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Vehicle can be new or used but must have been purchased or refinanced in the last 12 months
 


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Auction Title Terms And Definitions
 

Term

Definition

Abandoned

Vehicle reported as abandoned.

Accident Data

Accident records were found for the vehicle.

Assembled

Vehicle reported was assembled from a non-manufacturer designee.

Assignment

The transfer of a property claim, property right, or property interest from one person or entity to another.

Auction Announced as Broken Odometer

Auction reports odometer no longer records distance driven.

Auction Announced as Exceeds Mechanical Limits

Auction reports the actual mileage/kilometers is greater than odometer allows to be recorded.

Auction Announced as Exempt

Auction reports the vehicle is generally exempt from normal/mandatory odometer law.

Auction Announced as Fleet/Lease

Auto Auction reported vehicle as fleet or lease.

Auction Announced as Flood Damage

Auction reports the vehicle was damaged by flood.

Auction Announced as Frame Damage

Auction reports the vehicle as having frame damage.

Auction Announced as Grey Market

Auction reports the vehicle entering the country and did not meet U.S. safety and/or environmental standards.

Auction Announced as Major Damage

Auction reports the vehicle as having major damage.

Auction Announced as Manufacturer Buyback/Lemon

Auction reports the vehicle was repurchased by the manufacturer or the vehicle has persistent automotive deficiencies.

Auction Announced as Municipal Use

Auction reports the vehicle was used by federal, state or local government agency.

Auction Announced as Not Actual Miles

Auction reports actual mileage is different than the odometer reading.

Auction Announced as Odometer Rollback

Auction reports a possible odometer rollback.

Auction Announced as Odometer Rollover

Auction reports a possible odometer rollover.

Auction Announced as Repaired/Replaced Odometer

Auction reports the odometer has been repaired/replaced.

Auction Announced as Repossessed

Auto Auction reported vehicle as repossessed.

Auction Announced as True Mileage Unknown

Auction reports the vehicle's actual mileage is unknown.

Brands or Branded

Words or symbols on a vehicle title issued by the DMV signifying the vehicle's status. Examples of brands include, but are not limited to, junked, salvaged, lemon or rebuilt/reconstructed vehicles; flood, hail, or fire damaged vehicles; totaled vehicles; vehicles with odometers that have been rolled back or exceed mechanical limits; stolen or abandoned vehicles; and vehicles with liens or judgments against them.

Bonded

Vehicle required the posting of a bond in order to register or title the vehicle.

Broken Odometer

Odometer no longer records distance driven.

Canadian Renewal

Vehicle had registration renewal event reported by Canadian DMV.

Commercial

The vehicle was registered and used for business purposes (such as a delivery truck, taxi or car rental).

Corrected Title

Vehicle had a corrected title issued by DMV

Damaged

Vehicle sustained significant damage to the body and/or mechanical components.

Damage Disclosure

The brand issued when the Seller indicates that the vehicle has been damaged as a result of one or more accidents.

Dealer Plates

Vehicle has a license plate registered through an auto dealer.

Driver Education

Vehicle is used to train individuals in driving skills.

Duplicate Title

Vehicle had a duplicate title issued by DMV

Emission/Safety Inspection

Vehicle has gone through an emission inspection

Exceeds Mechanical Limits

The actual mileage/kilometers is greater than odometer allows to be recorded.

Excluded / Exempt

Vehicle is generally exempt from normal/mandatory odometer law for the following reasons
1.Vehicle model year is 10 years or older
2.Gross weight of vehicle over 16000 lbs.
3.Vehicle is not self-propelled
4.Titled to the manufacturer.

Failed Emission Inspection

Vehicle failed to pass the state emission inspection.

Failed Safety Inspection

Vehicle failed to pass the state safety inspection.

Federal Government

Vehicle was used by federal government.

Fire Damage

Vehicle sustained damage due to a fire

Fire Damage Incident

Fire damage incident reported by independent source.

Government Use

Vehicle was used by a government agency.

Grey Market

Vehicle entered the country and did not meet U.S. safety and/or environmental standards.

Gross Weight Exemption

Vehicle is exempt from the odometer law after exceeding certain gross weight.

Hail Damage

Vehicle was damaged by hail.

Independent Inspection

Vehicle was inspected by an independent agency other than state DMV.

Independent Inspection/Theft Deterrent Equipped

Vehicle with an anti-theft device was inspected by an independent agency other than state DMV.

Insurance Loss

Officials determined the cost to repair a damaged vehicle exceeded the vehicle's value.

