Beyond the VIN: When a Clean Record Doesn’t Mean a Clean Title
Download MP3Introduction: Discussing the dangers of purchasing a vehicle without a title, illustrated by a recent incident in Texas.
- Case Example:
- A woman attempted to sell a rented vehicle without a title at a discounted price.
- The car was rented from an auto rental company, not legally owned by her.
- Common Misconceptions:
- Buyers may think that a bill of sale is sufficient and that a title check confirms legitimacy.
- Title checks may not reveal any liens or theft since the car was never owned by the seller.
- Title Validity:
- Importance of the Title:
- Buyers must receive a valid title at the time of purchase.
- The title must match the seller's name and be properly signed over.
- Importance of the Title:
- Risks Involved:
- Without a title, buyers risk losing their money.
- A bill of sale is just a receipt and does not prove ownership or that the seller is the rightful owner.
- Consequences:
- If someone purchases the vehicle without a title and later discovers it’s a rental, they risk losing their investment.
- The rental company will reclaim the vehicle, leaving the buyer with no recourse to recover their funds.
- Final Thoughts:
- Avoid buying vehicles without a title, especially newer or more expensive cars.
- Older, cheaper vehicles may carry a lower risk, but the lack of a title still poses significant concerns.
- Resources:
- Visit our website for tools and resources to assist with title recovery.
- Remember, you are not a legal owner until you have a government-issued title in your name.
Moral of the Story: Always ensure you have a proper title to protect your investment when buying a vehicle.
