I just bought a vehicle and didn't know it was salvage until

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PostPosted: Wed Feb 03, 2010 3:55 pm   Post subject: I just bought a vehicle and didn't know it was salvage until  

I just bought a vehicle and was suprised when I went to the Missouri license office and the title application said "ORIGINAL/NON-NEGOTIABLE-SALVAGE TITLE". In this case what does the Non-negotiable mean?

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PostPosted: Wed Feb 03, 2010 5:23 pm   Post subject:   

Did you finance the vehicle. I don't know MO well (Lori will know) but to me it seems like you financed the vehicle and were given the title as required. The non-negotiable would mean you have the title only for the purpose of registering the vehicle.

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PostPosted: Wed Feb 03, 2010 6:50 pm   Post subject:   

Non-negotiable is just a title brand. Since you don't have the actual title, this allows the vehicle to registered in the state until the title is processed. In most cases of traded in vehicles, the title is not readibly availible to the dealer/seller. The non-negotiable is the transfer of that title to either you or the bank.

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PostPosted: Wed Feb 03, 2010 8:20 pm   Post subject:   

Lein holders don't hold title in MO anymore..so you should have the original title...but what I'm wonder is...how in blazes did you not know it was a prior salvage?



To start with you should know simply by having that brand (prior salvage) your car is worth anywhere between 15-40% less than without it. Crying or Very sad



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Last edited by Lori on Thu Feb 04, 2010 12:58 am
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PostPosted: Wed Feb 03, 2010 9:37 pm   Post subject:   

If LH's don't hold titles then they give then to the person buying the vehicle. But the title should still have the LH's name on it. So the info I found seems to apply, it states "non-negotiable" so that it's obvious that the person in possession of it cannot manipulate the title (i.e. sell the vehicle).

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PostPosted: Wed Feb 03, 2010 10:00 pm   Post subject:   

I meant what T stated.



"ORIGINAL/NON-NEGOTIABLE-SALVAGE TITLE" does not mean he has a salvage vehicle.

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PostPosted: Thu Feb 04, 2010 12:47 pm   Post subject: Non-negotiable title  

Non-Negotiable title is issued when a vehicle is bought from out-of-state and has a lien holder who possesses an out-of-state title.


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PostPosted: Thu Feb 04, 2010 12:59 pm   Post subject:   

I've never seen a MO title with the word SALVAGE on it, that wasn't a salvage or prior salvage title...I just looked at the 5 or 6 titles I have at home (two vehicles, boat, trailer, motor(s), 4 wheeler)...NONE of them have this wording on them...They all say 'original' title...course there were leinholders on them at one time, and they still are on the title (since MO changed this a few years back) but I have the lein releases...I'll be seeing some more titles here within the next few days, I'm sure..and look at these, but again, I've never seen a MO title with salvage on it..that wasn't a salvaged vehicle.



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PostPosted: Fri Feb 05, 2010 4:36 pm   Post subject:   

Must have been an old title. According to this information on the state web site those titles have been rescinded since 1993.





Quote:
12 CSR 10-23.200 Nonnegotiable Certificate

of Title to a Motor Vehicle or Trailer

(Rescinded September 9, 1993)

AUTHORITY: sections 301.010, 301.190 and

301.300, RSMo Supp. 1990. Original rule

filed Jan. 17, 1986, effective May 29, 1986.

Amended: Filed Nov. 12, 1991, effective

March 9, 1992. Rescinded: Filed March 24,

1993, effective Sept. 9, 1993.


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