What's A Vehicle Title?

April 12, 2022 | Emma Frost

 whats a vehicle title

A vehicle title is one of the several documents you sign when you purchase a car. Regardless of where you buy the automobile, you'll need to sign one. It's a legal document indicating that you own the vehicle.

But it's not quite that simple. Consult the following sections to fully answer your "what’s a vehicle title" question.

What Exactly Is a Vehicle Title?

Your vehicle title is, inarguably, one of the most important documents in automobile ownership. It legalizes the fact that you are the owner of the car, truck, or van. Whether you buy a new or used vehicle, you'll sign a title to confirm you own it.

Typically, your vehicle title is issued in the state you purchased the car. Therefore, it's very important to head to your local Department of Motor Vehicles if you need to register it in a different state. Nonetheless, all titles display the same information:

  • The vehicle's identifying information, including its VIN, make, year, and model
  • If you purchase a car with an outstanding lien (i.e., debt), the lien holder's information appears on the title to ensure the debt is repaid
  • Technical information like the vehicle's gross weight
  • The license plate number
  • Your (i.e., the vehicle's owner's) name and address

In short, if anything significant happens to the car, it will appear on its title. Hence, it's an important document to keep an eye on when buying a used car. Looking at the vehicle's title can tell you whether it's legal in the purchasing state.

However, you should also be mindful of title washing. It's the illegal act of getting an illegitimate title for a vehicle that hides pertinent information about the car's past. Title washing is incredibly dangerous, so be on the lookout when purchasing used vehicles.

The Types of Car Titles

Direct Auto states there are four different brands of titles as follows:

  • Clean — Your car is in structurally sound shape.
  • Clear — You don't have any outstanding debts against your vehicle.
  • Salvage — If your car is wrecked, it will have a salvage title. Since it indicates severe damage, you will struggle to gain vehicle insurance.
  • Reconstructed or Rebuilt — If your car was wrecked but has been salvaged enough to drive it safely, your salvage title will be promoted to rebuilt status.

If you have a clear title, you can use it to borrow money when you're in a pinch. So, what’s a vehicle title? You should be an expert now!

What’s a Vehicle Title Loan?

The more it's worth, the more you can borrow. Although, be aware that we can only lend you amounts from $300 to $2,500.

Provided your vehicle title is clear (otherwise known as lien-free), you have a driver's license (or another form of valid photographic identification), and your vehicle is in good condition, you can get a title loan.

We don't ask you to deal with a long list of requirements. Plus, there's no need to have a fantastic credit history. Not to mention that you're able to keep your vehicle while repaying the loan.

 vehicle title loan online

How to Use Your Title to Get a Vehicle Title Loan Online

As you may have imagined by now, using your vehicle title to get a loan isn't challenging, especially since you don't need to have a perfect or even good credit score. Just follow the five simple steps below to get a vehicle title loan online from us at Mississippi Title Loans, Inc.:

  • Fill out the online form found on this website. It sends your information to your nearest Mississippi Title Loans, Inc. store.
  • One of our loan representatives gives you a call to discuss the process, answer your questions, and ensure you have the required items. At this stage, you also set a meeting place because you don't need to come to our store if you don't want to.
  • Wherever you decide to meet, head there with your lien-free title to your vehicle (you won't have to search, "what’s a vehicle title" beforehand this time!), driver's license (or another kind of state-issued photographic ID), and the vehicle itself.
  • Sit down with our loan associate, who will examine your paperwork and inspect your vehicle to establish how much you can borrow with a vehicle title loan online.
  • If you gain approval, you receive the amount you qualify for on the very same or following bank business day.

Get a Vehicle Title Loan Online Today!

Thanks to our easy-to-read guide, you'll never need to search "what’s a vehicle title" again! If you need a bit of emergency cash to cover high medical bills, avoid late fees, make necessary home repairs, or fund urgent travel, kickstart the process by completing our online inquiry form. One of our team members will give you a call as soon as they receive your request.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.