The Car Title Problems

When buying a used vehicle, the National Motor Vehicle Title Information System (NMVTIS) can help you avoid purchasing a vehicle listed as salvaged, stolen or other undesirable issues. Obtain a title history, along with the other aforementioned information, through NMVTIS in one of two ways, via mail to your local Department of Motor Vehicles or instantly online. Unfortunately, neither process is free, but the fees assessed are nominal. Vehicle titles There isn't a single subprime auto lender out there that will finance a vehicle with a branded title. We know this is true because we've been helping credit-challenged applicants find a car they need. Clean car titles Most used cars in Indiana have a clean title. Even if it was in an accident, this will be the case just as long as the damage wasn't extensive enough to declare it a total loss. This means that even with a clean title you still have to be careful and request a vehicle history report as well as have the car inspected, since there could be hidden damage. But if a car has been in an accident or another situation with enough damage to declare it a total loss, once repaired i''s issued a "branded title". What's a "branded title car"? Title brands vary by state but usually include the following: Rebuilt – A vehicle previously branded as "salvage" that has been repaired and inspected. These vehicles might be drivable, but a rebuilt title means it was, at one time, a salvage vehicle. You cannot finance a car with a rebuilt title brand with no credit auto loans. Salvage – A vehicle with damage that would typically cost between 75% and 100% of its value to be repaired. In some states, there is no rebuilt brand and salvage vehicles that have been repaired still carry a salvage brand. Bad credit lenders will not finance salvage branded vehicles. Junk – a vehicle that can only be sold for scrap or used for parts Flood Damaged – A vehicle that has been water damaged. In some states a flood damaged vehicle might also carry the salvage or rebuilt brands. Vehicles carrying a flood damaged title cannot be financed with a problem credit auto loan. Fleet – Although typically not a brand, most states require any vehicle used as a taxi, a daily rental or for police use be designated as a fleet vehicle. Subprime auto lenders will not finance fleet vehicles. Mileage unknown – Mileage unknown is not a brand, but most states require that the title be notated if vehicle mileage is unknown due to odometer replacement or other issues. Bad credit lenders will not finance these vehicles. Stolen – Like fleet, a stolen vehicle is usually not a brand, although many states may refuse to title a recovered stolen vehicle. Due to the damage they sustain, many of these vehicles are branded so that they cannot be re-sold. Branded titles can be either the same color or a different color than a clean title. However, both will have a notation either at the top or the bottom setting them apart from a clean title. Title washing During the practice of "title washing," the branded information falls off in the process of re-titling a vehicle in another state resulting in a clean title. In just about every case, checking the National Motor Vehicle Title Information System database, requesting a vehicle history report and having a car inspection performed will reveal the fact that a car has had its title "washed." Failure to do this can be a problem because many state DMVs now run title applications through the national VIN database before issuing the new owner (you) a title, making it difficult to both license and insure this type of vehicle. As we see it Your best chance to avoid buying a previously damaged vehicle is to run a vehicle history report, have it thoroughly inspected by a certified master mechanic and run its VIN number through the national database prior to signing any paperwork. You should also know that at Indianapolisautolending.com can offer you the best chance  approval for bad or no credit auto loans. So if you're ready to move forward in improving your car credit, you can begin now by filling out our online car loans bad credit application.