Let me address some of the most common questions dealers ask about vehicle acquisition and title issues.
“What if I unknowingly buy a stolen vehicle?” — You’re still liable. You don’t get to keep the vehicle. It will be seized by law enforcement and returned to its rightful owner. Your recourse is against the person who sold you the stolen vehicle — good luck finding them and collecting. Your bond may cover consumer losses if you’ve already sold the vehicle to a customer, but the bond doesn’t cover your own loss.
“Do I have to run a NMVTIS check on every vehicle I buy?” — The question isn’t whether it’s legally required for every transaction type but whether it’s good business practice. The answer is yes — always. The cost is minimal compared to the potential loss from buying a stolen, branded, or encumbered vehicle.
“What if the title has a different name than the seller?” — Don’t complete the purchase until you understand why. The seller might have a Power of Attorney, might be a family member who inherited the vehicle, or might be attempting to sell a vehicle they don’t own. Get documentation for every scenario.
“Can I buy a vehicle without a title?” — You can, but you’re taking on significant risk and additional administrative work. We’ll discuss bonded transfers later in this section, which is the mechanism for obtaining a title when one isn’t available.