Car titles are important to every car owner in Florida. In the same you can't think about leaving home with your shoes on, you need to prioritize having a car title if you intend to drive. And if you're in Florida, you should already know this.
Car titles help prevent a ton of legal-related drama. It also proves in times of necessity that you own the car. The kind of car title applicable to you depends on the nature of your car. Don't know what car title you're to get? We have gathered below an everything-worth-knowing guide to help you figure this out:
Bonded title
You know what we said about legal-related drama - a bonded title can help! Bonded titles are usually for cases where there is a dispute about the ownership of a car. And most times, always the last resort. A bonded car title is a title gotten with a security bond. It is usually of similar value to the car's worth. Like an actual bond, this provides an assurance that any future claims to the car can be covered with your collateral.
Lienholder title
This title is reserved only for a lender who lawfully has an interest in your car until it is paid off completely. In this case, the lender has a legal claim on your car because he or she lent you the money to purchase it. A lien holder title is only considered invalid once the car debt is entirely paid. If you have documents indicating a right of possession, you are classified as a registered owner. But if you as a registered owner do not pay off the debt as consented to, the lienholder has the right to invoke repossession of your car.
Junk title
A junk title is a title given to cars in scrap yards. Cars here are being sold to scrap yards. Like most items in the scrap yard, the car is shredded or torn apart into pieces. Usually, junk titles are issued when the car has no visual or internal value. Simply put – junk titles are given to cars that have been damaged and assessed to be of poor value.
Reconstructed title
Cars that have been rebuilt come with a reconstructed title which helps the registration process. These cars undergo certain inspections by Florida's motor vehicle authorities to ensure that they are verified to be driven on Florida's roads. Naturally, the reconstructed title is issued by rebuilders who are approved to practice. In rare cases, a reconstructed title is issued to cars rebuilt from scrap yards.
Certificate of Origin
This is the first title your car ever gets. It reflects details surrounding your car's production. It is usually given by the manufacturing company and passed down from the manufacturer to the franchised dealer to the first owner (as the possession of the car changes).
Whatever the case might be, ensure that you're equipped with relevant car titles for rainy days! Auto Tags can provide professional consultation to help you get your car title in Florida.
When all your documents and transfer information are completed, you can apply for a title transfer with the Florida Highway Safety Motors and Vehicles (FLHSMV) to have the car information registered and updated. At Auto Tags of Oakland Park, we help you secure title transfers, register your out-of-state vehicles, and provide other consultation and Oakland Park DMV alternative services in South Florida. Don’t waste your time at any other Oakland Park tag agencies when you can stop by Oakland Park Auto Tags. We specialize in all things Oakland Park tag and title, including Oakland Park tag renewals, and more. Check out our website here or find our online renewals page here to get started.
Check out these great resources if you are interested in learning more about title transfers: Resource 1 | Resource 2 | Resource 3
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