5 Common Types of Used Car Titles that You Might Come Across
As you may already know, the title is the most important piece of paper of any vehicle. It is your proof of ownership. It says a lot about the vehicle. And it is the document with which you compare a used car’s history to check the vehicle’s quality. However, not all used car titles are the same. They contain more information than the current owner’s name and address. As a used car buyer, you need to possess the basic knowledge about the title’s various types to be able to read the fine print better and invest in the right car. Typically, you will come across the following types of titles while shopping for used cars.
. A clean title
This is what you will find in the top used car dealerships on White Horse Road, Greenville, SC. A clean title shows that the car that you are about to buy had a clear line of ownership, no damage due to accidents throughout its history, and all liens on the vehicle have been cleared. Many dealers also call it a clear title where the used car has nothing to hide. This is where you should be placing your bet.
. A salvage title
A vehicle carries a salvage title if it had been in a serious accident that had caused extensive damages. The repair cost was more than a certain limit and thus the car became branded as salvage. Such used cars are typically sold to dealers by insurance companies. They come cheap due to their degraded quality. If possible, avoid buying cars with salvaged titles.
. A title with a lien
If the car still carries unpaid credits, then the title carries a lien. People often sell their car within their credit period and the lien is transferred to the next owner. In some instances, car owners draw out title loans and the dealers are forced to sell the vehicle with a lien as the borrower failed to pay the amount.
. Out-of-state title
In some used car lots on White Horse Rd, Greenville, SC, you might find cars that had been registered in another state. Such vehicles will carry an out-of-state title. Upon purchase, you will have to approach the DMV to transfer the title to South Carolina and obtain ownership in your home state.
. Washed title
No reputed dealership with buy here pay here on White Horse Rd, Greenville, SC, will be selling you a used car with a washed title. One, it is illegal. And two, it is highly unethical. With title washing, small-time dealers transfer the car from one state to the other and hide facts that were supposed to be mentioned. The vehicle can be flood-damaged or carry a faulty odometer and the washed title will have no mention of the same.
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