Frequently Asked Questions

What Exactly Is A Car Title?

A "pink slip" is what they call an auto title and is a certificate of legal importance showing ownership that is issued by DMV or Department of Motor Vehicles. The information, which is on it, is the owner.s address and name along with the model, make, and the year of that vehicle as well as the date first sold.

This auto title will be an important type of document so it will often be kept in a location, which is secure, or safety deposit box. When someone is having the vehicle sold, this auto title will need to be signed over to the buyer. The person that is buying the vehicle will then take it to a DMV to have the car registered with their name. The DMV will prepare a fresh auto title, then mail it to the new owner.

Along with the lien holder or owner, an auto title will also have the VIN or vehicle identification number. It is a number that is unique, which will appear on the dash on a strip that is steel of that vehicle, compartment of the engine, or in the door jam of the driver.

An auto title will also have "salvage" only if this vehicle has been in a auto type of accident in which the insurance company has claimed has been a total loss. With this case it will be "junked", then it will be bought at a dealer for junk by the third party that will repair it and resell it.

How Does Someone Have It Replaced?

If the title is stolen, lost or damaged, you have to file a Duplicate Title application at the local DMV office or at the office for the county tax collector. Of course the fees will vary from state to state for a new title and many of the DMV offices send the title that is replaced in the mail.

1. You will first have to contact your state's DMV.
2. Next you will need to ether download or pick up the Duplicate Title application form.
3. You will need to have the Duplicate Title form completed.
4. After this you will need to submit the Duplicate Title form.
5. The last thing is to wait for the new title to be sent to you.

What Is The Car Title Loan?

You will be able to apply at a bank for the loan. The car title loan is an instant loan, which you will be able to have your title of the car pledged for security for the amount for the loan.

Rates For The Auto Loan

A downside for the car title loan is that they will carry rates of interest, which are high; the reason for this is the risk that is involved for the lenders. If you are someone that intends to get a car title loan, here are some of the things that are important you will need to know:

3 Tips For The Car Title Loan

1. The first thing is that you will need is a title that is clear.
2. Next you will be able to borrow the value of your car.
3. It must have a period of repayment that is short.