Explain what a title is to me (for a car)

[Al Neri]

What exactly does it mean if you don't have the title to the car? you have the title to the car? it is a salvaged title?

people make a big deal over this, but I don't know what this means!

 

[MercenaryForHire]

Title of ownership.

If you "have the title" you have the piece of paper that says you own it. Aka, "pink slip."
ex1: "FS: 1993 Civic CX Hatch, title in hand"
ex2: "We runnin' this fo' slips, homie."

A "salvage" title means the car was in a wreck, probably written off, and rebuilt.
ex3: "FS: 1995 Toyota Supra TT, salvage title"

- M4H

 

[sash1]

proof of ownership

 

[andy04]

What exactly does it mean if you don't have the title to the car? - STOLEN

you have the title to the car? - DEBT/LOAN

it is a salvaged title? - WRECKED

 

[DougK62]

wow

 

[iamwiz82]

Originally posted by: andy04
What exactly does it mean if you don't have the title to the car? - STOLEN

you have the title to the car? - DEBT/LOAN

it is a salvaged title? - WRECKED

Uhh... having the title does not mean it has a lein against it.

 

[alexeikgb]

If they have no title... turn around and walk away
If they have a lean on the title.... they still owe money (financing).... pia to buy since they need to pay off the lean holder, get the title, then transfer to you...
If they have title in hand (and it's clean)... that's what you want

Salvage title means the car was once totaled, but it could be rebiult by now... so approach with caution

 

[Al Neri]

so only buy a car if they have the title in hand?

 

[NuroMancer]

Originally posted by: iamwiz82

Originally posted by: andy04
What exactly does it mean if you don't have the title to the car? - STOLEN

you have the title to the car? - DEBT/LOAN

it is a salvaged title? - WRECKED

Uhh... having the title does not mean it has a lein against it.

Agreed, he probally just missed that option as so many people are in debt to get their cars

 

[d33pt]

Originally posted by: Don Rodriguez
so only buy a car if they have the title in hand?

yes, or if you can go down to their bank to pay it off with them and get the title right there. otherwise you'd have to trust them with a bill of sale until they get their title from the bank.

 

[wiredspider]

If you don't know, I would suggest not buying the car by yourself, get someone with more experience ...

 

[andy04]

Originally posted by: d33pt

Originally posted by: Don Rodriguez
so only buy a car if they have the title in hand?

yes, or if you can go down to their bank to pay it off with them and get the title right there. otherwise you'd have to trust them with a bill of sale until they get their title from the bank.

Well... you can contact the bank directly too with his help and make sure that hes right

 

[Al Neri]

it was just a question.

i wont be buying a car for another 4-5 months!

 

[Allanv]

so in the USA you can sell a car on finance and the unlucky new owner gets to pay for the remainder of the term of the loan?

so say a 10k car with 10k outstanding finance what the hell is it worth to buy?

or did i miss something?

 

[wiredspider]

Originally posted by: Allanv
so in the USA you can sell a car on finance and the unlucky new owner gets to pay for the remainder of the term of the loan?

so say a 10k car with 10k outstanding finance what the hell is it worth to buy?

or did i miss something?

Well 10k worth of car.

Maybe it's like 11k worth of car with 10k of payments left.

 

[mzkhadir]

http://www.wisegeek.com/what-is-an-auto-title.htm