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How to obtain your car title after loan payoff Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by offering interactive tools and financial calculators as well as publishing original and impartial content, by enabling users to conduct research and compare data at no cost to help you make sound financial decisions. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this site come from companies that compensate us. This compensation could affect how and where products appear on the site, such as, for example, the sequence in which they be listed within the categories of listing in the event that they are not permitted by law for our mortgage or home equity products, as well as other home lending products. This compensation, however, does have no impact on the content we publish or the reviews you read on this site. We do not contain the universe of companies or financial offers that may be open to you.



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3 min read Published June 23, 2022
The story was written by Holly D. Johnson Written by award-winning writer, author and author

Holly Johnson writes expert content on personal financial, credit card loyalty, insurance and other topics. In addition to her work for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more.







Edited by Chelsea Wing Edited by Student loans editor

Chelsea has been working with Bankrate since the beginning of 2020. She's dedicated to helping students manage the steep costs of college and dissecting the complexity in student loans.









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After you've paid the final payment on an auto, you'll need to obtain you a title document from the lender to prove you legally own the car. The title is also a crucial document should you ever end up selling your car in the future down the road. What is is a proof the car is often, your lender. In many ways, a lien on your car is similar to a property lien on your home. When a lien is in place, the lender has rights to the vehicle until you pay back what you borrowed, plus fees and interest. When the loan is paid in full that lien placed on the car title is lifted and the title is released to you. This is when the title of the vehicle passes from the lender onto you. How do you get your title once you have paid off the car loan Once you pay off your auto loan the lien holder has to notify the local Department of Monitor Vehicles (DMV). They can do so electronically or by submitting specific documents that are required by law. Either way, they will notify the state that you no longer have a amount due on your loan and that you are an owner solely of the car. "After you've completed the repayment of your auto loan and have it cleared, you'll be able to get an "unconstrained and undisputed" vehicle title, meaning you now fully own the car," says Julie Shinn, vice director of lender control at RateGenius. "Anytime there's a change in ownership that require updating your title." The process for changing the title procedure varies from state to state. process of getting the title of the car you paid off is based on the state's laws. Certain states handle the whole process, while others require tedious work. According to Shinn, your lender will give you an obligation to file a lien release in states where you must submit a claim to obtain your title. This will include formal proof that the loan has been paid in full. After that, you'll need to take the documents to your state DMV to get an updated title in your name only. If you live in another state, once the DMV is notified that they have received your information, they will send you the title for your car , with no additional effort on your part. To learn the process for your state, go to your state's DMV website . What is the time it takes to get a title after loan repayment Shinn states there are states in which you have to file paperwork for a new car title under your name, you could expect to receive your new title anywhere between two and six weeks after you have submitted the necessary paperwork. But since every state's processing timelines differ and the process could be shorter or longer. Nishank Khanna, a CFO at Clarify Capital, says that states that have DMVs that mail out auto titles electronically could take less time, usually between 15 and 30 days. However, processing and mail time can drag on therefore, be sure to follow up with a call to the office, an email or a visit in person if you feel like that it's been a long time. Final considerations about liens While it's common for you to be able to put a lien on your vehicle, there are some key details to remember. For instance, a lien on your vehicle may -- or at the very least make selling your car more difficult, says Brian DeChesare of Mergers and Inquisitions. This is based on the fact that you will be required to pay back the vehicle loan and obtain acces to your title prior to being able to sell your vehicle or transfer it to someone else. There may not be enough money to pay off your car prior to selling it and, if you are able to owe more than what your vehicle is worth the amount, you'll need to pay for the difference. DeChesare adds that the opposite is the case also: You can't receive the title for an automobile when buying from someone with a lien until they have paid off the car. This is an extremely complicated process. Some DMVs do have a lien search feature where you can find out who owns the title to the vehicle and get in touch with them directly. As a result of these challenges, many drivers just trade in cars with a lien to their dealership to upgrade. If you are at a dealer will be given a trade-in value for your car , which is likely to be greater than the amount you owe. The dealer will transfer the title into its own name to allow it to sell your car to another person, taking you entirely out of the equation. The bottom line If you're looking for your car's title after you've paid off your auto loan it is possible that you will need to just sit back and sit back and. But, in some states, a trip to the DMV might be in your near future. Whatever the case, you'll be happy that you have paid off your car loan. Think about your future financial plans prior to upgrading to a new vehicle with a new loan particularly if your vehicle is in good shape. Find out more


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Written by Author, Award-Winning Writer

Holly Johnson writes expert content on personal financial, credit card loyalty, insurance and other topics. In addition to her work for Bankrate and CreditCards.com, Johnson is also a regular contributor for clients including CNN, Forbes Advisor, LendingTree, Time Magazine and more.



Edited by Chelsea Wing Edited by Student loans editor

Chelsea has been working with Bankrate since the beginning of 2020. She's dedicated to helping students manage the steep cost of college as well as simplifying the maze in student loans.






Student loans editor




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