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Learn About Title Brands And Say Goodbye To Guesswork - Autos (99) - Nairaland

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Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 8:48pm On Jan 18, 2017
In the United States the certificate of title for a vehicle (also known as a car title or pink slip; or pinks in the plural) is a legal form, establishing a person or business as the legal owner of a vehicle. Vehicle titles in the U.S. are commonly issued by the state DMV.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 7:11pm On Jan 19, 2017
List of Car Title / Vehicle Title Types
While the specific phrasing of available vehicle title types will vary widely from state to state, most states recognize the following classifications:


Clear Title
Memorandum Title (Out-of-State Title)
Bonded Title
Owner Retained Title
Salvage Title (Junk Title)
Parts-Only Title (Dismantled Title)
Repairable Title
Reconstructed Title (Restored Title)
Recovered Theft (Theft Recovery)

Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 7:11pm On Jan 19, 2017
A sub-brand classification will often accompany any non-clear classification. Sub-brands describe what happened to the vehicle, thereby resulting in the vehicle's current non-clear status. Common sub-brands include:

Collision (or) Accident/Incident
Flood (or) Water Damage (or) Hail Damage
Theft
Vandalism
Fire
Salt (or) Corrosion
Other
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 8:07pm On Jan 19, 2017
Clear Titles: A Clean Slate
The majority of vehicles on the road possess clear titles, meaning the vehicle has not experienced any substantive damage since it was manufactured. Note that clear titles are not indicative of complete or outright ownership as the vehicle may be financed or leased by the current driver. In cases such as these, the title would be clear if there was no damage, but the title would list the leinholder as the bank or financial institution to which the driver makes payments.

Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 8:08pm On Jan 19, 2017
Memorandum Title (or) Out-of-State Title
Some states require their residents to retain in-state titles for any vehicles they operate. In this case, a memorandum title or out-of-state title can be issued if the primary title resides with a different state. This title recognizes that the owner/driver of the vehicle is an authorized operator of the vehicle within the state in which the memorandum title is issued. This is most common when there is more than one owner of a vehicle or a vehicle's owners lend the vehicle to a third party for extended use outside of their home state (a student might get this kind of title if their parents send them to school or college in another state, for instance.)
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 9:06pm On Jan 19, 2017
Bonded Title
A bonded title may be issued if the individual who retains possession of the vehicle has no proof of ownership or title transfer from the previous owner. This title can remain in effect for as long as three years, after which the state may issue a clear title if the original owner of the vehicle has not made claim to the vehicle and/or no substantive damages have occurred to the vehicle (if damages are part of the vehicle's history, the corresponding title would be issued along with the appropriate sub-brand classification.)

Obtaining a bonded title is a rather lengthy and expensive process which may require:

the person seeking title must be a state resident for a certain period of time
a physical inspection of the vehicle including notation of the Vehicle Identification Number (VIN)
a written explanation of how the individual came into possession of the car (preferably corroborated by paperwork such as an invoice)
notarized statements from parties familiar with how you came to be in possession of the vehicle
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 9:34am On Jan 20, 2017
A bonded title may be issued if the individual who retains possession of the vehicle has no proof of ownership or title transfer from the previous owner. This title can remain in effect for as long as three years, after which the state may issue a clear title if the original owner of the vehicle has not made claim to the vehicle and/or no substantive damages have occurred to the vehicle (if damages are part of the vehicle's history, the corresponding title would be issued along with the appropriate sub-brand classification.)

Obtaining a bonded title is a rather lengthy and expensive process which may require:

