I actually am somewhat surprised that you can get a loan on a TC in a non title state. After all, it's basically a non secured loan. There is nothing to stop you for offering it for sale on Craigslist for example and just writing the purchaser a receipt. Since they don't need to register it in any way it seems as though the trail can disappear in a heartbeat.
Like a stolen computer possibly if the new owner requests service work on it, the loan company could pick up the trail, otherwise it seems to me it would just disappear.