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I have the opportunity to buy a scrap titled car that I would set up for racing. Here's the potential probem I see with this plan - I wouldn't be able to resell the car with a title if/when I decide to sell the car.
I'm thinking that in the case of an IT car, a buyer would be willing to buy the car with a copy of the scrap title and a bill of sale, since the scrap title could never transfer to an individual.
How did you folks handle such situations?
90% of the experienced racers here will say "What's a title ?".
You're obsessing. We all have race cars that we don't have a clear title to. Some race cars never had titles ("where's the MSO on that Formula Vee, dude ?").
Salvage title cars = perfect race cars.
Show me the CarFax (just kidding)... no title needed on a racecar. Could even use a 'clunker' in theory, once you fix the engine...
What's a title ?
the name of a book
<hand up> My car has a salvage title :)
So you guys have been able to sell your race cars without any problems?
Because I can always wait for a salvage title car to come across instead of a scrap title...
The only time I have ever heard of it being an issue is crossing the border into Canada.
Why would we want to sell our racecars? :)
The only buyer you'd eliminate is one who wants to drive it to the track or potentially one who will transport it on a tow dolly (depending on the state laws). Pretty small number of people would fit into either of those two categories. If the car's in decent condition and you have that scrap title to show it's not a stolen car for the next owner, you're fine.
I have the titles to all my race cars, but it is completely unnecessary.
Is a title required for this? I don't have any kind of title.Quote:
Originally Posted by dickita15
When we are done with our race cars. The title will not help you, the only thing we need to know is the current price per pound for scrap.
Just a rumor mind you... take it for what it's worth. but I've hear rumblings of a future rules change, primarily an effort to reinforce the original dual-purpose nature of Improved Touring. The new rule would require titles to be included with the logbook on all IT cars. Further, if there is no space on said title for addenda, an accompanying notarized affidavit showing the original part numbers (and weights) for the w/washer bottle and heater core will be mandantory. :o
...and for the glove box too!
an FP driver told me he was hasseled going to Mosport.Quote:
Originally Posted by Eagle7
I've been in & out of Canada a lot (Mosport...LCMT...etc), with titled and untitled cars, and have never ever had anyone ask about title. Bigger issue is likely the old Form 4455 thing - the "export & re-import" thing...they've probably changed the form now - you should declare it upon leaving...and then you won't have any problems bringing it back in. What's interesting is that I have a gearhead racer friend who is a US Customs & Immigration officer, and he's always told me "don't fill that 4455 crap out...we hate that...it's just more paperwork for us...we see racecars at the border all the time...it's not a big deal".
hey, i keep my title in my washer bottle.Quote:
Originally Posted by Gary L
i see it as no issue as well.
I bought an ITC Fiesta and the guy gave me a really old title with it... I Didn't think much of it, then opened it up and saw it was registered last to Randall Pobst. Do you think Randy will claim this car is still his?
Did he sign the titel to transfer it over to the next guy?
And no, Randy's driving some juicy stuff these days, he's never going to claim an old ITC car. He might BUY it from you for emotional reasons, though! Snap a pic, and hit a pro race and show it to him. He's been a great guy when I've talked with him, and I bet he'd get a chuckle!
The only racecar I've ever sold I never got a title for and the buyer never asked.
My dad's racecar DOES have a title and was street driven until 2003 or so, then we got serious and they started smog testing here, so we put a fat exhaust on it and I stripped some of the light wiring out of it. Horn still works though! Real handy for track days and passing newbies in tricky corners. :)
If buying a racecar without a title but with a signed bill of sale, could a previous owner come after you for 'stealing' their car?
Look in the back of your log book. There is a place to transfer ownership if you sell. Unless you go to register it for the street a title is not of much use.
If a "previous" owner had the car stolen and never made a claim on his insurance, and you "purchased" it from the thief (or anyone else who aquired it from the thief), you have a problem.
Why?
One cannot get good title (i.e., right of ownership; not a DMV document) from or through a thief.
If it was stolen and never recovered , but an insurance claim was made and paid, the insurance company--not the previous owner--can take the car back. Why? Because they purchased it and own it when they paid that theft claim.
That being said, two of my racecars never had good title documentation and I am not worried. Why? There was no thief involved.
Siged BOS says no. Does the BOS say" paid in full?"
have 2-3 race cars without titles.
Get a BOS, take a picture of the car with the prior owner.
Run the Vin # on your state hot sheet for good measure.
I found the title to the old Rocco today. It has been a race car since about 1991. Nice to know that we could put it back on the road. Some day this will be a collector car..
My current car never had a title, it was bought and put into service as an SSB car. Another car I have spent a lot of time w/ was sold with specific provisions that it could never be titled (damage on the dealer lot). Doing a car fax on these cars doesn't yield much information, it shows them arriving in either Seattle (or Oregon?). Nothing more.
Titles? We don't need no stinkin' titles.
What ia this "selling" you speak of?
this right here. run it till it's not worth running then keep on running some more it until you find something else to rag out.Quote:
Originally Posted by Wreckerboy
from a buying perspective, I think a signed BOS with cost and a cancelled check + transfered log book will do ya.
Lol. Lol again.Quote:
Originally Posted by Flyinglizard
That poor car has been upside down @ every race track on the east coast. Not sure who's collecting stuff like that. Is Timmy's dad's handprint still on the roof from where he stuck it out the window as it was rolling @ the Bus Stop ?
JW
(bought & sold that Rocco...twice !)