I just bought a 2007 BMW 328i, on financing through a dealer. While signing the paperwork I also signed a power of attorney form. I don't remember what exactly it is. Can someone tell me what exactly it is. Dealer told me that it means, I am the owner of the car and no one can tow my car and blah blahwhich I do not understand.Please let me know what exactly it is.Thanks in advance.
It just allows them to sign your name to do everything related to getting the car titled in your name and stuff like that. Very common practice at most big dealers. 99+% chance there is nothing to worry about.
you're signing for the vehicle actually a large style of places attempt this except a vehicle broking service. in basic terms saves a large style of time for you. i will do it each and every time if it saves me from going lower back to signal a attractiveness and so on. for a vehicle I no longer desire. yet another solid ingredient is via doing so and they signal it incorrecttheir situation, no longer yours. (Sounds extremely suspicious, the who human beings said it became common, likely didnt cope with a qualified broking service or the state has no administration over transactions.) for his or her preparation i have finished this with a vehicle broking service who's enormous sufficient contained in the mid west that if i'd say his call, about ninety% of the human beings may recognize the broking service)
I got a loan through a credit union to payoff a used car at a, dealership they made me sign a power of attorney letter. why
If you signed a power of attorney, you just gave the dealer the power to do whatever they like regarding your car. Anything you could do, they can now do. Why did you sign a power of attorney without understanding why, and what it could do? Not that it matters now, it's too late to change it now. Bank wants a higher interest rate? Dealer can say yes to that. They want more down? They can yes to that, and bill you the difference. Bank says no, and they want the car back? They can take it, you gave them permission.
