The National Motor Vehicle Title Information Service (NMVTIS) is a program created by the U.S. Justice Department to reduce or eliminate fraudulent selling of used or stolen vehicles.
These reports contain the following information:
- Last recorded odometer reading
- If the title has been changed to a totaled or salvage title
- If the vehicle has ever been designated as stolen
- If the vehicle has been classified as having been in a floor or a fire
Why Is This Information So Important?
There are no laws that state you cannot obtain a vehicle from a junkyard and restore it to make it roadworthy again. However, there are laws in place that state you must have a salvage title assigned to these vehicles so that any future person who purchases this vehicle knows it was previously totaled.
Having a salvage title assigned to the vehicle is also important for insurance purposes. Some insurance companies will not insure a car that has a salvage title. Other insurance companies require a special type of insurance for this type of vehicle or charge a significantly higher rate. This is because the vehicle was formally considered a total loss, and the risk of anything happening in this vehicle has now been increased.
When you purchase a used vehicle, you will want to know what title the car holds and if the information on the title is correct, such as the odometer reading. All of this information can have an impact on the value of the vehicle.
VINSmart Reports Enhance The Information Offered By NMVTIS
Consumers looking for a used vehicle want to make an informed decision when making this purchase. Everyone understands that there is always a risk associated with purchasing a used vehicle, especially if it is not a certified used vehicle. So the best way to reduce this risk is always to have a mechanic look over the vehicle and to have VINSmart produce a history report on the vehicle.
The VINSmart vehicle history report provides consumers with much more information than the NMVTIS report. In addition to all of the information you will learn about the vehicle through the NMVTIS report, the VINSmart report will provide:
- Title history since the vehicle was first sold as new
- Repair and maintenance history
- Recall information and repair data
- VIN interpretation for that vehicle
- Current lien holder on the car
- Any 3rd party liens against the vehicle
The VINSmart report is particular to your vehicle. Most states have reporting requirements for vehicles that are more intensive than those required by the NMVTIS system. VINSmart accesses these records to build a complete history on that vehicle, so you know as much as possible about it before you decide to make the purchase.
When you know the history of a vehicle, you will have a better understanding of the car’s condition. This will help you avoid many headaches in the future concerning the vehicle.
An Informed Buyer Always Comes Out Ahead
When you purchase a used vehicle and go to the title office to change ownership, the last thing that you want to hear is that you have to pay a debt that is being held against the title of the vehicle. However, if there is a third party lien against the car when you purchase it, you are assuming this debt, and you will be held accountable for paying it off.
This is one reason you should always have a vehicle history done on a car when you are purchasing it from a private seller or from a car lot that does not sell certified pre-owned vehicles. One person overlooking this information, or if the car was purchased at auction and the seller did not know, and you find yourself with a debt that you are now responsible for paying.
Knowing the history of the title can also prevent you from purchasing a salvage car. Even if these vehicles have been restored to their original appearance, insurance companies may not provide you insurance coverage, or you may have to pay very high premiums to insure the vehicle.
A salvage vehicle may also not be as reliable or have the same physical integrity as other vehicles. This means that they may be more prone to breaking down or will suffer more damage in an accident.
A vehicle that has had its odometer tampered with or reset can also mean that you are buying a vehicle that has a significant amount of wear and tear on it without you knowing. This could result in having to make major repairs on the vehicle soon after making the purchase.
The best way to avoid these headaches is to make sure that you have your favorite mechanic look over the vehicle while obtaining a VINSmart history report. This way, you can make an informed decision on your purchase.
