit report as an unpaid debt, You will have traded your good credit for a car. Good luck!
Not if the car isn't on his credit report.
 

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #18
All those saying to put a mechanics lien on it: You do realize this will go in the borrower's credit report as an unpaid debt, You will have traded your good credit for a car. Good luck!
The car is not in my credit. The Lien would go against exchange. Exchange will not pay the amount to get the car back. The mechanic would then take over the title to cover the lien, then sell me the car for $1.00
Post automatically merged:

Not if the car isn't on his credit report.
Even if I sign for the work to be done. Say the car is worth 3k but I needed 5k worth of work. Sorry Mr Mechanic friend, I can’t pay... he can’t put a lien on me, but the registered owner (Xchange) they wouldn’t respond of course because they no longer exists, even if they did they wouldn’t pay 5k for a car worth 3k. The state grants the title to the mechanic and mechanic just so happens to be a good friend of mine and sells the car to me to recoup some of his “Losses”. It’s a solid strategy to get the title for my car. I just need to find a mechanic who willing to perform the “Work” it needs and slap a lien down if it’s not paid and then title Transfer back to me
 
Last edited:

waldowainthrop

Well-Known Member
I haven’t read this whole thread, but I think the main concern is if Fair is now the legal “owner” of the car according to anyone, since Fair was a legal entity presumably created out of Xchange. If Fair has the paperwork, I wouldn’t be surprised if they’ve misplaced it or forgotten about you. I had some really bad business dealings with Fair (that ended up fine in the end), but a lot of their side of the arrangement involved being negligent about a car that they own, and basically forgetting about me for a while. It’s a pretty poorly run company that may not be around in a few months.

If I were you, I’d wait a few months and see what happens.
 

Steveo1223

New Member
  • Thread Starter Thread Starter
  • #20
I haven’t read this whole thread, but I think the main concern is if Fair is now the legal “owner” of the car according to anyone, since Fair was a legal entity presumably created out of Xchange. If Fair has the paperwork, I wouldn’t be surprised if they’ve misplaced it or forgotten about you. I had some really bad business dealings with Fair (that ended up fine in the end), but a lot of their side of the arrangement involved being negligent about a car that they own, and basically forgetting about me for a while. It’s a pretty poorly run company that may not be around in a few months.

If I were you, I’d wait a few months and see what happens.
Yes, I’m in no rush. It’s been 4 years. I can’t wait longer, continue to not draw attention. I guess eventually, I will want it in my name just in case I decide to sell it. Otherwise I’m just keeping and driving it now
 
Top