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Finding out too late that there's a lemon in your garage is enough to make your lips pucker. Fortunately, a nationwide database, expected to be fully in place by the end of January, will make it easier to access a car's troubled past.
The National Motor Vehicle Title Information System is the result of a law enacted long ago but only now being implemented in all 50 states under pressure from consumer groups; the statute requires insurance companies and salvage yards to report vehicles that have been totaled or severely damaged.
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Using the vehicle identification number (VIN), potential buyers can run a background check to get a car's odometer reading and theft record, and to find out whether the vehicle has been flooded, totaled, salvaged or smashed.
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Data is expected to be more comprehensive and up-to-date than that available now from other services -- and less expensive than a $30 CarFax report, although fees haven't been finalized yet. You'll likely be able to access the information from several Web sites.
A vehicle's history could be crucial in determining whether your car is roadworthy or whether the manufacturer will honor the warranty.
-- Candice Lee Jones
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
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