A dealer may ultimately repossess the when a customer defaults on the loan, the vehicle is used as collateral in lieu of loan repayment. Before the dealer can re-sell the vehicle, an application for certificate of title Form HSMV82040: http://www.flhsmv.gov/dmv/forms/BTR/82040.pdf must be filed with the department requesting a repossessed title listing the dealer as the owner. The dealer can then sell the vehicle and transfer ownership to the next purchaser.