Why is a Car Title Important?
Buying a car is a serious deal that involves several documents and requirements. And one of the most important parts of the process is the car tite. The car title does not only have to do with buying cars as inherited and gifted cars also need to have a car title. But before we get into what makes this document so important, let us start by establishing its meaning and context.
What is a car title?
It is the legal form that officially identifies the owner of a vehicle. New and used vehicles, bought from dealerships and hand-to-hand transactions, all have to be sold with a car title, otherwise the new owner may be in serious legal troubles. The fact that the car title is the only one thing that can legitimately prove that you own your vehicle is the car title makes it very essential. If the car title is lost, unavailable, or has to be replaced, the procedure can be nightmarish and that’s why it is best to keep it safe. In fact, in Florida, you need to get/update your car title to complete transactions if you're buying/selling a car, you’ve inherited a car, changed your name/address, or you want to donate a car for charity. So, what exactly is in a car title that makes it important?
Contents of a Car Title
Car titles are like ID cards for cars and they contain information about the car and the previous/current owners. The content of a car title may include the Lien holder's information if there is a lien against the car, Vehicle Identification Number (VIN), Vehicle make, model & year, License plate number, Owner's name and address, and information about any life events or damages in the car’s history, if it isn’t brand new.
Importance of a Car Title
In addition to containing details about the car and the owner/lien holder, the car title is your number one proof of ownership for the vehicle. It can also serve as a valid collateral for a loan, when you need to prove that you own the vehicle being tendered. The person or institution issuing you the loan will then place a lien on the car title until your loan is repaid, after which you can get a new title without the lien.
Before buying any used car, be sure to check the title’s legitimacy and type. You can run a vehicle history report with the VIN number and get the car examined by your trusted mechanic to spot any unrecorded damages on the car. You should also look out for title washing, which is when the car title is made ‘clean’ when it’s actual condition isn’t just so the seller can get a good deal.
Being in possession of an illegally issued car title can cause serious problems so the best thing is to follow up with the car title transfer process if you are buying a used car. At Auto Tags of East Broward , we assure you that only legal processes and procedures will be used to get your car title swiftly! Whether you are looking for Broward tag renewals, Broward car titles, any Broward auto tag needs, or registrations, East Broward Auto Tags has it all. We are one of the best Broward auto tag agencies around - check us out for all things Fort Lauderdale auto tags agency news.