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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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Wisdom & Authority Title Solutions

February 2015

SKIPPED AUTO TITLE PROBLEM






If you've read my initial blog on vehicle title skipping, you already have a glimpse of what title skipping is.  Adding to that thought; in this post, I'm going to highlight those who create title skipping, red flags to look for in title skipping and how to protect yourself from title skipping.


Creators of Auto Title Skipping

Creators of auto title skipping are those who either do so directly or indirectly.  In a sense, you have those who create title skipping intentionally or those who do so by mistake or simply a lack of knowledge.  Let's examine the two cases:

A. Intentional Title Skipping:

Individuals who sell vehicles and or pass titles along with the intent to defraud with either a title being present or absent, and or a case in which the title hasn't been transferred properly. Examples are:

  • Individuals "flipping cars" while portraying themselves to be legitimate dealers
  • Car Thieves
  • Persons who still owe payments on their vehicle, but will try to sell the vehicle unlawfully; usually with the purpose of quick financial gain


B. Unintentional Title Skipping:

Individuals who title skip with no intention on title skip with no intention to defraud.  In this case a title may or may not be present; and the title may or may not be transferred properly. Examples are:

  • An individual who bought a vehicle and later changed their mind and decided to sell the vehicle before actually getting it titled into their name first
  • An individual who decides to sell his vehicle without a title, can't find the title or simply doesn't want to be bothered with the DMV to get a duplicate title

Note: Regardless of the action; intentional or unintentional, title skipping is illegal and can place one in the hot seat with DMV and law enforcement.



Red Flags of Auto Title Skipping

Being proactive with auto title skipping issues is important.  Some red flags to be aware of are:

  • Someone selling a vehicle without presenting a title in their name
  • Multiple ownership sections on the title filled out without being properly reassigned
  • The seller giving excuses as to why they can't produce a legitimate title to the buyer
  • Individuals that alleged to be "dealers" but flip vehicles instead
  • The seller is reluctant to provide legitimate documents pertaining to the vehicle (clear title in their name, lien release if necessary, bill of sale, dealer license number (if dealer), etc.
  • A seller that is selling a late-model vehicle at a value that is significantly lower than book value!


How to Protect Yourself From Auto Title Skipping

To avoid becoming a victim of title skipping, the following are tips that you should adhere to:

  • If the person selling you the vehicle is an individual; ask to see their I.D. and ensure that they are the person on the title
  • Always get a Bill of Sale form the seller
  • If the person selling you the vehicle is claiming to be a dealer; ask for their dealer license number, a buyer's order and an odometer disclosure (MEET THE DEALER AT THE DEALERSHIP ONLY AND NO WHERE ELSE)!!
Note: Legit dealers are only authorized to do deals at their legal place of  business only.


If you are involved in a title skipping situation, Wisdom & Authority Title Solutions LLC is able to provide you with the guidance and consultation necessary for your situation.



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








LIEN MISTAKES ON AUTO TITLES (SEGMENT 4)





COMMON AUTO TITLE MISTAKE ISSUES SERIES

LIEN MISTAKES ON AUTO TITLES (SEGMENT 4)



In the final and fourth segment in the Common Auto Title Mistake Issues Series; the focal point will be placed on lien mistakes.  Lien mistakes on auto titles is a very serious matter because the collateral or security of interest of the lienholder can be in jeopardy if and when lien mistakes occur.  To look further into lien mistakes on auto titles; I will discuss the types of lien mistakes that occur, the seriousness of lien mistakes and how to keep lien mistakes from happening with your auto title transaction.


TYPES OF LIEN MISTAKES:

First, the types of lien mistakes that usually occur with auto titles are:

1. Wrong Lienholder Being Recorded: Sometimes the mistakes can occur on the paperwork at the dealership or by the DMV entering the wrong lienholder code.

2. Transferring of Lien Errors: Occurs when the old lienholder is kept on the title, instead of being removed and adding the new one or the old and new lienholder both are on the title.

3. Lien Recorded in Error (Case of a "Clear Title"): This situation comes about when the buyer has rendered payment for the vehicle in full, but somehow a lien is reflected, on his/her title.  Note: most likely a lien was put on the paperwork in error somehow.

