Title should be always in the name of the individual borrower. The dealer is required to select the check box below in the contract
Vehicles must follow the below schedule for compliance based on engine year. If their engine is older than the schedule allows, they must replace it or they will not be able to register with the DMV or transfer ownership.
Below is the Engine and Model year restriction by Truck Class as of Jan 1, 2020:
Vehicles weighing more than 26,000 pounds –
Vehicles weighing 14,000-26,000 pounds –
Most important thing to look at – Has it been signed off on/check off that it qualifies?
Important to note: these reports may vary between dealerships, but they all look at the same general attributes.
Most important thing to look at – Does it have an official company branding/letterhead?
Examples: Haul letter, Reference Letter or Company’s Letter stating what the truck will be used for.
Most important thing to look at – Page 2 of the RigDig report has a “Vital History” section. If each of the three subsections begin with “Great News!”, the truck is clean.
Most important thing to look at – If signed by DMV verifier, it’s good.
Important to note: these form may vary between states
Most important thing to look at – Check date in red. If the year is more recent than the year in the Engine and Model Year restriction by Truck class listed above, then it is good!
Most important thing to look at – Use this formula
Hours of use (on left) * 40 <= Miles (on right) *1.2 – If this is true, it’s good.
Below is an example of where to find the Engine hours: