Concerned about Faxing a copy of the Title?

[mcaz99]

Hello, I have an NSX for sale, and I have been asked to "Fax" a copy of the title from a buyer. I dont feel comfortable doing this, I have heard that persons who are out of state, can register another vehicle using a copy of a title? Is this a legitimate concern? I called the CA DMV and they said they would not give me advice on such a matter? Please help? Any real concerns or am I being too protective?
Michael

 

[DocL]

Make a copy of the title, then black out the title number and write non-negotiable across the front of it. Then you can fax it to the person.

 

[ShiftyBob]

Also, if you have photoshop you can watermark it too. Cross out the VIN (except for the last 4) and you should be ok...

 

[NsXMas]

Why do they want a fax of the title?

If they are serious about buying the NSX the carfax should tell them everything they need regarding its registration.

Tell them you'll give them the title after they buy it.

I've never asked for a title or been asked for a title as a buyer or seller of vehicles. This is a strange request.

 

[NSXFRIEND]

Why do they want a fax of the title?

If they are serious about buying the NSX the carfax should tell them everything they need regarding its registration.

Tell them you'll give them the title after they buy it.

I've never asked for a title or been asked for a title as a buyer or seller of vehicles. This is a strange request.

Some small banks and financial institutions want a copy to provide financing. This is an old method to verify ownership, Leins etc.

 

[NsXMas]

Some small banks and financial institutions want a copy to provide financing. This is an old method to verify ownership.

And they'll get the title prior to them signing over the check.

I sold a car recently, the buyer was financed by a small bank.

We showed up at the bank, and I signed over the title to the buyer/bank, as they handed me the certified check.

To have to fax it prior to consummation of the deal is odd.

 

[NSXFRIEND]

And they'll get the title prior to them signing over the check.

I sold a car recently, the buyer was financed by a small bank.

We showed up at the bank, and I signed over the title to the buyer/bank, as they handed me the certified check.

To have to fax it prior to consummation of the deal is odd.

This instance occurs in the event the bank or buyer is out of state or not within driving distance or to busy etc... It is odd and I think most banks have dropped this all in all.

 

[NsXMas]

This instance occurs in the event the bank or buyer is out of state or not within driving distance or to busy etc... It is odd and I think most banks have dropped this all in all.

Yes, titles can be easily forged, I would imagine. If I were the bank I'd request a certified copy of the title, rather than a fax, if the buyer/bank was truly remote, and this was a huge concern.

 

[Shaun Ray]

In the state of Kansas, a car owner cannot hold a title if the car has a bank lien on the car. I would think a good percent of NSX owners have some bank loan they are still paying out (I know I still have 10 months on my loan).

Therefore, I could not get a copy of my title according to the Kansas DMV website. Requesting a copy of this title would be pretty darn hard for me to address. Maybe Kansas it stupid this way but if other states do this as well I'd think a CarFax would have to be more appropriate.

The question has raised my interest. I think I'll contact my bank to see what they have to say.

 

[NsXMas]

In the state of Kansas, a car owner cannot hold a title if the car has a bank lien on the car. I would think a good percent of NSX owners have some bank loan they are still paying out (I know I still have 10 months on my loan).

Therefore, I could not get a copy of my title according to the Kansas DMV website. Requesting a copy of this title would be pretty darn hard for me to address. Maybe Kansas it stupid this way but if other states do this as well I'd think a CarFax would have to be more appropriate.

The question has raised my interest. I think I'll contact my bank to see what they have to say.

What happens in that case is they send a portion of the check to you, and a portion to the bank (the lien holder). You sign a form asserting you're selling the car to the buyer, and possibly a power of attorney regarding the title.

The bank releases the title to the buyer. That's how it worked before for me.

 

[ody]

I re-read your original post and it did say buyer, not potential buyer...

If its a Canadian buyer, they will be required to fax a copy of the title to the US customs people 72 hours before the car is exported from the states.

They might just be getting their ducks in a row to make for an easy trip home.

Brad

 

[Big_D]

When I was buying my car I asked the previous owner to do this for me and he was apprehensive also and would not. I wanted to verify that it was a legitimate clean title and didnt say SALVAGE on it...before I spent airfare to pick it up.

 

[NsXMas]

When I was buying my car I asked the previous owner to do this for me and he was apprehensive also and would not. I wanted to verify that it was a legitimate clean title and didnt say SALVAGE on it...before I spent airfare to pick it up.

I hoped you did more due diligence than that to make sure it's not salvaged. Titles can be washed. You have to check other sources, like carfax, and also get a thorough PPI, to make sure that the car is not a salvage title car.

 

[Danny]

I sold my previous NSX to a guy sight unseen. I held the title free and clear and he wire transferred me the $$ before he came to get it. I had no issue sending him a copy of the title (I watermarked the word COPY) on the one I scanned and emailed him. After all I could have posted a for sale ad with pictures of a NSX that I didn't even own. I sent him a copy of my driver's license (DL # blacked out) and the title so he could see I was indeed the owner of the car. With long distance purchases do everything to make the buyer feel comfortable (within reason).

Just my .02

Danny

 

[sptrader]

As a recent buyer, I requested a copy of the title to prove that he actually owned the car. It is a common practice with exotics to help avoid being scammed.

 

[Shaun Ray]

Checked with my Bank and sure enough, there is no proof of title as long as I have a loan on the car. I did run a Car Fax on my car and is shows previsous two owners and some other good information.

Oh well, I'll probably have my car paid off before it ever sells. Meanwhile, guess the prospective buyer will have to take the Car Fax and possibly the word from my bank that the title is clean.

An interesting topic and one that a careful buyer should consider. I guess I was too trusting when I flew down to Tallahassee to purchase my NSX from an individual. Mostly, I just got a good vibe off the seller and was very pleased when I made the purchase.

 

[NsXMas]

As a recent buyer, I requested a copy of the title to prove that he actually owned the car. It is a common practice with exotics to help avoid being scammed.

I hope you never hand over money without proof of ownership .

Like I said I would never pay without getting a title in return.

But during the course of selling, I can see how an owner would be apprehensive when someone calls out of the blue and asks for a fax of the title.

If someone sends me a deposit, and arranges to complete the purchase, I have no problems sending copies of documentation.

But if some joe blow calls me up and says "I want to buy your car, fax me the title" I'd be disinclined to do so.

It's all about reasonableness of the request and the status of the deal.

 

[NsXMas]

Checked with my Bank and sure enough, there is no proof of title as long as I have a loan on the car. I did run a Car Fax on my car and is shows previsous two owners and some other good information.

Oh well, I'll probably have my car paid off before it ever sells. Meanwhile, guess the prospective buyer will have to take the Car Fax and possibly the word from my bank that the title is clean.

An interesting topic and one that a careful buyer should consider. I guess I was too trusting when I flew down to Tallahassee to purchase my NSX from an individual. Mostly, I just got a good vibe off the seller and was very pleased when I made the purchase.

I think this is just one of those aspects of the deal to be checked off by both the seller and the buyer in the course of the transaction.

If you're a serious buyer, asking for a copy of the title close to the consummation of the deal is not unreasonable. If you're just a tire kicker and ask for a copy of the title, that would be unreasonable.

 

[otoro]

Hi Everyone,
I was the one asking OP for a title copy. :redface: Initially, this came about as I notice a discrepancy in the CARFAX report (recent title was issue not too long ago), which was sorted out earlier today. Seller has been very cooperative in this purchasing process.

In the works to arrange a PPI and hopefully things will progress well. Its nice to see things from both sides of the equilibrium. By no means was my intention to put the seller in an awkward position, just wanted a physical evidence of the title.

Jerry

 

[Shaun Ray]

What happens in that case is they send a portion of the check to you, and a portion to the bank (the lien holder). You sign a form asserting you're selling the car to the buyer, and possibly a power of attorney regarding the title.

The bank releases the title to the buyer. That's how it worked before for me.

Thanks for the info. That makes sense, but probably doesn't address Jerry's concern about what the title says. I'm partially interested since I have put my NSX up for sale on this forum. I''ve got such a low interest rate on my car loan, I hate to pay it off early just to produce a title just in case this same issue comes up for me.

No big deal, but I did find this topic interesting and it has helped prepare me for the issue if it ever comes up.

Jerry - Good luck with the purchase! Hope it all works out for you. These cars are a blast to own!

 

[darknezz_ghost]

Some banks require to have a fax copy of the title as proof.

 

[Big_D]

I hoped you did more due diligence than that to make sure it's not salvaged. Titles can be washed. You have to check other sources, like carfax, and also get a thorough PPI, to make sure that the car is not a salvage title car.

Absolutely,

CarFax, PPI, and I went over the car very closely and test drove it. These are all things you have to do to buy the right car.

 

[350ztoronto]

hi Micheal,

the buyer probably just wants to see that this is not a scam as i had my doubts its probably due to your low post counts or join date (like mine)
specially for me being from Canada i just wanted to make sure that the car was even there =D
casue if i flew from canada to sac for no reason its a lot of money gone =/

Quy

 

[NSX-Appeal]

To have to fax it prior to consummation of the deal is odd.

Not really. I recently sold a car (not an NSX) to an out of state buyer who didn't know me from Adam. Naturally he was hesitant to send $28,000 to a complete stranger, so I offered to fax him a copy of the title (with the appropriate sections blanked out) to show him the title was clear and that I was a real person selling a real car - not some Ebay scam artist.

It was this gesture (I believe) that pushed him past the hesitation he was feeling, and gave him enough confidence to pull the trigger on the deal.