Reasons To Appoint a Car Title Company in New Orleans and River Ridge, LA

Posted by botsaynotary on August 9th, 2022

Buying a vehicle is as essential as investing in real estate. Both are assets of varied value but are necessary for leading a comfortable life. A first-time auto investor may consider the process easy with the vehicle changing hands and car keys kept secure. There are several more steps to pronounce oneself as a bona fide owner of the vehicle. Visiting the local DMV to transfer the car title in Metairie and New Orleans, LA, is a step that cannot be ignored at any cost.

It is essential to check with an existing vehicle owner or an auto dealer to understand the importance of having a clear car title. An individual who deduces to buying the vehicle outright without any financing should be able to obtain a certificate of the title from the seller without having to ask for it. One should be informed about the significance of the title. The certificate includes all essential information about the concerned car, such as its make, model, and VIN.

The auto owner should retain the certificate carefully as it will be necessary to register the vehicle and sell it in the future.

However, knowing only some facts while being ignorant of other aspects is a strict no-no! Some of the things that one needs to remember about the car title and concerned certificate include the following:

•  It is impossible to prove ownership of a vehicle without a certificate.
•  It is issued by the “Department Of Motor Vehicles (DMV)” of the concerned state or the transport department.
•  Car owners who opted for financing to buy the vehicle will have to provide the title to the lender, who would hold it until the loan amount is repaid.

Almost all vehicular titles include the following information with only a few minor details differing from state to state:

•  Name of the car owner
•  Vehicle Identification Number (VIN)
•  Odometer reading during the sale
•  Class of weight
•  Details of lien holder when the automobile was bought with financing
•  Facts related to both buyer and seller, including their names, addresses, and selling date.
•  Signatures of all concerned parties
•  Procedure for obtaining the Title

It is vital to apply for a transfer of the vehicle title once the money is given to the seller and the bill of sale acknowledges it. One should visit the State DMV office at the earliest to complete the formalities.

Apart from submitting the proof of identity along with the application, Auto insurance document, and application for a tag, the auto owner must also submit the required fees. It is interesting to know that the title fee varies from state to state.

Storage of Title

Guarding the title document, especially the certificate, is necessary. While many states continue to use paper titles, it is required to have them in safe keeping so that there is no possibility of damage or theft. Electronic titles are in vogue today, which may be a better alternative.

A new car owner can get in touch with a title company in New Orleans and River Ridge, LA, to attend to the formalities when hard pressed for time.