How To Avoid Car Title Mistakes
Your car title is the proverbial key to your car and the only legal proof that you own it. As such, you need to take care of it and avoid common mistakes that can potentially void your ownership of a car. Here are some common car title mistakes to avoid.
If there’s an error on your car title, go to your local Wisconsin DMV to have it replaced rather than correcting it. Similarly, if the title to your car gets damaged in an accident, make sure you have it replaced before selling your vehicle to avoid having the sale voided.
There are many common mistakes to watch out for when considering your car title, some of you might not have thought of! The rest of this article will walk you through some of the most common car title mistakes and how to avoid them.
Correcting Errors On Your Car Title
One of the most common tendencies people have when they see incorrect information on a document is to modify it. While this is ok in some cases, it will immediately void the title to your car since you’ve essentially tampered with a legally binding document.
Whether you’re crossing out wrong information or trying to blot it out, your title will immediately become invalid.
If you notice anything wrong with your car title, then you should take it to the Department of Motor Vehicles (DMV) so they can dispose of the old title and provide you with a new one.
It’s also worth noting that incorrect information on a vehicle title is illegal, so make sure that all pertinent information like the VIN and identifying details about you and the seller are all correct. so that you’re not unwittingly driving illegally!
Using A Damaged Car Title
As odd as it may seem, trying to use a damaged car title when you’re selling the car can void the sale entirely and call your ownership of the vehicle into question. During a sale, this is one of the most common car title mistakes.
Anything from rips, tears, or water damage on the document can immediately void the title. The title must be perfect for the transaction to be legitimate, so if you have a damaged title, visit the DMV to have it replaced before trying to sell your car.
Not Transferring The Title
Transferring the title on your vehicle is extremely important, whether you’re buying or selling a car. Failure to do so is illegal and comes with consequences that aren’t worth the headache. If you realize that your name isn’t listed as the owner of the vehicle you’re driving, head to the nearest Wisconsin DMV right away to correct the error.
Incorrect Buyer Name
If you’re buying a title and notice that it’s been signed by someone other than the seller, the seller then needs to take the title to the DMV to have it replaced before selling it to you. This can often occur because buyers will sign the title of the car before actually making the necessary payment.
As such, if a buyer backs out after signing the title, it needs to be voided and replaced with a new one before it can be legally transferred to your name. Similarly, if you’re selling a car and your buyer backs out, make sure you get the title replaced before trying to sell it to someone else.
Not Taking Advantage Of Car Title Loans
Lastly, people often make car title mistakes not realizing your car title can be used as collateral if you need emergency cash.
Whether it’s a medical emergency or significant home repair that needs to be completed quickly, sometimes you just don’t have the money on hand to pay for it. That’s when Wisconsin Auto Title Loans, Inc., can help.
They offer a Wisconsin car title loan of up to $15,000, and the process can take as little as 30 minutes. After you’ve met with a representative for inspection of your car and have been approved, they’ll go over the terms of the loan with you. Once all the paperwork is done, you can have the money you need later that day or on the following business day.
Get Started A Wisconsin Car Title Loan Today!
There are several car title mistakes made, but one of the biggest is not taking advantage of the benefits a Wisconsin car title loan can offer you. If you have emergency bills to pay and are struggling to handle them, consider a car title loan with Wisconsin Auto Title Loans, Inc., representatives are on standby today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.