When you buy a car at your Mazda dealer, you are issued a car title, commonly called a pink slip, by the Department of Motor Vehicles in the state where the car was purchased. Until the vehicle is fully paid for, you cannot be issued a certificate of ownership of the vehicle. Your certificate of ownership carries essential information about you and your car, and such information must be kept updated and accurate at all times.
What Is Your Car Title?
Your vehicle title proves that you own the vehicle you drive, and the title must be replaced immediately if you lose it. Fortunately, you can avoid the hassle of keeping paper-based title certificates if your state offers electronic titles. The certificate holds the following information:
- Your name
- Make of vehicle
- Model of Vehicle
- The weight class of vehicle
- Vehicle identification number (VIN)
- Odometer reading
- Date of sale
- Lender’s information
- Names and addresses of the seller and buyer
Types of Titles
When you see a car with a clean and clear title, it means the vehicle has no record of any significant damage and repair or recall by the manufacturer. In addition, a clear title indicates the car possesses no financial burden, preventing the vehicle from being sold.
A vehicle with a branded title has a history of serious problems, including inaccurate odometer readings or severe damage from accidents, which has rendered the vehicle a total loss. It is also important to avoid buying cars across state lines because they sometimes hold titles that have been washed of important information.
Why Is Your Title Important?
1. Proof of Ownership
The vehicle title is evidence that you are the vehicle owner, so keep it safe at all times. If you need to replace the title, go to your local DMV office, fill out the forms, and pay the required fee. Fees vary by state.
2. Transfer of Ownership
You need the vehicle title when you buy or sell a vehicle. The seller signs the title and releases ownership to the buyer, who then goes to the local DMV office with the required documentation to be issued a new title of ownership. If you buy a new car from your Mazda dealer, all the paperwork is done by the dealer, and you receive your title in the mail.
3. Registration of Vehicle
Registration is required by the state before a license plate and sticker can be issued. The original title is required to complete this process.
4. Vehicle Insurance
In normal circumstances, you must show at least part ownership of the vehicle to be insured, depending on the insurance provider’s requirements.
It is crucial to have your vehicle title as major activities like buying, selling, registering, and insuring a vehicle require a title. Stop by Flood Mazda today and drive off with your new car while we take the paperwork burden off your hands.
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