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madredarlene · Oct 14, 2011, 03:30 PM

In reply to Rick J. I initially obtained a title loan, but the original title was inadvertently sent to me. So... I obtained another title loan;, however the second company did not ask if there was another loan on the car. In the meantime, the "loss payee" has been changed from the first title loan. Is this illegal? Also, the second title loan placed a tracker on my car. Is that legal?

madredarlene · Oct 14, 2011, 03:36 PM

Is it illegal for title loan companies to place a tracking device on your car? Also, I have two title loans because of a blunder with the first title loan company, I received the original title. So... I obtained another title loan, but the second company placed a tracking device on my car. Is it illegal to have two title loans? The second company did not ask if there were other loans on my car. I figure as long as I pay both of them on time, I will be okay? But the second title loan company changed the loss payee, and now the first title loan company has been notified. I have not heard from them to date. I am so... Nervous about the consequences. HELP!

Handyman2007 · Oct 22, 2011, 08:07 PM

What is a "title loan"? Tracking device?? Why?

madredarlene · Dec 5, 2011, 03:47 PM

Is it illegal for title loan companies to place a tracking device on your car? This questions was not answered. The second company placed a tracking device on my vehicle even before the loan was processed. As soon as I pulled into the lot.

Handyman2007 · Dec 5, 2011, 04:04 PM

By "title loan" I think you mean loans that are guaranteed by the title or the value of the car hence the loan company holds the title. I do not understand how you were able to obtain another loan when the title was , in effect, being used as collateral against the first loan. I do not believe it is legal for ANYONE to install a tracking device on ANYONE'S car unless they are under criminal surveillance.
Did you ask them why the did it? If they are not a law enforcement agency, they do not have the authority to do anything like that> I am assuming you are in the United States. I would call an atty and ask. A consultation is usually free. You may have trouble with the 2 loans but see how that plays out. I would be more concerned about the violation of your civil rights.

madredarlene · Jun 14, 2012, 03:27 PM

Originally Posted by Handyman2007

By "title loan" I think you mean loans that are guaranteed by the title or the value of the car hence the loan company holds the title. I do not understand how you were able to obtain another loan when the title was , in effect, being used as collateral against the first loan. I do not believe it is legal for ANYONE to install a tracking device on ANYONE'S car unless they are under criminal surveillance.
Did you ask them why the did it? If they are not a law enforcement agency, they do not have the authority to do anything like that> I am assuming you are in the United States. I would call an atty and ask. A consultation is usually free. You may have trouble with the 2 loans but see how that plays out. I would be more concerned about the violation of your civil rights.

Thank you, Handyman. I will check into that "tracking device" issue. No, I did not ask them why. Just as soon as I pulled in, the guy sent my car to shop for installation. I thought it was a standard and legal thing to do.

So far, as far as the two loans on the same title, I have not had any issues (knock on wood). I figure as long as I keep both companies up to date on payments, I will be okay. But, I am concerned about the "tracking."

Handyman2007 · Jun 14, 2012, 06:00 PM

I am wondering if what they are installing is what is called " LoJack". It is a tracking device used to find a vehicle if it is stolen. That seems more reasonable. I would check into that if I were you. That may possibly be required by the finance company.