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Thread: Buying a car without papers?

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Posts: 11-20 of 23
2014-03-27 14:40:50
#11
Originally Posted by DaveM
I don't think the car is stolen...


True. Who would steal a '97 GXE anyway?
2014-03-27 14:42:05
#12
Originally Posted by Socius
I did this once and it took me five years to get the pink slip.
Wish I new the a mechanic shop way back then.


Yeah, stolen or not it could be a major pain in the arse to get it into your name. It's a parts car, period.
2014-03-27 16:10:10
#13
1st thing I would do is get the VIN and run a carfax and check with the local DMV or Police station to make sure it doesn't come as reported stolen.

As long as it isn't, you can do what's called a bonded title. The process is pretty much the same in any state but the time to get the title can vary. Here in Illinois someone I knew went through the process of getting a bonded title and it took 10 months before he finally had the title in his hand. Meanwhile, someone in North Carolina was able to get a bonded title taken care of within 3 days and literally had a title in his hands 2 weeks later.

A bonded title is something you get through your insurance agent so call them and ask about the process. Typically this involves buying a bond 3x the cost of the NADA value of the car and if within 3 years, someone places a claim, they get the bond money... but if no one places a claim, you get the 'bond' money back. IIRC, a bond is $50 per $1000 (or maybe it was $50 per $2000)... I forget but your auto insurance agent should have the details.
2014-03-27 16:18:38
#14
Originally Posted by Chris101
1st thing I would do is get the VIN and run a carfax and check with the local DMV or Police station to make sure it doesn't come as reported stolen.

As long as it isn't, you can do what's called a bonded title. The process is pretty much the same in any state but the time to get the title can vary. Here in Illinois someone I knew went through the process of getting a bonded title and it took 10 months before he finally had the title in his hand. Meanwhile, someone in North Carolina was able to get a bonded title taken care of within 3 days and literally had a title in his hands 2 weeks later.

A bonded title is something you get through your insurance agent so call them and ask about the process. Typically this involves buying a bond 3x the cost of the NADA value of the car and if within 3 years, someone places a claim, they get the bond money... but if no one places a claim, you get the 'bond' money back. IIRC, a bond is $50 per $1000 (or maybe it was $50 per $2000)... I forget but your auto insurance agent should have the details.


Thats great info, Thanks Dave.
2014-03-27 16:22:49
#15
You are welcome and good luck!

Something to keep in mind is that MANY race cars are sold on bill of sale only (no title involved).

Keep in mind the reason for 'no title available' on older cars without high value is often just because someone somewhere along the line lost or misplaced their original title and didn't want to go through the time, hassle and expense of buying a replacement.. Other times it can be because a shop didn't want to deal with the mechanic's lean process and expense.. OR yet other reasons I've encountered is a person who signed over a title and dated it and the 'new owner' just flipped it never processing the title and the next thing you know, you have a title from 5 people ago with an old date and in some states (Illinois included) it gets really messy trying to process something like that.
Last edited by Chris101 on 2014-03-27 at 16-26-55.
2014-03-28 02:15:36
#16
uhm... its a lien not a lean. Sorry I couldn't help it.
2014-03-28 02:26:21
#17
Originally Posted by Benito
uhm... its a lien not a lean. Sorry I couldn't help it.


Beat me to it


Mike
2014-03-28 03:04:09
#18
yeah, yeah.. that's what I get for posting too quickly I guess... oh well... so much for trying to help
2014-03-28 04:09:04
#19
Originally Posted by Chris101
yeah, yeah.. that's what I get for posting too quickly I guess... oh well... so much for trying to help


No it is a good post. Just didn't see it spelled correctly in the entire thread.

and I spent most of my day looking at title documents and lease agreements so full of easements, encumbrances and liens and other super fun stuff.
Last edited by Benito Malito on 2014-03-28 at 04-11-56.
2014-03-29 14:10:18
#20
Buying a car without papers?
In Cali it's called a defective title bond. Go to DMV, get the EXACT value then call SuretyBonds.com and we will have the bond for you in the same day. If you know your name address and value of the car it's a 5 minute process


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