4. Forgetting to Record a Lien: Occurs when the buyer is getting his/her vehicle financed, and the title safeguards the interest of the financing company.  Rather than having a lien placed on the title (so that the lienholder receives it), the buyer receives the title instead. 




THE SERIOUSNESS OF LIEN MISTAKES ON AUTO TITLES:

Failing to record, remove, or transfer a lien on an auto title record is serious; as financial loss can occur in regards to the lienholder, and make selling the vehicle a challenge for the seller. Accordingly, ensuring that a lien isn't put on a title record when there is no security interest in the title (having a clear title) is equally important as well.


HOW TO AVOID LIEN MISTAKES ON AUTO TITLES:

The following are tips to follow, so you don't fall upon a lien mistake regarding your auto title:


1. Ensure that the dealership and DMV have the correct lienholder and their address for your transaction (IF YOUR VEHICLE IS BEING FINANCED).

2. If you paid for your vehicle in full, make sure that you receive a clear auto title" without a lien.

3. Confirm with the lienholder within 30 days of buying a vehicle that they have received the title or documentation showing that their interest in the vehicle has been recorded.

Note: If your lienholder doesn't receive the title within the designated time; they will take legal action against you (the buyer), or the dealer; whoever caused the delay or denial of a title being rendered to them.


Wisdom & Authority Title Solutions LLC, specializes in vehicle title mistakes and complicated title matters.  If you are in a lien mistake situation; call or click in your request today.













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


INCORRECT INFORMATION ON AUTO TITLES (SEGMENT 3)





Common Auto Title Mistake Issues Series
Incorrect Information on Auto Titles (Segment 3)



While a title and registration seals the deal of a purchase and ownership for your vehicle; it's the information or data on the title and registration that must be highly regarded.

In this third segment of the Common Auto Title Mistake Issues Series, focus will be on incorrect information on vehicle titles/registrations.  Areas that will be covered are: types of incorrect vehicle information that can be present on a title/registration, consequences of having incorrect information on a vehicle title/registration and tips for help in avoiding having incorrect vehicle information on your title/registration.

TYPES OF INFORMATION THAT CAN BE INCORRECT ON A VEHICLE TITLE/REGISTRATION:

The most common areas on a title/registration that may contain incorrect information pertaining to the vehicle are:

A. The VIN
B. Description of the Vehicle
C. Vehicle's Weight
D. Number of Axles
E. Vehicle Branding

To elaborate further, more insight is taken for the above factors:

VIN:The VIN of a vehicle that is incorrect will usually be short of  a digit or multiple digits and or have may have a combination of the wrong numbers and or letters present in the VIN.
Note: Keep in mind that any vehicle's manufactured from 1981 to now; must contain 17 digits, versus the typical 7 or 11 digits that were present before that time.


Description of the Vehicle: Areas of the vehicle's description that can have incorrect information are: the Year, Make, Model, Body and Color.  In essence the wrong year, wrong make, wrong body type and  or color could be present on the title or registration.


Vehicle's Weight: The vehicle's weight is oftentimes the most overlooked area on a title or registration, because it's something that most vehicle owners don't really pay attention to; unless you are in the commercial motor vehicle industry (WHERE IT MATTERS).  When regarding the vehicle's weight, it's important to notice the empty weight (base weight of a vehicle including the equipment and parts on and within it-set by the manufacturer, but excluding the passengers and cargo) and the gross weight (maximum of weight set for the vehicle by manufacturers that includes passengers and cargo).

Number of Axles: The number of axles on a motor vehicle is another area that is easily targeted for mistakes, because some people don't give attention to what an axle is and the appropriate number that is applicable for the vehicle type.  For instance; some trailers have 1 axles, while commercial trailers have 3 or more and standard passenger vehicles (excluding limos and buses) have two axles.


Vehicle Branding: Regarding vehicle branding, the first thing to note is whether you should have a brand on your title/registration from the start.  If so, it's important that the correct brand is stated; repaired, rebuilt, irreparable, etc.



