thanks all of you for you input. this is where I am at. 1st I live in Michigan so same state. I have 2 keys, 1 fob. This vehicle was in possesion of the dealer that I purchased it from since the 1st week of November, my purchase date was Jan 10, It had been listed on autotrader.com where I found it. I ran a carfax on the car before I went to look it over and take it for a test drive. Everything was clear. The dealer had run autocheck and everything was clear there also, After the drive we negotiated a price and came to an agreement. All the paper work was drawn up, application for a title and registration filled out , signed and insurance put on the vehicle from my carrier whom I have had for 30 years. Everything is good. I received the title from Michigan sec of state, vin #s all match everywhere that I can find them. registration and plate are here. MY next step after reading all the comments here is to go to th SOS, which I have to do anyway to renew tabs for my other vehicles. with all the paperwork, title and registration for the vette and verify that all is ok. If I am not 100 percent satisfied that this is my car, I will be calling a lawyer . Sound Good? I think so.

 

It really sponds like a scam by previouse owner (if in fact he was). I know if I let a friend use my Vette I sure would not wait as long as this guy did. I really believe you have a legal car.

 

My $0.02:
If the car was on a dealer's lot since Nov '10 and purchased in Jan '11, there is plenty of time for it to have been reported stolen if that was the case. You had to get it registered and the title is checked out whenever they change owners. If it were stolen, it would have been flagged and you wouldn't have gotten a title and plates, rather a local LEO showing up.

I'm not a Lawyer, but it sounds to me like you are fine.

 

You need to work fast, the vehicle that my wife bought was on a dealer's lot since October of the particular year. She traded in her other vehicle and then bought the vehicle in question. Got a registration, tags, title, loan papers from the bank, bill of sale. Then the vehicle was reported as stolen by the "owner" in February of the next year. We woke up on a May morning to find tire marks and a missing car. Locale LE when called stated that it was towed. Car had been listed in the crime computer since FEB as stolen. On meeting with LE we were provided with the info, but were told that it was reported stolen by the "owner" and that we were out of all our payments, insurance money and items we added to the car. This car was sold by a major car dealer off their used lot. We are still fighting to have the SOB that sold us the car locked up, money refunded and have the car dealership accept responsibility.

The only good part about this is that the traded in car was actually paid off by the dealer.

 

I stand corrected.

 

YA know, it would really suck if the first ride your wife took in her new Vette, she gets pulled over and your "gift" to her is a set of silver bracelets with a chain between them.
Then, wife is p/o'ed and car is impounded until they sort it out.
IF it was me, I would take the title to the local law enforcement and explain what's happening. See what they say. Don't waste any $$ on a lawyer.
The other issue I would have. If the original owner WAS stupid enough to loan his C5 to a buddy for that long, AND the buddy knew he was going to "off" the car, I would only assume the car had the ever lov'n crap driven out of it! I really hope you got a great deal on this car.. It still could cause you some issues down the line..
Bottom line, I would take the car BACK to the selling dealer with copies of ALL money spent and have them REFUND YOU EVERYTHING.
This whole deal smells really bad and I can only assume it surely isn't over yet!
Lastly, if you DO keep it and it's in storage until April, disconnect the battery or put it on a tender because it WILL BE DEAD by April...
OK, my work here is done....

GOOD LUCK, but I vote to TAKE IT BACK and start shopping again. C5's are getting cheaper and cheaper everyday! There are a lot of them out there at unreal prices!

 

something is fishy, how did the dealer get the title? Sounds like the guy sold it than changed his mind and is making the stolen part up.

 

Same thing in California. If you purchase something that is stolen, and it's discovered later, you lose everything you've invested. The only good thing here is that I would think the dealership would have some responsibilty to make good if the LEO's do come for the car..... I'd want a lawyer's input before this happens, not afterwards.

 

I would try to cancel the deal. A few years ago I lost a Mercury Sable due to a DMV error. Sold the car to a "friend" but he was going to make payments for a few months. I put a lien on the back of the title and the DMV screwed up and gave him a clean title. He stopped the payments.

I got a LEO, showed him the paperwork, including a statement from the DMV that because of their mistake the guy got a clean title, went to his house and repossessed the car. On the next week I had detectives knocking at my door and impounded the car to the police department.

I had to travel one hour each way a couple times to another city and talk to another detective, showed the bill of sale on my name when I bought the car, showed some simple contract I had with this "friend" and nothing. The guy ended up by living the country and we both lost the car.

Tried to get an attorney but on a $4,000 car it was going to cost almost that plus all the time and hassle.

 

That's true, but the problem is that my wife's vehicle and the OP's vehicle were purchased month's before they are/were reported "stolen". Just think if a trend was started that, you could sell your vehicle. collect the money and then months later report it stolen, and get the car back with the sellers money. In my case it was a scam by the dealer's salesman.

Unfortunately due the fact that we are still after a year trying to get LE to go after the parties involved, I can not post exact details.

It just burns me up that with 28 years of LE experience. I am getting the runaround by my local LE. If it was my case while in NY, it would have been taken care of within a month of it happening.

 

You need a dirtbag to deal with a dirtbag.

 

Scary, horrible situation you're in. Lots of advice here in this thread, but honestly, if I were in your unfortunate shoes, I think the best bet is to go talk to a lawyer, asap, before you do anything else. Not to necessarily "retain" them, but to have them explain YOUR rights in YOUR state/locality, and give you the best legal strategy to protect your investment in this car. At this point, since you acted in good faith in this transaction, that should be your #1 goal. Are you willing to risk whatever you have in this car based on what you read by some well meaning, but probably unqualified (in your local area) advice that you read on the internet?

With today's world, I believe it would be very easy for the time line as explained. For all we know, the original owner "lent" the car to a "friend" while they went to trashcanistan, even leaving the title in case of emergency, and when they returned, they found an empty garage, and some sort of made up story as to some shady circumstances, and reported it stolen as soon as they knew what happened, months later.

Anyway, I think we all have our fingers crossed for you and your wife...Let's hope her experience with, and view of corvettes is not forever tarnished by this bad circumstance. Like many others, I do hope you'll keep us updated as you resolve this unfortunate situation.

 

For the 3rd time you did nothing wrong. You have a clear title in your hands from your DMV. I would just sit tight on this. You have the car registered in your state and I believe once again if there was truly a problem your State DMV would of let you know about it already. If anyone is at fought here if there is a problem I believe it would be the dealer. Money wise it would be their responsiblilty. SInce they say you are good to go after contacting them I wouldn't worry none. One other thing you do have insurance on the car from what you have told us. Your insurance company I am sure checked the cars VIN out before they insured you. You are covered on this car by them. I just don't see any problems costing you any money on your end like some others see here. I wouldn't volunteer doing anything more if I was in your shoes. Again sit tight. You did mention that a detective called you some time ago about the car and said you may not hear from him again. My guess, he doesn't think much of what is going on. Wait to hear from him again to see what situation you are in. Again sit tight and as someone else said put a Battery Tender on the C5's battery since you plan on keeping the car idle until April.

 

YOURE IN THE CLEAR. Change the locks though!

 

 

I am not going to say what type of business I do, but I have 3 partners who are all lawyers. The advice some people here are giving you is erroneous. The answer may not be black and white. There are many factors to consider before you listen to everyone on this site. If the owner stated the car was stolen and can proof this then he still DOES own this car. This can become a long drawn out legal process. If the friend misrepresented himself has the owner then there will be criminal charges brought against him. I would advise you to check you state laws and I would hire legal counsel. People who say possession is 9/10th of the law are not correct. Again this is not a black and white!!! Think about it before you listen to people who have not education on this matter.

 

Good advice.....

 

Like I stated before.. Take it BACK for a FULL REFUND and go shopping for another C-5 with less issues.. This deal was NO deal!

 

Maybe she was crying because you gave her a camaro instead of a vette.

 

it taint worth it... oh... you know what taint is, don't you???