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TYPES OF AUTO TITLES SERIES: PART 1-Names of Different Auto Titles
What is an Auto Title Service?
SERIOUS AUTO TITLE PROBLEMS: Dealer/Auction Went out of Business Without Giving a Title (Segment 5)
SERIOUS AUTO TITLE PROBLEMS: DMV MADE A MISTAKE ON MY AUTO TITLE! (SEGMENT 4)
SERIOUS AUTO TITLE PROBLEMS: RECEIVED A JUMPED AUTO TITLE (SEGMENT 3)

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IFTA FILING 2ND QTR 2011 IS DUE
VEHICLE TITLE SKIPPING
Multiple Owners on a Vehicle Title
WHAT IS A NON REPAIRABLE CERTIFICATE
CAR TITLE MISTAKES BY THE SELLER AND THE BUYER (SEGMENT 1)

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LIEN MISTAKES ON AUTO TITLES
Liens on Vehicles & Titles: Part Two
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Mistakes on Vehicle Titles
Motor Carrier Permits
Multiple Owners on a Vehicle Title
NON-REPAIRABLE CERTIFICATE
Odometer Discrepancies
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SALES TAX ON VEHICLE IN VIRGINIA
Salvage Title and Branding
Selling a Vehicle Without a Title
Selling a Vehicle: Necessary DMV Documents
SERIOUS
SERIOUS AUTO TITLE PROBLEMS
Starting a Trucking Company
Tips to Prepare Your IFTA Quarterly Taxes
Title & Register an Antique Vehicle
TITLE SKIPPING
TITLING A TRAILER
TOW COMPANY WON'T RELEASE VEHICLE
Trucking Citations
TYPES OF AUTO TITLE SERIES
Unified Carrier Registration (UCR)
VEHICLE LIENS PART ONE
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Wisdom & Authority Title Solutions

April 2015

SERIOUS AUTO TITLE PROBLEMS: SELLING A VEHICLE WITHOUT A TITLE (SEGMENT 2)












You have a vehicle that you need to sell, but you don't have the title.  You decide to just give the buyer a bill of sale and tell them that they can get a title with just that.  No worries right?  After all, you can't find the title (we'll see...)  In this next segment of Serious Auto Title Problems, we'll take a look at Selling a Vehicle Without A Title.  Matters that will be regarded are: reasons why people sell vehicles without titles, the types of people who sell vehicles without titles and the consequences that arise when selling a vehicle without a title.


Reasons Why People Sell Vehicles Without Titles:

The main reason why people sell vehicles without titles is because they don't want to be bothered by DMV and the process of getting a title.

Other Reasons Are:

  • The seller isn't the legitimate owner of the vehicle and lacks proper ownership documents to begin with.

  • A car flipping scheme is present.  The individual/s don't make it a priority to get a title because they just want to flip the vehicle for quick cash.


Types of People Who Sell Vehicles Without Titles:

When it comes to people selling vehicles without titles; generally you'll find the following:


  • Car Thieves

  • Individuals who have a lien on the vehicle and no longer want or can make payments on the vehicle and looks for a way to sell their vehicle quickly, to make quick cash.

  • Illegal "dealers"

  • Car flippers/curbstoners

  • Individuals who decide buys a vehicle without receiving a title and later changes their mind about keeping the vehicle and decides to sell the vehicle even though they don't have a title. As a result a title skipping issue occurs.



Consequences When Selling Vehicles Without Titles:

While selling a vehicle without a title may not seem like a big deal, and the opportunity to escape DMV red tape may be tempting; the following outcomes occurs; should you decide to sell a vehicle without a title:


  • Fines and or imprisonment (as selling a vehicle without a title is illegal)

  • Dealers can lose their dealer license

  • Lawsuits can be brought on by the buyer who didn't receive a title from the seller/owner of the vehicle.

  • Lienholders can take legal action against their customer who decides to sell the vehicle without their consent-NO TITLE WAS CLEARED AND RENDERED.



While it may appear effortless to sell a vehicle without a title; a warning to those who choose to do so is that legal persecution and financial misfortune is around the corner should they avoid taking the legal path in obtaining a title.


Wisdom & Authority Title Solutions LLC is your title source and expert on basic and extremely complicated title matters.


©2015 Wisdom & Authority Title Solutions LLC. All Rights Reserved.

SERIOUS AUTO TITLE PROBLEMS (SERIES)

In this sixth part series of Serious Auto Title Problems, the veil will be lifted off of culprits that cause DMV rejection, delays, and or financial loss due to title mishaps.  You are encouraged to follow these series from start to finish; as you or someone you know may encounter one or more of the situations covered.