the person seeking title must be a state resident for a certain period of time
a physical inspection of the vehicle including notation of the Vehicle Identification Number (VIN)
a written explanation of how the individual came into possession of the car (preferably corroborated by paperwork such as an invoice)
notarized statements from parties familiar with how you came to be in possession of the vehicle
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 9:35am On Jan 20, 2017
Owner-Retained Title
An owner retained title is issued when an insurance company has declared a vehicle to be a total loss yet the owner retains possession. The vehicle must remain registered and legally drivable; otherwise, the appropriate classification of salvage title would be issued to the vehicle owner.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 3:10pm On Jan 20, 2017
Salvage Title (or) Junk Title
A vehicle that has been damaged and would cost more than 75% of its original value to repair (75% is the national standard but this may vary from state to state) is considered to be a total loss, resulting in the issuance of a "salvage title" or "junk title." Once a vehicle has been titled as a salvage vehicle, it cannot regain its previous clear title status. Additionally, it is unlikely that a lender, private bank, or credit union will finance any vehicle with a salvage title due to its significantly reduced resale value.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 3:13pm On Jan 20, 2017
A junk or salvage vehicle is not eligible for road use and, in some states, it may never again be re-titled. In other states, a salvage title simply means that additional repairs must be completed (and those repairs inspected or certified by a state-authorized mechanic) before the car can be legally driven again.


Parts-Only Title (or) Dismantled Title
Parts-only salvage titles, also known as dismantled titles, occur when the vehicle is beyond repair due to extensive damage to a major component which places its repair value past the state-recognized maximum. In this case, a salvage title vehicle can be re-titled as a parts-only title, which allows the owner of the vehicle to retain possession while the vehicle's constituent parts are sold or until it can be broken down for scrap metal.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 3:21pm On Jan 20, 2017
Repairable Title & Reconstructed (or) Restored Classifications
If the damage sustained by a vehicle renders it inoperable but repairable, a repairable title can be issued. This title will remain in place until repairs have been completed and inspected by an authorized agent of the state, after which a reconstructed title or restored title is issued.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 1:26pm On Jan 23, 2017
Flood damage: Flood-damaged cars sometimes get a salvage title. Some states will specifically call out flood damage on a car's title, but other states merely use the term "salvage title."

Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 1:27pm On Jan 23, 2017
Hail damage: As with flood cars, the titles of vehicles that are damaged by hail can also get a salvage title if the state does not have a specific "hail damage" designation on the document.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 3:35pm On Jan 23, 2017
Theft recovery : After a vehicle has been stolen and is missing for a certain period of time, the insurance company will pay off the vehicle. If the vehicle is eventually found, the insurance company is free to sell it to a salvager, which will replace any missing parts. Some states will then issue a salvage title for the car.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 3:35pm On Jan 23, 2017
Vandalism : If someone spray-painted or overturned a vehicle and caused enough damage, the car could get a salvage title. No states specify vandalism in the title, however. It will likely be issued a salvage title.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 5:01pm On Jan 23, 2017
Non-Repairable: A severely damaged and non-operable vehicle with no resale value other than its parts can get a "non-repairable" designation, which some states call a "junk title." In these extreme cases, the state won't allow the vehicle to be repaired and it must either be sold to a scrap yard or destroyed. "Non-repairable" isn't a salvage title per se, but it is important to be aware of the term, just in case you come across a vehicle that's been labeled this way.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 11:10am On Jan 24, 2017
Should You Buy a Salvage-Title Car?
There isn't a definitive answer to this. It depends on how comfortable you are with buying a car that has a checkered past. On one hand, salvage-title vehicles can present a value for a first-time buyer, someone on a budget, or someone in need of a second vehicle. In general, buyers can get salvage-title vehicles for two-thirds the price of a car with a clean title, says Richard Arca, pricing manager for Edmunds.com. He adds that luxury vehicles tend to take a greater hit in value when they get a salvage title.

On the other hand, some salvage-title vehicles can be more prone to mechanical problems and have issues with resale value. Mark Binder of Farmers Insurance says there are three things that consumers can do to help minimize the risks of buying a car that will let you down:
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 11:11am On Jan 24, 2017
Common title brands used by most states:

Damaged
Dismantled
Gray market
Junk
Lemon law buyback
Prior police
Prior taxi
Rebuilt
Reconditioned
Remanufactured
Replica
Revived junk
Revived salvage
Salvage
Scrap vehicle
Totaled
Warranty returned
Water damage
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 1:33pm On Jan 24, 2017
Where Do I Look for a Title Brand?
A "brand" is wording on a California Certificate of Title or registration card that indicates certain conditions in the vehicle's history. While most states put history brands somewhere on their titles, the wording varies from state to state.

