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CarMax Auction Lost Vehicle Title

So, what happens if you purchase a vehicle from a Carmack’s auto auction, a wholesale auction, and then you lose the title?

The source of the problem
Typically, Carmack’s will sell vehicles at wholesale auctions that they don’t want to keep for their retail inventory. These vehicles may be too old, have too many miles, or their condition may not be that great. They’ll sell it at a wholesale auction, usually only to licensed dealers but sometimes to individuals as well.

Ownership and title issues
The problem arises because these cars are usually not titled under the name Carmack’s. Instead, they’re titled under the last retail owner’s name. This person may have no connection with the vehicle anymore, but legally, they’re still the owner until a new title is issued in your name. In many cases, these cars will also have a lien holder who needs to sign off on transferring the title to you or whoever you designate.

The Role of Carmack’s
Carmack’s is better than most auctions in being able to track down a title if you lose it. They may charge you a fee because they’ll have to spend some man-hours and leg work to track it down, but they have people in the title department who can help you out.

Time Frame and Process
The time frame for getting a title for a Carmack’s auction vehicle that’s been lost can be lengthy. On average, it takes about three to four months. This isn’t a title that’s handed to you at the time of purchase; it’s one that you lost after buying the car from Carmack’s.

What to Do If You’ve Lost the Title
If you’ve lost the title, your first step should be to contact Carmack’s title department. They may be able to help you out, but be aware that it may take some time, and they may charge you a fee to track down the title for you.

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