Shredding the Red Tape: Navigating the Certificate of Destruction for Non-Repairable Junk Titles
Download MP3 Introduction to Parts-Only Vehicles:
- Exploring the phenomenon of vehicles listed as "parts only" in auctions like salvage auctions, copart auctions, or IAA.
- An explanation of what "parts only" means: insurance companies or sellers designate vehicles for dismantling rather than resale as whole units.
Potential Value of Parts:
- Detailed breakdown of the components in a parts-only vehicle, highlighting their potential value.
- Emphasis on how the sum of the parts may exceed the value of the vehicle itself.
Legal Restrictions and Considerations:
- Warning about the legal implications of purchasing and dealing with parts-only vehicles.
- Clarification on the limitations imposed by the United States title system regarding re-registering or exporting parts-only vehicles.
- Discussion of potential enforcement by Customs and Border Protection (CBP) regarding the dismantling requirement for exporting.
Options for Parts Only Vehicles:
- a brief overview of options for dealing with parts-only vehicles, including reconstruction as assembled vehicles or major component parts.
- Caution against fraudulent schemes to obtain clean titles through illegal means like title washing, highlighting the legal consequences.
Legal Advice and Conclusion:
- It is recommended to seek legal advice before attempting to deal with parts-only vehicles.
- Strong advice against misrepresentation or illegal actions, stressing the potential legal repercussions.
- The final suggestion is to consider the profitability and legality of dealing with parts-only vehicles before investing time and money.
Call to Action:
- Encouragement to access further information through provided links, including written resources and one-on-one consultations with certified title agents.
