When you buy a used car, you automatically assume that the information printed on the title is accurate and true. But that may not always be the case. The majority of car titles contain accurate information, but some may have been washed, so to speak. There could be information left off that would influence whether or not you would consider buying that used car. So what kind of facts can be washed off a car title? Keep reading and we’ll tell you.

According to this article, even researching a car title may not dig up any dirt on the title.
The most common damages that get erased from a car title include being in a flood and being in a wreck and classified as totaled by an insurance company.

So how does this happen? Some dealers and mechanics can purchase salvaged cars and trucks for a fraction of the cost of a non-damaged used vehicle. According to the article, after refurbishing they can then transfer the identification serial number tags of a non-damaged vehicle to the repaired one, register it to a new owner or in a different state and it will no longer have the damage history on the title.

Another way is to transfer the title to an owner in another state, repeat the transfer process a couple of times and you get a washed or clean title.

To be fair, there are damaged cars that have been rebuilt safely and make a good purchase. But the point is that a buyer should be able to know the vehicle’s true history and make the decision whether or not to purchase that vehicle based on that accurate information.

Until a uniform national law is passed requiring insurance companies to register cars they classify as damaged, buyers will have to just do as much research as possible on the title and a close visual inspection as well. Check for an unusual amount of rust under the vehicle or a musty smell, which may indicate flood damage. Look for welded parts on the frame, shiny parts that don’t match the wear of the other original parts or paint that doesn’t match. Those could be indicators of a previous wreck.

Sometimes not only are used cars not only thoroughly washed inside and out, but their titles are too. Follow the tips listed above and be aware that while most dealers show clean car titles, there will always be some who don’t.

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Did you know that a used car costs about half as much as a new car? What about the fact that only one new car is sold for every three used cars? But aside from the price difference, what about loan rates for used cars? According to this data from BankRate, 36 month loan rates for used cars are pretty good right now.

If you live in Chicago, Illinois, you can expect to find 36 month used car loan rates that run anywhere from 1.99% to 8.75%. These Chicago rates are as published on December 19th, 2011.

Pentagon Federal Credit Union is offering 1.99% with good credit but membership is required.

Auto Club Finance is offering rates of 3.19%. There is a $10,000 minimum loan required and good credit is needed along with the used car being a 2005 model or newer.

Nationwide Bank is offering rates of 4.65% and no application fees

Bank of America has a 2.84% rate with no application fee. A $200 document preparation fee may apply though.

Chase Bank has a current rate of 3.53% with a 25% discount with auto debit. A $75 application fee is required.

Northern Trust is offering a rate of 8.75%. You can get a 50% discount with an auto debit and no fee is required.

myAutoloan.com has a 4.45% rate right now but you have to take out a $7500 minimum loan but no fees are required for application.

Some of the current 36 month used car loans offered in the metro New York, NY area are as listed below.

Nationwide Bank has a 4.65%. You can get a 1% rate discount with auto debit. No application fees are required.

myAutoloan.com is offering a 4.45% rate for 36 month used car loans. A $7500 minimum loan is required but no application fees.

Chase Bank has a 3.58% rate right now. You can get a 25% discount with auto debit. There is also a $75 application fee required.

Bank of America is offering a 36 month used car loan rate of 2.84% No application fee is required but there may be a $200 document preparation fee.

Auto Club Finance has a rate of 3.19%. You have to take out a $10,000 minimum loan and must have good credit needed is required and the used car has to be a 2005 or newer model.

You can find a good 36 month used car rate, so just shop around and see what’s available in your area.

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Top Ten Cars That Retain Resale Value

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What Is A Certified Pre-Owned Vehicle?

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Tips To Keep From Spinning Your Wheels When Buying A Used Car

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Buying a used car can be as much or more fun as buying a new one, especially when you get a good deal on the car you want. Saving several thousand dollars and getting a used car or truck that is mechanically sound and even looks great is something anyone can do as long as [...]

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Consumer Reports Most Reliable Used Car List

June 2, 2011

According to Consumer Reports, the average new car loses nearly half of its value during the first three years. To get the comfort features you want and the safety ones you need, buying a used car is affordable and smart.  The Consumer Reports’ list of most reliable used cars is a list of models from [...]

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Cheap used cars for sale by owner—the new millennium dealership

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According to the latest data published by the Bureau of Transportation Statistics, over 35,000 used cars were sold in 2009; this figure is inclusive of franchised dealers, independent dealers, and casual sales. That’s a lot of used cars. With gas prices constantly rising, these days a cheap used car is a great used car. Exit [...]

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Understanding Your Used-Car Warranty

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So, you’re looking for a used car, you’ve found a few good, solid deals, and now you’re considering your options in terms of a used-car warranty. However, as you may already learned, there are a number of different types of used-car warranties available. You won’t find the same warranty for every used car, and you [...]

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Best Under 5000 – How To Buy a Great Used Car!

May 22, 2011

In these hard economic times, or even when the economy is rosy, there are people who need a reasonably price car.  The first question many buyers thus ask is, “What’s the best under 5000 car can I buy?” Well, good news.  Even though many car owners are holding onto their cars longer, there are still [...]

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The Benefits of Using A Used Car Price Guide

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At some point in your life, whether as the buyer, trader, or seller, most people find themselves in the used car market.  It is a hard market to navigate safely, but using the following guide tips and incorporating used car price guides in your research will make your planning process smoother. Step one – determine [...]

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