The various titles and other documents evidencing a car’s history are often key to discovering exactly how a car’s history differs from that represented by the dealer. The detailed title history is often more revealing than the summary title history described in the prior section. Not only is there no substitute for obtaining copies of the actual records to determine if there have been alterations, forgeries, information left blank, and other problems, but the actual records will show the names and addresses of prior owners. These records are also likely to be admissible in court, while a summary title report will not be. Summary reports also will only reliably indicate transfers to a purchaser for use, and may not indicate transfers from one dealer to another, from an insurance company to a body shop, or from a body shop to…Read More
So, you bought a car that was in a serious prior accident that was not disclosed to you? This scenario is increasingly common. Often a vehicle’s prior history as a wrecked car is hidden from potential buyers. Even if a car seems to run well and looks aesthetically nice, the car’s history of serious damage means that its true market value is dramatically decreased. A “Total Loss” Vehicle The number of vehicles deemed a “total loss” by insurance companies has been rapidly increasing. Believe it or not, the average age of a car on the road in the United States is almost twelve years old. A “total loss” vehicle is simply a car that would cost more to repair properly than it is worth. How then can rebuilders be part of a thriving industry that buys these salvage vehicles, rebuilds…Read More
