The Hidden Costs of Car Ownership: When Lenders Can (and Can't) Charge You Storage Fees on Your Title
Download MP3Episode Description
Can you legally charge storage fees on a vehicle to obtain its title? This episode breaks down the complex regulations surrounding vehicle storage fees and title ownership. Our expert explains when storage fees are legitimate, what licenses are required, and why this approach might not be your best option for acquiring a car title.
Key Topics Covered
- Licensing Requirements for Storage Fees
- Must be a licensed automotive facility (body shop, repair shop, towing company)
- Cannot arbitrarily create storage fees without proper licensing
- Exceptions may exist for parking lots and self-storage facilities
- Legal Requirements for Valid Storage Fees
- Written authorization required from vehicle owner
- Cannot make up fees "out of thin air"
- Fees must be agreed upon in advance
- Rate Limitations and Regulations
- Storage fees must be reasonable, posted, or statutory
- Rates often capped by state or county statutes
- Must comply with maximum amounts allowed by law
- Fees typically range from $5-$20 per day depending on jurisdiction
- Time Limits and Notice Requirements
- Some jurisdictions require notice to customer before charging fees
- Specific waiting periods may apply before fees can begin
- Time limits vary by location and situation
- Better Alternatives to Storage Fees
- Magistrate title process
- Bonded title applications
- Court order titles
- Why these methods are often more direct and effective
- Common Misconceptions
- Why storage fees aren't a "secret trick" for title acquisition
- How attempting storage fees might actually waive your rights to the vehicle
- The importance of understanding all available options
Expert Advice
Storage fees are rarely the best path to vehicle title ownership due to complex legal requirements and potential rights waiver. Consider consulting with title experts to explore more direct and legally sound alternatives.
Resources Mentioned
- Live one-on-one title consultations available
- Licensed investigators and title examiners
- Comprehensive title option listings
- Video consultation scheduling
This episode provides general information and should not be considered legal advice. Consult with qualified professionals for your specific situation.
