Car title need to be transferred after lease buyout?

Submitted by DueEggplant3723 t3_y9dgxv in massachusetts

So I bought out my lease from Toyota 3 years ago and received a paper title that had their name on the front but then mine on the back with their signature and odometer reading at the time transferring it to me.

Now when I go to Carvana to sell it they say I need to "flip" the title in my name, they won't accept the one I have with the handwriting on it...

Is anyone familiar with the process and can tell me what the minimum I need to do is to sell this car and get rid of it?

Have talked to rmv and insurance Co and gotten conflicting info

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March_Latter t1_it50o2u wrote

This sounds unlike any title I have ever gotten back. Does the title identify the bank as the owner and signs off as seller to you maybe? This should have been handled when you bought out the lease. Not sure how it could have gotten to this point with the vehicle registered.

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DueEggplant3723 OP t1_it52ema wrote

Yeah looking at the fine print it says the back assigns it to me and I am to complete rmv-1 form and turn in that copy which I neglected to do apparently. Since then I think the forms have changed so I got a RTA form to bring to them.

So I think I do need to go in person and bring the old title and the RTA and maybe pay tax... I wonder if they will need a bill of sale though? I don't have that and it has been 3 years now

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March_Latter t1_it53l13 wrote

So this is odd, when you "bought out your lease" what really happens is they sell you the car for a predetermined amount. You will owe taxes, and most likely penalties at this point. The RMV will register the car to you and give you clear title. Your insurance company and the RMV should have explained this to when it happened. Bill of sale...I am not sure.

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DueEggplant3723 OP t1_it58vxf wrote

Yeah that's weird because I had had no problems registering it. I found the bill of sale though so I'll just bring everything down there and hope there aren't late fees. Thanks for your help

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tobiasrfunke t1_it5krjk wrote

Did you register the car with the RMV when you bought out the lease? If so, you would have been given a title in your name. If you financed the car, it would have been mailed to the lienholder (your bank or credit union), otherwise it was given or sent to you. That's the one that goes to Carvana.

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DueEggplant3723 OP t1_it5lfkl wrote

Yes but now I think maybe I just never changed the license plates and the rmv just allowed me to register it anyway, I think I missed that step and no one noticed until now

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fountain19 t1_itechys wrote

You just need to bring the title to you rmv and have it official put in your name. They when you receive the title your name will be in front.

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mikemerriman t1_it5u2vp wrote

Yup. You need the title in your name to sell it. You don’t really own it until that’s done.

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DueEggplant3723 OP t1_it5yk25 wrote

Ok good to know, at least now I know I'm my wasting my time trying to get this done

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