What does a Car Title Contain?
If you have heard of it several times but are not sure what it is, a car’s title is a legal document that proves one’s ownership of the car. You need this document in various situations. It contains vital information of your car. This information needs to be 100% correct.
Information in the Title of a Car
If you are wondering about can you sell a car without a title, the answer is ‘yes, you can’. Still, it’s important to know what a car title contains.
VIN (Vehicle Identification Number)
VIN is a unique 17 number and letter identification number which is given to all vehicles. It’s located in the car’s title, proof of car insurance, car insurance declaration page, bill of sale, car loan paperwork, vehicle registration card and on the car itself. It’s also mentioned on the driver’s side door visible when the door is open and also on the dashboard.
Odometer Reading on the Date of Car Purchase
Odometer reading is a way to verify when the car came into possession and so, it’s important, because just in case a crime is committed with the car, it can decide whether it was committed before you owned the car or after that or after you sold it. It’s also important for the police to know if the vehicle is stolen.
The cost of registration depends on its weight class. The higher the weight class the higher will be the cost of registration.
Owner’s Full Name and Address
There may be one or multiple owners.
Lender’s Name and Address
This is applicable if you purchase your car using financing. The title is kept by the lender in most states until the loan is paid off. Title is sent to the buyer in other states, but the lender’s name keeps mentioned in the title. Lenders may be more than one.
The Title Assignment contains two sections. One is for the seller while the other is for the buyer.
Sellers: Names of the purchaser/s, their address, date of sale, price, odometer reading, its type, signature, printed name and address of the seller
Buyer: Signature and printed name of the buyer and a space for the name and address of the new lender
Important Info: You’ll get only one chance of filling out this section so, you’re not allowed to make mistakes, no erase, scratch off or using white-out to fix errors. In case of mistakes, you’ll have to request for a duplicate title
Hopefully you are clear about a car’s title. Although it’s possible to sell or buy a car without a title, it’s important to avoid losing this important document for your convenience.