Title Issue Help

[armed]

My younger brother did something a little stupid and I am trying to help him out. Your advice on this issue is much appreciated.

So my bro picked up a 2005 Lexus IS 300 with 55,000 miles from craigslist for $2500 with NO TITLE. He however does have a notarized bil of sale.
Now I did some digging up with the DMV and these are the things I have found.

a) There is no lien, no criminal or theft or repo against this vehicle.
b) The title DOES exist. The title is in Florida. However - the nature of the title is COD - CERTIFICATE of DESTRUCTION.
c) The state of NC is a bitch when it comes to titles. Even for a Bonded title, I cant procure it for a COD.

Questions:
Is there any way I can re-title this car? - I tried the Vermont route - to get a temporary tag with a bill of sale/60 days. however even they need the title.
Currently it does not have any plates - is it possible to drive it with dealer plates?
Is there any other alternative to having to part the whole car or doing a shell switch. Both these routes i want to avoid.
Last resort is to make it a drag only car - but he is a student and cant afford a second car at the moment.


Please help!

[dkp2LT]

Just curious - what type of shape is it in? Because $2.5k for a 2005 IS 300 is worth way more than that. In the too good to be true category.

Doing a bit of searching and you may be out of luck - you may not be able to ever title since it was a COD and not a salvage. From what I read the COD = parts or export it.

I have a feeling he got what he paid for...

Edit: Not sure about the dealer tags - I would think as long as you have your insurance it would be ok???

[trewyn15]

$2.5k because someone was having trouble getting a title for it.

With that being said, if you can't get a title you'll break more than even if you part it out.

[armed]

The cars is perfect, every single maintenance performed, new tires , its a shame to part it out.

Looks like parting out maybe our only option.

[05stram]

Try KY use to be able to run any title through KY or in your case even a CoD and get it back clean...do not know if it has changed in the last few years - you will just need a KY address

[05stram]

you can still do it in KY I found it for you look at paragraphs 5 an 6

http://www.lrc.ky.gov/krs/186a00/530.pdf

[upflying]

Certificate of destruction means the same as "non-repariable". That car was so extensively destroyed that rebuilding is impossible. A total burn or or rollover are examples. The intent of a COD is to prevent re-registration.
IIWY, I would take that car to a state police auto theft investigator for an inspection. I am guessing that IS300 is stolen and was re-vinned with the COD numbers.
The thieves just made a cool $2500 profit on behalf of your brother.

[Fiveg56]

Originally Posted by upflying

Certificate of destruction means the same as "non-repariable". That car was so extensively destroyed that rebuilding is impossible. A total burn or or rollover are examples. The intent of a COD is to prevent re-registration.
IIWY, I would take that car to a state police auto theft investigator for an inspection. I am guessing that IS300 is stolen and was re-vinned with the COD numbers.
The thieves just made a cool $2500 profit on behalf of your brother.

Agreed. Likely a re-VIN on a stolen.

[05stram]

I would say since it is Florida that is is a Hurricane car

[armed]

anyone with a KY address want to make some money? holla.

[upflying]

Originally Posted by armed

anyone with a KY address want to make some money? holla.

Just rent a mail box in Kentucky..for example..
http://www.superpages.com/yellowpage...Y/T-Lexington/

[armed]

Originally Posted by upflying

Just rent a mail box in Kentucky..for example..
http://www.superpages.com/yellowpage...Y/T-Lexington/

Would they give the title to a po box?

[tones2SS]

Originally Posted by upflying

Certificate of destruction means the same as "non-repariable". That car was so extensively destroyed that rebuilding is impossible. A total burn or or rollover are examples. The intent of a COD is to prevent re-registration.
IIWY, I would take that car to a state police auto theft investigator for an inspection. I am guessing that IS300 is stolen and was re-vinned with the COD numbers.
The thieves just made a cool $2500 profit on behalf of your brother.

BINGO! Car may have been stolen and either torched and very badly damaged and not worthy of being repaired by the insurance company. I don't know how getting a title for this car is possible. Good luck!