Although California has indicated prior history on titling documents for many years, vehicle history information is more prominently displayed on the latest revision of both the California Certificate of Title and Salvage Certificate, you will find the title brand in a red box, titled VEHICLE HISTORY, near the upper right-hand corner of the document.

Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 1:34pm On Jan 24, 2017
Why Are Brands Important to Consumers?

Brands indicate what has happened to a vehicle. They may indicate high mileage, significant damage, or chronic problems.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 4:33pm On Jan 24, 2017
Original Taxi or Prior Taxi-Vehicles formerly used "for hire" and which usually have high mileage.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 10:22am On Jan 25, 2017
Original Police or Prior Police-Vehicles formerly used by law enforcement and which usually have high mileage.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 10:52am On Jan 25, 2017
Non-USA-Vehicles manufactured for sale and use outside the United States that have been converted to meet federal and California safety and emissions standards.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 12:47pm On Jan 25, 2017
Warranty Return or Lemon Law Buyback-Vehicles which have been returned to the manufacturer under California's Lemon Law.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 12:48pm On Jan 25, 2017
Remanufactured-A licensed remanufacturer that constructs vehicles consisting of used or reconditioned parts. These vehicles may be sold under a distinctive trade name.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 4:40pm On Jan 25, 2017
What Is a Salvage Vehicle?
Of all the vehicle brands, salvage has received the most attention in the past few years.

The California Department of Consumer Affairs found that more than 700,000 structurally damaged and 150,000 salvage vehicles are returned to streets and highways every year without a safety inspection, and pose a potential hazard to motorists.

A salvage vehicle is a vehicle that has been wrecked or damaged to such an extent that it is considered too expensive to repair. The California Certificate of Title, license plates, Application for Salvage Certificate or Nonrepairable Vehicle Certificate (REG 488C) form, and the required fee are submitted to DMV to have a salvage certificate issued for the vehicle.

A revived salvage is a salvage vehicle which has been repaired and reregistered with DMV.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 4:13pm On Jan 26, 2017
Inspect the vehicle. Some of the following clues may indicate the vehicle has an undisclosed salvage history:

Signs of major repairs on the inner fender structures.
Mud, mold, or rust under the carpet in the trunk.
Vehicle identification number (VIN) plate attached with materials other than rivets.
Safety restraint light is always on.
Airbag covers are resealed or improperly installed.
National Highway Traffic Safety Administration (NHTSA) labels which usually appear on the doors, inside hood, tailgate, and hatchback are missing.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 4:13pm On Jan 26, 2017
Where Can I Find Additional Information?

Check the vehicle history, visit the National Motor Vehicle Title Information System website at www.vehiclehistory.gov.
Check a database of vehicles and watercraft affected by Hurricanes Katrina, Rita, and Sandy, visit the National Insurance Crime Bureau (NICB) website at www.nicb.org.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 5:20pm On Jan 26, 2017
Abandoned title
Abandoned titles are issued to cars that have been impounded by a registered towing company or operator, or cars that have been abandoned for many years.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 8:56pm On Jan 26, 2017
Salvage title or Junk title
If you file a car claim, and the cost of repairs exceeds the actual cash value of the car, the company will allow you to retain the vehicle if it is declared a total loss, but DMV will only issue a salvage title. When this happens, you can still keep the car and rebuild it or use it for parts. You will not receive a clear title, it may be marked ‘REBUILT,’ once repairs are complete.
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 9:47am On Jan 27, 2017
A vehicle that has been "salvaged" or "rebuilt/restored"
will be issued a different kind of Utah title, referred to as a "branded" title. A salvage vehicle's Utah title will state: "Salvage." If the vehicle has been rebuilt, the title will say "rebuilt/restored."
Re: Learn About Title Brands And Say Goodbye To Guesswork by Export1: 9:48am On Jan 27, 2017
Utah
law allows, under limited circumstances, some salvage vehicles to be rebuilt and to have the "brand" removed from the title if the vehicle was not damaged by flood or if the vehicle is newer than seven years old.

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