shelhart2

I'm seriously looking at an e46 m3 dedicated track car. The owner never transferred title nor registered as it has full cage, etc. he has the physical title signed over from original owner to second buyer and then bill of sale from second buyer to him. So, no way for me to get a title. Of course I'm not registering the car but thinking title in my name a good think. Should I be concerned? What % of dedicated track cars have a title? Risks of not ever being able to get one?

redmonkey928

If it were a street/titled car at some point, personally I would not buy without having the title signed over (lien free, or released). But that is just my personal opinion.

Can't imagine there would be any issues either way if you have a BOS.

shelhart2

That's where I'm at. I guess only thing to do would be to try to track down original owner and throw him a few bucks for trouble in getting duplicate title and the sign over directly to me... I just don't like the bill of sale and not getting clean title...

surlynkid

Very common in race cars. My Spec Miata is this way. I have the title, but it changed hands like 3 times since then. Title just isn't signed over to me. Bill of sale only.

Veloce Raptor

Unless you ever expect to register the car for road use, the title is irrelevant with a full track/race car IMO.

pu911rsr

Only time I'd be worried about a title on a track car would be if there was a reasonable potential for lots of future appreciation. I wouldn't worry about it for a E46 M3.

Phil

KNK123

Get the original title and a copy of the subsequent bill of sale paper trail. Then get a bill of sale for yourself with standard reps and warranties (ownership; no liens; etc.). Then stop worrying about it and go drive. You have proof of ownership, you don't need anything else.

Frank 993 C4S

+1 - that's the way it's usually done for race cars.

John H

When you go to sell it one day, if the buyer wants or needs to finance, he can't get it without a title. You'd be limiting your pool. Limiting to what extent, I have no idea.

Viperbob1

Finance a race car? First even if you had a title and it was a street driven car the finance company would need to see pictures, proof of insurance and registration. So you would need DMV registration, pay taxes and tags (and in many places personal property taxes)Second, no one is financing a race car. If you cant afford to ball it up and walk away you cant afford it.

Veloce Raptor

^^ this ^^

Matt Romanowski

I agree but it doesn't mean people haven't done it.

John H

I've sold a race car to buyer who financed it for whatever reason. That's the only reason I made the comment. If I didn't have a title, that sale would not have happened at that time, at that price. Just something to consider. I wasn't weighing in on whether it is always a bad idea to finance or not.

I'd bet any race shop that has a note out or LOC has a blanket security lien on their equipment, tools etc (and cars it owns if any) FWIW.

stownsen914

Exactly. Even if not financing, they may just want a title. The other posts are correct that technically it does not matter if the current owner didn't bother to title it. But future potential buyers when the OP goes to sell may have the same questions, and might be scared off from buying.

Call the DMV in your state and check the paper trail they want to see for you to register the car. If the seller can produce the paperwork, go ahead and buy it, and you can title the car if you choose to do do.

LuigiVampa

I've also heard this is an issue if you are going across the border from USA to Canada. Any truth to needing a title for this?