At a glimpse, the first two segments that will be covered are:

  • BUYING A VEHICLE WITHOUT WITH NO TITLE
  • SELLING A VEHICLE WITH NO TITLE














©2015 Wisdom & Authority Title Solutions LLC

SERIOUS AUTO TITLE PROBLEMS: BUYING A VEHICLE WITHOUT A TITLE (SEGMENT 1)











So you come across a nice vehicle that's for sale?  It seems to be what you want and the seller even gives you a deal that you simply can't refuse.  There's only one thing...., the seller doesn't have the title to the vehicle.  In this first segment in the Serious Auto Title Problems series; I will highlight the reasons why someone would  buy a vehicle without a title, red flags to watch out for when buying a vehicle without a title and the consequences of buying a vehicle without a title.


Reasons Why People Buy a Vehicle Without a Title:

  • The buyer believes that they received too  much of a great deal on the vehicle to pass it up.  They buy out of urgency and desperation.

  • The buyer may believe that the vehicle is for parts only.



Red Flags to Watch Out for When Buying a Vehicle Without a Title:

The following red flags are usually present in a situation when an individual buys a vehicle without a title:


  • The seller is selling the vehicle at an amount that is significantly lower than book value.

  • A sense of extreme urgency to sell the vehicle is shown by the seller.

  • The seller stresses a Bill of Sale is ALL YOU NEEDin order to get a title from the DMV or there's the case in which the seller may  not even give you a Bill of Sale at all.

  • The sellergives excuses why he can't give you a title to the vehicle; i.e. the title is lost, destroyed, he's waiting on the title from the dealer, bank, etc.

  • The seller can't or won't give you any legitimate proof that they are the actual owner of the vehicle.


Consequences of Buying a Vehicle Without a Title:


Regardless of how sweet the deal is for the vehicle that you want, if there is no title present, you will open the door to the following consequences:

  • DMV will reject your transaction because you lack a title or a properly assigned title to the vehicle.

  • There is the possibility that a lien is on the vehicle.  If the lienholder recovers the vehicle; you will encounter financial loss.

  • The vehicle could be stolen.

  • Salvage issues could be present on the record of the vehicle.



In essence, count the costs when considering buying a vehicle without a title.  Even if you have a reason to believe that the vehicle is not stolen, there is no lien present, salvage issues, etc. there is always the high possibility that delays and financial loss will occur.






















©2015 Wisdom & Authority Title Solutions LLC. All Rights Reserved.

TOW COMPANY WON'T RELEASE VEHICLE: NO PROOF OF OWNERSHIP















In this post, I will discuss the issue of tow companies not releasing vehicles, due to a lack of ownership (from the owner).  While it is no surprise to hear about a vehicle being towed due to abandonment, parking in the wrong zone, etc., there is another side to towing that most people don't regard.  The side that I'm talking about is when the owner of a vehicle is denied the release of their vehicle due to a lack of ownership proof (registration and or title) in their name.  For those of you who purchased a vehicle; but haven't titled and or registered the vehicle in your name yet, you might be wondering can a tow company withhold your vehicle if can't provide proof of ownership.  I'll answer that question shortly.  In this post, the following will be address: Can a tow company hold a vehicle if the "owner" has no proof of ownership?, Why tow companies won't release a vehicle without proof of ownership? and What to do if your vehicle is towed and you have no proof of ownership?



Can a Tow Company Hold a Vehicle If the Owner Has No Proof of Ownership?

You bought a vehicle and the vehicle was towed (possibly because you didn't have tags on it, maybe because you didn't get it around to getting the vehicle titled and registered), so can you just pay the tow bill and go on your merry way?  Technically no, because the fee is only a minor part of the situation.  The rest of your problem is proving ownership.  A tow company, legally can hold your vehicle if you fail to provide a proper title and or registration in your name for the vehicle; even if you are prepared to pay the tow fees.  If you buy a vehicle without a title or you don't have proof of the vehicle being registered to you, then you're in a situation where you'll have a challenge proving legitimated ownership.  Note: A BILL OF SALE WILL NOT WORK!!  Note: This is another reason why it's a bad idea to buy a vehicle without a title!!



Why Tow Companies Won't Release a Vehicle Without Proof of Ownership?

The reason why tow companies won't release a vehicle without proof of ownership is because of liability.  In essence if they release a vehicle and the alleged owner can't prove ownership, who's to say that the vehicle isn't stolen?  In continuation; should they choose to release the vehicle and it is in fact stolen; then they will be liable for damages that the Actual Owner has incurred from losing/or having their vehicle released to another party.



