To avoid fraud and theft in car trade transactions, consumers should understands about title information from the selling car. Selling a junk car without a title can be a bit complicated, but still there are car junkers who buy junk car without a title. Do you want to sell your junk car? Here are what you need to know.
Car title information
The title information tells about current condition of a car. The title information is determined based on the major events that ever happened to the car. Therefore, title information helps buyer, sellers, and insurers to determine the car value. Title classifications recognized by the states include:
- Clear title. Clear title will be given to a vehicle that never have any major damage since it was introduced to public.
- Memorandum title or Out-of-State tile. Memorandum title is issued to vehicle that comes from different state. Usually it is given when the primary car owners lend the car to the third party to be used outside their current state.
- Bonded title. Bonded title will be issued when current car owner doesn’t have a proof of title transfer or ownership from previous owner.
- Owner-retained title. Owner-retained title will be issued to a vehicle that have been declared as total loss by the insurers, but it can still be legally driven.
- Salvage title or junk title. Salvage title will be issued to a vehicle that have experienced major damage and have been declared as total loss by the insurers. Vehicle with salvage title is not eligible to be driven on the road. It needs extensive reparation before it backs to the road. Once a vehicle gets salvage title, it will never get clear title anymore.
How to sell junk car without title
Selling junk car without title will be a bit complicated since the buyer may not believe in your right to sell the car. The first step you need to do to sell junk car is finding who buy junk car without a title. Most car junkers accept the junk car without title as long as you can show them the valid car registration and driver’s license. To save your time finding the car junkers, use internet. The search engine will come in handy by giving you a lot of references of car junkers. Call these car junkers and ask them if you can sell junk car without title and how the selling process.
If your junk car doesn’t have title because you lost it, it will be much better if you file the lost and get the duplicate title. Therefore, your options of where you can sell your junk car will be expanded. You can sell your car to private person or dealer if you have duplicate title for your vehicle.
If your car doesn’t have a title because it is hold by the bank, call your bank and ask them how to transfer the title to the person that is going to buy your car.
So, don’t be panic if your junk car doesn’t have a title since there will be a lot of car junkers who buy junk car without a title especially if you are looking in internet.