There are many common misperceptions about used car titles. Typically, people assume they must have the title if they want to sell it. (Some may even wonder if it’s possible to sell a junk car without the title.)
While it’s true that not having a title can be a red flag to many buyers, oftentimes, there’s a perfectly logical explanation as to why it’s missing. Perhaps someone abandoned the vehicle on the current owner’s property, or the original title was lost or stolen.
A title, or pink slip, is the legal document proving a vehicle’s ownership. The Department of Motor Vehicles (DMV) is in charge of issuing titles to car owners, and it is up to sellers to issue the title to any new car buyers.
– A rebuilt or reconstituted title: the vehicle was once salvaged but was rebuilt and is road-worthy againEach title provides information such as the vehicle make and model, vehicle identification number (VIN), color, mileage, license plate number, and the owner’s name and current address.