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Explain Title Insurance

Rhonda Said:

need car insurance but dont have title?

We Answered:

You will need to get the owner of the car to include you on his/her policy. You cannot obtain insurance on a vehicle you do not own.

Dolores Said:

Expired car insurance, change title question.?

We Answered:

Grandpa doesn't want the title in his name anymore. Your boyfriend needs to put the title in his name, and get his own insurance. No, changing ownership would not mean changing the tags.

Or, if he thinks he is being screwed over, he can give grandpa back his car, since it seems to be in grandpa's name anyway, and go buy his own.

Amy Said:

Can anyone explain how a salvage title affect anything?

We Answered:

The biggest thing about a salvage title is resale value. Technically, it has NONE. They have no trade-in value at a dealership. The vast majority of private buyers will pass on a salvage title because of the risks. In most cases salvage means heavily damaged and people are afraid that the damage could effect the safe use of the bike. I don't know anyone that would pay more than HALF of bluebook value for a salvage titled bike. The risks are too great. I would never trust a seller that tells me that the bike was a theft recovery. I could get a salvage bike (wrecked)..... make it look okay... then tell you that it was a theft recovery. All in all...... VERY RISKY.

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