Need Help Interpretting a CarFax

[GrnNatlFan]

Can someone lend assistance in interpretting a Carfax. Vehicle owner says he is the second owner. the Carfax has the following:

Date:
Mileage Reading:
Source:
General Comments:


12/01/1986 49,687 Missouri
Motor Vehicle Dept.
Saint Louis, MO
Title #AG725355
Title issued or updated
Loan or lien reported


12/02/1988 77,200 Missouri
Motor Vehicle Dept.
Saint Louis, MO
Title #AJ913996
Title issued or updated


06/21/1989 86,232 Missouri
Motor Vehicle Dept.
Saint Louis, MO
Title #AP216485
Title issued or updated


08/08/1989 88,928 Missouri
Motor Vehicle Dept.
Saint Louis, MO
Title #AP308627
Title issued or updated



With 4 different title numbers, would this mean it's at least a 4 owner vehicle?

HELP!

 

[TurboDave]

It's also possible that the two owners each had it financed and then paid off. Each financing and each pay off would have generated a new title.