LS6 owned by GMAC? Need GMAC employee/VA expert.
 

My LS6 was titled (Virginia) to GMAC on 2-16-71. They assigned the title to a dealer who assigned it to the next owner. Assuming it was repossessed in early 1971, isn't it odd that GMAC would take title rather than just assigning the repo'd title? Is this normal? I've researched back this far and know the car was delivered to Aero Chevrolet in Alexandria, VA so I have a hole in ownership from new (May, 1970) until the GMAC title 10 months later. I'd appreciate any assistance from someone who knows GMAC procedure or Virginia title procedure. Thanks.
Dave

Re: LS6 owned by GMAC? Need GMAC employee/VA expert.
 

Once the vehicle was repossessed it became the property of GMAC to sell therefore titled in their name. Every repo, as well as matured lease vehicles were titled accordingly to show the chain of ownership.

Re: LS6 owned by GMAC? Need GMAC employee/VA expert.
 

Dave,
You have a PM.

Re: LS6 owned by GMAC? Need GMAC employee/VA expert.
 

Dave
My Chevelles' history is similar.
My car was assembled October 24th,1969.It was delivered to the selling dealership on October 30th,1969.
The states VIN records show the very first owner was the local towns 1st National bank on 7/9/70,noting "REPO" issued on 7/10/70.
It then goes on to show the first human owners name on 8/10/70.
I don't know if this means it was sitting on the dealers lot for 9 months,or if it was repossessed a day later by the lending bank..or if this was normal operating loan procedure?

Re: LS6 owned by GMAC? Need GMAC employee/VA expert.
 

My '69 was also titled to a bank 15 months after the original purchase. The PA-DOT claims they don't have the records for the first owner. Does this mean that the car was repo'd?

Re: LS6 owned by GMAC? Need GMAC employee/VA exper
 

Rick and Marlin:
I'd say you both were repo'd from the first owner. I've had pretty good luck with title histories, but I'm learning that the stuff you get is usually "one step behind". That is, if you go to VA, you'll get the microfilm copy of the application for title and copy of the previous states title (maybe). They won't have a microfilm copy of the THEN current title since it went to the owner (or lender). You have to find the right state to get the next previous stuff.

It is becoming apparent that the lender may actually take title in a repo. I assumed that they would treat it like a dealer and simply reassign the title. I'll talk to a banker friend to see if they actually title the car in their name for repo.

Any GMAC or other experts?

Dave

Re: LS6 owned by GMAC? Need GMAC employee/VA exper
 

Well, my bank does not title repos in their name - they simply have the repo'd owner sign off and pass the title on, just like a dealer.
My Chev dealer friend says the same of GMAC. Maybe it's different in other states?
Just for fun, I submitted a title history request to the same state about 4 months apart. Got a little more info the second time! I guess it depends on the clerk and how many shots of the microfilm she wants to send.....
Dave