What to Do if Your Vehicle is Towed and You Have No Proof of Ownership?


If your vehicle is towed and you have no proof of ownership, the main thing to keep in mind is TIME.  Time is critical because tow companies can place a tow lien on a vehicle usually within 10-30 days of having the vehicle in their possession, however many may wait 30 days or a little longer before filing for a lien.


           Regard the Following:

  • Try to get the title from the person who sold you the vehicle, even if they have to go through the legal channels to get it done, so you can get the title transferred in your name! Note: Being that they sold you the vehicle without giving you a title (provided that you paid in full), they are responsible for giving you a properly assigned title!!

  • Ask the tow company for extra time (if possible) regarding your situation.

  • In the event you aren't able to generate a legal title and your vehicle is put up for auction, you can bid along with any other person that has an interest in your vehicle.



On a final note; should you choose to buy a vehicle without a title; you're essentially rolling the dice.  In the event your vehicle is towed and you don't have a legal title and or registration, there's the possibility that you could find yourself in the tow issue that was covered in this post.  Please be advised that the longer it takes for you to provide the tow company with proof of ownership, the less time you'll have in trying to get your vehicle back. 


Wisdom & Authority Title Solutions is available to assist you with your title situation today.











©2015  Wisdom & Authority Title Solutions LLC. All Rights Reserved.













SALES TAX ON VEHICLES TITLED IN VIRGINIA









As a vehicle title specialist, I'm often asked the following by my clients (especially my new ones); why do I have to pay sales tax on my vehicle in order to get the title, I never paid sales tax on a vehicle before in Virginia, etc.  After hearing the sales tax issue pop up often, I feel the need to address this very important and often confusing issue.  In this segment, I'm going to address sales tax on vehicles titled in Virginia.  Issues that will be covered are: what is the sales and use tax is and the current rate, the difference between sales and use tax and personal property tax in Virginia and exemptions from being charged the sales and use tax fee.



What is the Sales and Use Tax on Vehicles in Virginia and What is the Current Rate?


The sales and use tax is a tax levied in the Commonwealth of Virginia on motor vehicles that are titled and will be used in the commonwealth.  The current  tax rate is 4.05% or a minimum of $75.00 (whichever is greater) based on the gross sales price of the vehicle.



The Difference Between Sales and Use Tax and Personal Property Tax on Vehicles Titled in Virginia:


The differences between sales and use tax and personal property taxes in Virginia are:


Sales Tax:

1. Remitted to the VA Department of Motor Vehicles
2. Is due at the time the vehicle is to be titled in Virginia (based on the gross sales price of the vehicle)
3. Is paid only one time, while the new owner/transferee is taking ownership of the vehicle


Personal Property Tax:

1. Remitted to the Commissioner of Revenue or (Finance/Tax Collectors Dept.) based on the city, town or county.
2. Is due yearly (based on the book value/depreciation value of the vehicle).  Note: Many localities also charge a motor vehicle "decal" fee.  White city decals are no longer used for many VA localities; you still must pay the decal fee, which is added to your personal property tax fee (DEPENDING ON YOUR LOCALITY).




Exemptions from Sales and Use Tax in Virginia:


The following are exemptions from sales and use tax fees in Virginia:

  • VEHICLES THAT ARE STATE, LOCAL OR FEDERALLY OWNED

  • BOUGHT A VEHICLE WITHIN THE LAST 12 MONTHS, THE VEHICLE IS ALREADY TITLED IN YOUR NAME (HAVE OUT OF STATE TITLE) AND YOU HAVE PROOF THAT YOU PAID SALES TAX IN ANOTHER STATE

  • PARENT GIVING CHILD VEHICLE

  • CHILD GIVING PARENT VEHICLE

  • SPOUSE GIVING SPOUSE VEHICLE

  • COMMERCIAL VEHICLES THAT ARE AT THE HVUT TAX STATUS

  • LICENSED VIRGINIA DEALERS

  • 501c3 ORGANIZATIONS

Note: This isn't a full listing of exemptions



As I end this segment, I want to add that if you are leasing a vehicle;  sometimes you may end of paying sales tax twice. For example, you will pay at the beginning of your contract and if you buy the vehicle out, you will be taxed again.  It is very important to know what your tax responsibilities are in your lease agreement.

If you have sales tax issues pertaining to a motor vehicle matter, Wisdom & Authority Title Solutions LLC is able to assist you. 











©2015 Wisdom & Authority Title Solutions LLC.  All Rights Reserved.