3 Situations When You'll Need Your Car's Title

When you received the title for your car, you might have tucked it away in a safe, drawer or cabinet. After all, you might not have really thought about needing it anytime soon. However, there are a few different situations in which a car owner might need his or her vehicle title. These are some of the situations in which this might be the case.

1. Taking Out a Title Loan

Have you ever heard of a title loan? Basically, this type of loan uses your car as collateral so that you can borrow money, often without a strict credit check. If you do decide to take out one of these loans, you will generally have to hand over the title to your car. The title lender will then hold the title or put a lien on it; this is done to help guarantee that you will pay your loan back, which makes it possible for these lenders to loan money to individuals who might not have otherwise qualified.

2. Selling Your Car

Another situation in which you will definitely need the title for your car is if you decide to sell it. After all, the new owner will want the title as proof that he or she owns the car. He or she might also need the title in order to register the car, get a license plate, and more. If you are going to be trading your car in at the dealership, you will also need to have possession of the title before you will be able to do so.

3. Junking Your Car

If your car is older and if it needs a lot of mechanical or body work, then you could be thinking about selling it to a junk car buyer or a scrapyard. This can be a good way for you to get cash for your old car, but you will probably need your title. Then, you can prove that the car is yours and that you have the right to sell the car for scrap.

As you can see, there are a few different situations in which you might need to have possession of your car's title. Therefore, if you don't have your car's title, then you may want to contact your local registration and title office. Then, you should be able to get advice about what steps you will need to take so that you can get another copy of your vehicle title. Contact companies like R L Jones Insurance Services Inc for more information.

About Me

Getting Better Insurance

After years of struggling with my finances, I started looking at my budget with the help of a professional. He noticed that I was spending a lot on insurance premiums, so he suggested a few things I could do to lower my costs. I couldn't believe how quickly and easily he found a great new company to work with, but before I knew it, my policy rates were lower and my coverage was a lot better. I wanted to start working with other people to teach them more about insurance, so I made this simple little blog. Check out these articles to find out what you need to know.

Search

Categories

Latest Posts

4 March 2024
When it comes to owning a vehicle, whether it's brand new or a few years old, having auto insurance is a must. However, some individuals may question

4 January 2024
Navigating the complex world of auto insurance can be a daunting task. With so many options and policies to choose from, it's easy to feel overwhelmed

27 November 2023
If you own and operate a car, you are probably aware of the importance of car insurance. Car insurance is not just a financial back-up, it also protec