Oct 03, 2013
8 Tips For Handling Your Title Transactions
We understand the amount of work that goes into buying and selling a car. That's why we try to make life a little easier for you here at Carolina Auto Auction. So to prevent your next headache, take a look at these quick tips for dotting your I's and crossing your T's with the title process. We even have a couple of extra special tips for handling North Carolina titles.
1. Title Attached?
Dealers are often confused about what "Title Attached" means. It does not mean what it sounds like - it actually means that the title is NOT present at the time of the sale. The seller then has 21 days to provide a good title before the buyer is able to return the vehicle for a "title attached" status.
2. No Link In the Chain
Even though we are happy to assist our dealers with the title process, Carolina Auto Auction does not go in the title chain process. The transaction is between buyer and seller only.
3. Are You There?
Make sure you check the last assignment on the title to ensure that the vehicle has been signed over to your dealership.
4. Forms, Forms, Forms
For any Repo or Power of Attorney forms it's important to make sure that if the lien is released that it's been signed off on the front of the title.
5. Avoid Fees
Remember to turn titles in at the block to avoid any title attached fees.
6. Look For Signatures
Make sure titles have buyer and seller signatures on prior assignments.
Bonus Tips for North Carolina Titles:
1. Don't forget to bring your signed MVR-2s.
The MVR-2 form is unique to North Carolina. And it MUST be signed. Furthermore, we can't sign it for you here at CAA. Without the signature you can expect your check to be delayed, and you just might need that money later to buy your next vehicle.
2. "Check" the Back.
On the back of the North Carolina title, the damage disclosure boxes must be checked. It only takes a second, but you'd be surprised how many times dealers forget.
When in doubt please call the CAA Title Department. We're always happy to answer your questions!