Who Keeps the Original Vehicle Title? A Comprehensive Guide

Mr. Ba, a grocery store owner in Hanoi’s Old Quarter, finally saved enough to buy a small truck for his business. Following a friend’s advice, he found a seller in Gia Lam offering a seemingly good deal, including handling the paperwork. Excited, Mr. Ba made the purchase. However, the truck soon began experiencing problems. Repairs revealed the vehicle had been stripped of parts, and the paperwork was not original. Devastated, Mr. Ba realized he had been scammed and lost his life savings.

Mr. Ba’s story is not uncommon, especially for those inexperienced in buying and selling vehicles. So, who keeps the original vehicle title? How can you avoid scams? This article will provide essential information.

The Original Vehicle Title – Every Owner’s Most Important Document

What is the Original Vehicle Title?

The original vehicle title, also known as the vehicle registration certificate, is a collection of crucial documents for a vehicle, including:

• Vehicle Registration Certificate: Proves the vehicle’s origin and contains information about the owner, license plate number, VIN, engine number, etc.
• Vehicle Inspection Certificate: Confirms the vehicle has been inspected and meets safety and technical standards.
• Certificate of Compulsory Civil Liability Insurance for Motor Vehicle Owners: Mandatory for participation in traffic.

Why is the Original Vehicle Title So Important?

Similar to a household registration book for citizens, the original vehicle title is the vehicle’s “birth certificate,” the legal basis for determining ownership, origin, and vehicle condition. It plays a crucial role in:

• Buying, selling, and transferring ownership.
• Periodic vehicle inspections.
• Applying for bank loans.
• Obtaining vehicle insurance.
• Handling traffic violations.

So, Who Keeps the Original Vehicle Title?

According to current regulations, the vehicle owner holds the original vehicle title.

Note:

• If the vehicle is purchased with a loan, the bank or financial institution will hold the original title until the loan is fully paid.
• Never give the original title to anyone without knowing their purpose, especially during vehicle transactions.

Original vehicle title documents

Buying a Used Truck: Caution is Key

Buying a used truck is a cost-effective solution for many individuals and businesses. However, the used vehicle market carries risks, especially concerning stolen vehicles or those with unclear origins.

How to Avoid Losing Money and Gaining Trouble?

• Choose a reputable dealer: Purchase from reputable truck dealerships like Thai Phong Auto in Cau Giay, Hanoi, or places recommended by acquaintances.
• Thoroughly inspect vehicle documents: Request the seller to present the complete original title and verify the information against the actual vehicle.
• Check the vehicle history: Verify the vehicle’s maintenance, repair, and accident history at reputable garages or through vehicle check applications.
• Create a detailed purchase agreement: Clearly state the rights and obligations of both buyer and seller to avoid future disputes.

Frequently Asked Questions About Original Vehicle Titles

1. Is the Original Motorcycle Title Necessary?

Just like with cars, the original motorcycle title is essential. You must keep it safe to carry out legal procedures related to the vehicle.

2. What if I Lose the Original Vehicle Title?

Report the loss to the police and then apply for a replacement title at the vehicle registration office.

3. Should I Buy a Vehicle Without an Original Title?

Never buy a vehicle without the original title. You risk acquiring a stolen or illegally obtained vehicle.

Used truck sales

Conclusion

The original vehicle title is every owner’s most valuable document. Understanding regulations and precautions when buying or selling a vehicle will help you avoid risks and protect your interests.

Be a smart consumer!

For detailed advice on trucks and related services, contact XE TẢI HÀ NỘI or visit our website https://xetaihanoi.edu.vn/.