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In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan. Car title loans frequently involve high interest rates, a short time to repay the loan (often 30 days), and a loan amount less than the car's monetary worth. The borrower also risks losing the ...
Sometimes, signing over a car title can be more difficult, especially if the vehicle belongs to deceased owners or there's a lien on the vehicle. Here are a few unique situations: Signing Over a ...
American state-issued registration certificate from 1917. A vehicle registration certificate is an official document providing proof of registration of a vehicle. It is used primarily by governments as a means of ensuring that all road vehicles are on the national vehicle register, but is also used as a form of law enforcement and to facilitate change of ownership when buying and selling a ...
Verify the name: The name on the car title should be the same as that of the person selling the car. If there are two names on the title, it may be necessary for both individuals to sign for the ...
For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some ...
The same Mercedes was sold to three different buyers, but the dealership didn’t turn over its title because it didn’t have it. In one case, the dealership repossessed the car without warning ...
When an insurance company deems your vehicle a total loss, you may receive a salvage title. This car title indicates that your vehicle has been badly damaged, usually after a major auto accident ...
The National Motor Vehicle Title Information System (NMVTIS) is an electronic system that gives valuable information about a vehicle's condition and history. NMVTIS allows consumers to find vehicle information such as title data, most recent odometer reading, history of make and model, and theft records, [1] but not maintenance or repair history or information about manufacturer recalls. [2]