Junk

Vehicle parts have been salvaged and vehicle has been destroyed or scrapped.

Lease

Vehicle was registered as lease vehicle.

Lemon

Vehicle has persistent automotive deficiencies.

Lien

Lien record was found for the vehicle.

Livery Use

Vehicle that is "for hire" to transport people.

Local Government

Vehicle was used by local government.

Major Damage Incident

Major damage incident reported by an independent source.

Manufacturer Buyback

Vehicle was repurchased by the manufacturer.

Mileage Discrepancy

Error in current or prior odometer reading.

Motor Change

Vehicle had motor change.

Municipal Use

Vehicle was used/owned by a federal, state or local government agency.

NHTSA Crash Test Vehicle

Vehicle was used for NHTSA crash testing

Non Compliance

Vehicle does not meet government vehicle requirements, normally in the category of safety and/or environmental standards.

Non Profit

This brand means the vehicle was registered by a "not for profit" entity.

Not Actual Miles

Actual mileage is different than the odometer reading.

Odometer Problem

Vehicle had odometer related problems, including not actual miles, broken odometer, exceeds mechanical limits, mileage discrepancy, and suspect miles.

Odometer Reading From Independent Source

Odometer reading was provided by an independent source.

Odometer Rollback Evidence

The odometer mileage reported to the DMV on a given date is less than the mileage previously reported to the DMV at an earlier date.

Passed Emission Inspection

Vehicle passed the state emission inspection.

Passed Safety Inspection

Vehicle passed the state safety inspection.

Police Use

Vehicle was used by a police agency.

Previous Damage

Vehicle was previously reported as having been damaged.

Rebuilt/Rebuildable

A salvaged vehicle that was refurbished with new/used parts.

Reconditioned

Vehicle was overhauled.

Reconstructed

Vehicle was reconstructed using new/used parts

Registration/Renewal

Vehicle had registration renewal event reported by state DMV.

Rental/Fleet

Vehicle is or was operated as a rental vehicle or vehicle is assigned to a pool of vehicles usually owned/leased and operated by a company.

Reported at Auto Auction

Vehicle reported the vehicle's odometer reading is from auto auction.

Repossessed

Vehicle was reported as repossessed.

Safety Inspection

Vehicle has gone through state safety inspection.

Salvage

A vehicle branded as salvage by the reporting DMV.

Salvage Auction

Auction reports the vehicle as a salvage vehicle. Extent of damage unknown. May or may not be severely damaged.

Salvage Correction from DMV

State has corrected a previously branded Salvage Title.

Scrapped/Destroyed

Vehicle was reclaimed by a scrap dealer for its metal content.

Service Contract Issued

Vehicle reported by an independent service contract company as having a service contract issued.

Special Constructed

Vehicle was altered from manufacturer's original design.

State Government

Vehicle was used by a state government.

Suspect Miles

State or other authorized officials have reason to believe the mileage is not correct.

Taxi Use

Vehicle is or was used as a taxi.

Theft

Vehicle was stolen from its legal owner.

Theft Insurance Claim

Insurance claim was filed on stolen vehicle.

Theft Recovered

Vehicle previously reported stolen has been recovered.

Title

Vehicle had title registration event reported by state DMV.

Unknown Odometer Reading

Odometer reading is unknown.

Unrebuildable

Vehicle is not repairable and waiting to be scrapped.

Vehicle Imported From Canada to US

Vehicle was imported from Canada to US.

Vehicle in Dealer Inventory

Vehicle was in dealer inventory.

Vehicle Service Performed

Vehicle reported by an independent service contract company as having a service or repair claim performed.

Water Damage

Vehicle has sustained water damage.

Please have the date your car or truck was purchased, total purchase price of the vehicle, amount financed, annual percentage rate (Not to exceed 12.5 APR) name and address of Lender, vehicle year, make, model.

Gap Insurance is available in all states except: CT, LA, NY, VA, WA


                                                                       

                                                          

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Car buyers overlook the biggest expense of car ownership: DEPRECIATION

The unavoidable meltdown of equity in their vehicle. Low down payments, long-term auto loans + rapid depreciation = Financial Shock in the event of a total loss or theft when the borrower could owe thousands more to the lender even after the insurance settlement

 

For your convenience when ordering coverage please have the following information available;

Vehicle year, make, model

Date your car or truck was purchased

Total purchase price of the vehicle

Amount financed

Annual Percentage Rate (Not to exceed 12.5 APR)

Name and address of Lender