CONSEQUENCES FOR HAVING INCORRECT VEHICLE INFORMATION ON YOUR TITLE/REGISTRATION:

Having incorrect information on a vehicle title or registration, such as the above factors can cause the following consequences:

A. Ownership of the Vehicle can Be Questionable, if a major issue such as the VIN and description of the vehicle is incorrect on the title and registration card.

B. Vehicle Registration and License Plate costs can be affected significantly if the axle and or the weight of the motor vehicle item is incorrect.  In the area of commercial vehicles, citations, and FMCSA/DOT compliance issues can arise, if the axle and or weight amount is incorrect! Note: registration and license plate fees are usually based on the number of axles and the weight of the vehicle. 

C. Personal Property Tax Charges (if applicable), can be accessed incorrectly if incorrect vehicle information is present on the title/registration record.




TIPS FOR AVOIDING INCORRECT VEHICLE INFORMATION ON A TITLE/REGISTRATION:

The following will keep you away from the aggravation of having incorrect information on your title/registration:

1. When receiving the title from the seller; ensure that the vehicle's information on the title matches the physical overview of the vehicle; i.e. VIN, year, make, color, axles, etc.

2. Ensure that the information on your title and or registration is correct before leaving the DMV!  Note: Failing to review your title and registration right away, opens the door for delays, and costly consequences later.


Wisdom & Authority Title Solutions LLC is your vehicle title source and expert.  If you have incorrect vehicle information on your title and registration; help is available to you. 








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

ODOMETER MISTAKES (SEGMENT 2)





COMMON AUTO TITLE MISTAKE ISSUES SERIES:
Odometer Mistakes (Segment 2)




In the next segment in the, Common Auto Title Mistake Issue Series;  Areas describing what an odometer discrepancy is, causes of odometer discprepancies and consequences of odometer discrepancies will be covered.


What is an Odometer Discrepancy?

An odometer discrepancy is when wrong and or inconsistent odometer data occurs.  An example of an odometer discrepancy is when a "rollback" in the mileage occurs.  In essence the odometer record may have once been recorded as having 85,000 miles, but now shows 70,000 miles on record.  Odometer discrepancies are shown in one of two ways:

A. Physical-tampering of the actual odometer has occurred.
B. The discrepancy is reflected on the title record of the vehicle.



Causes of Odometer Discrepancies:

The causes of odometer discrepancies, usually plays out in two ways; either by a "rollback" or by submission of the odometer data.

First, in the area of a "roll-back", tampering of the odometer takes place. The individual committing this act does so with the intent of deceiving the unsuspecting buyer by "portraying" that the car's mileage is actually lower than  it really is; thus giving the buyer the impression that they are really getting a "great deal" on the vehicle.

Next, in submitting odometer data; the discrepancy usually takes place on the title, supporting documentation for the title or a typo error when entering the odometer data in the system incorrectly.  Some examples of disclosure errors are:
  • Writing the wrong mileage in the odometer section disclosure
  • Checking the "not actual" box in the odometer disclosure section on the title/application (if the miles are in fact actual).
  • Checking the "exceeds mechanical limits" box in the odometer disclosure section on the title/application.
Note: Exceeds mechanical limits applies only to a vehicle whose odometer reading has reached the 999,999 mark cutoff and resets itself at zero; thus allowing the mileage reading to start over. Only select this option if and only if this situation applies to you!


Consequences of Odometer Discrepancies:


Having an odometer discrepancy on your title or even creating this type of problem is serious business.  The following are major consequences that arise when odometer discrepancies are present:

A. The vehicle affected by the discrepancy loses it book and trade value significantly.
B. Falsifying odometer disclosures/data is a federal offense and is punishable by imprisonment and or heavy fines.
C. DMV rejection and or title delays regarding the discrepancy can and most oftentimes do occur.
D. When an odometer discrepancy or inconsistent odometer reading occurs, it remains on the vehicle's record. 


Whether intentional or unintentional; odometer discrepancies are common in many vehicle title transactions.  If you are the victim of odometer fraud, or faced DMV rejection due to an odometer discrepancy; Wisdom & Authority Title Solutions LLC is available to help you! 


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