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Author Topic: Title/proof of ownership questions.
DES4 Verified Driver
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I've been in the market for a Spec Miata, and I am finding that very few are actually titled. How critical is the vehicle's title as far as determining ownership and/or transfer of such? Is a bill of sale sufficent?

I've owned over thirty vehicles in my life, and transferring the title was always a standard ritual upon purchase for me.

Is it possible to get any type of loss coverage (against theft, vandalism or transport/storm damage) on a vehicle like this, or is the entire liability assumed by the owner?

I've found a car that I'd like to commit to at this point, but this is one small concern I have before I do so. Anything else (regarding the "race car ownership" experience") that a first-time race car owner should be aware of or prepare for?

Mike C Verified Driver Made Donation to Website
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Bill-of-Sale. Doubt you will find many "titled" race cars. I have stacks of titles. I normally pass along all the information I have on the car when it's sold.

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David Luney Verified Driver
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Like Mike C. said, not many titled cars out there. The Log Book is a more critical document. For insurance, you can do a search. There are a few specialty firms that provide theft/fire etc coverages.

Rye
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For what it's worth, I imported a car into the province of British Columbia, Canada, with an Oregon salvage title. The government here won't issue a registration to a car with a salvage title, until the car is inspected and road worthy. I suspect the same is true in most states as well.

I did, however get a letter (from the government!)stating that the "Bill of Sale" would hold more water in court regarding ownership than the vehicle ownership registration.

YMMV
Richard

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all of the cars we sell come with proper titles from the state the donor car was from.

most racers never bother with titling the car in their name. basically they just leave the reassignment open on the back for the next possible owner.

yes you can get insurance on the car to cover any type of loss NOT RELATED TO ON TRACK USE.

our trailer along with it's entire contents (2 cars, parts, tools, etc.) has it's own policy to cover a loss while en route to a track, parked overnight and back home. you have to inventory everything for a stated value.

most car policies will only cover the trailer up to the limit of coverage for the vehicle towing it. forget about it's contents or while it's at the track though.

PM if you need any help.

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Marc Cefalo

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Mike C Verified Driver Made Donation to Website
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Marc - when you say "proper titles" you mean you are passing along a title from the person you purchased the car from? Or you actually title the car to Planet-Miata?

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Mike Collins
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DES4 Verified Driver
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Thanks for the replies, all.

I prefer the flexibility that holding the title gives you, and I was reassured by Planet Miata's post. You have many options left open if the car has a clear title. I wouldn't not consider an untitled car (at this point), but my preference would always be one with.

Poking around the boards here, I found that some cars actually see limited road use, such as to and from events. I doubt I would try it, but that is pretty neat ( [Cool] ), as it harkens back to a time when racing was far more accessable (and cheap!) than it is today...

   

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