Top 10 car title questions and answers - part 1
In this video, we tackle more common questions related to car titles:
Vehicle Liens: Understand what it means when there's a lien on a vehicle title and how to resolve it. Checking if the lien is paid off and obtaining a lien release from the financial institution are key steps.
Using a Bill of Sale: Most states don't accept a bill of sale alone to obtain a title because it doesn't verify ownership conclusively. There are specific processes for vehicles older than 15 years where a bill of sale can be used, outlined on our website.
Sales Tax Calculation: Avoiding taxes during the title process isn't advisable. Calculate sales tax based on the vehicle's value and ensure compliance with state regulations. Appraisals and condition reports may be required.
Salvaged Vehicles: Only initiate the salvage vehicle title process if the vehicle has been declared salvage by an insurance company. This designation stays with the vehicle permanently and affects its resale value.
Visit cartitles.com for detailed information on these topics and more. Contact us for further assistance with your title-related inquiries.
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