I see dirt cheap trucks being sold with no titles.

You can absolutely get title to a vehicle if you present the state with the Bill of Sale or other valid documents showing you own a vehicle.

The problems become monumental when you take on the State at the DMV and file Title Claim to said purchased vehicle whatever it might be.

You better hope it is not a stolen vehicle, used in commission of a crime or what have you. If that is the case the State will confisicate it and you are out the money.

The process of getting a fresh clean title takes months. So the vehicle, whatever it is has no value to you until your State presents you with a clear title to it.

Repos are different. I had a repo happen once that I did on my own, turned in the car. They sold it at auction after necessary repairs and so on. The difference between the balance owed and the sale barn price was assigned to me and reported against my credit. The STate was informed of the repossession and I was required to turn in my tags and title etc. Or face fines by the State for failure to do so.

There is a third special form of title. If you have bought a vehicle what is called SALVAGE, meaning junked, good for parts only and the State hands you a Salvage TITLE not a clear TITLE. YOU are screwed. You cannot license or insure a salvage titled vehicle. It's strictly essentially a box of parts maybe with it's own wheels. We used to deal with them all the time at the auction house.

Certain vehicles never see the road or get sold again, usually the coffins. When the law gets done with their end, they are sold for weight value in metal and crushed. And that will be that. A wrecked caddy might bring in a few hundred dollars in scrap value.

We have sent vehicles (Sold to) junk yards before for the purpose of them to strip for parts to sell at profit. The title went with the vehicle to them.

There is a small lot on the freeway near Searcy itself that used to be filled with older iron. Just last month I realized it's almost empty now. Maybe 10 left at most. For me those represent a time in my life long since passed. Once those are sold off and taken out of there, the lot will possess a land value to be sold and the owners can move on.

 

That's great! I can always use parts.

 

In some states you can sell a vehicle with a salvage title. Here in Tn is one. The other kind you didn't mention is abandoned stuff. Repair bill too high, etc. You have to run a public ad in two newspapers with the VIN and see if anyone claims it. If not, you apply for a lost title.

 

Title loan may have paper work till some one pays late fees and loan off then you can get a clean title?

 

Greetings....
Before you Invest any monies in the Truck....Make two calls...
1) The State DMV and check the VIN # status and request a Certification.
2) Call the local L.E.O Office and again check the VIN##...for Recent Reports.
3) If a Bank Institution shows up on Reports...then call the Bank directly....
4) Only then......it is safe to "blow" your cash away....
Happy Trails..!!!!

 

kinda would just stay away because the main thing that I have learned in my 35 yrs of driving is if it sounds to good to be true it useually is

 

I got my SLC500 Mercedes that way; abandoned vehicle.
Took 3 months of waiting for all the stories to check out and the bank to sign off on it.
The guy just threw the key on the seat in a parking lot and walked off.
(Lucky for me; the key is 300 bucks - programmed to the car.)
Book on it is 18 grand; I gave 'em $3,500.
It's a beauty, white, not a mark on it, except where I just hit the door with a stone
from my tractor when I was mowing last week. Grrr.
Dam pix won't send from my phone again. Double Grrr.

 

I see dead people.

 

Depends on teh story.

Always a good idea to make sure it's not stolen property.

Around here, we send a certified letter to last known address on registration. No one signs in 30 days. You take that to dmv for a new issued title. A police report has to accompany failed delivery of letter to prove it's not stolen.

It's been a couple of decades since i did it so the rules may have changed since. And that's for abandoned property. I don't know what your looking at that's for sale without a title. Occasionally we do get a car or something listed without a title. Usually the vehicle is trashed though and not worth the hassle of obtaining a title. So it only be good for parts.