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Related Questions from DMV Answers

• How much car insurance coverage do I need if there is a lien on my car?

  • Insurance > Insurance Requirements

  If there’s an auto lien on your vehicle, there’s a good chance you’ll have to purchase what’s commonly referred to as full coverage insurance. Of course, this is in addition to your state’s minimum liability auto insurance requirements. Full Coverage Insurance Explained Although it’s not a specific type of insurance, people still use the term “full coverage insurance” to describe a car insurance policy that provides more coverage than basic liability insurance. Typically, a full coverage policy provides: Collision Coverage: This covers your vehicle’s repair costs if you’re involved in a collision. Comprehensive Coverage: This covers repair costs if your vehicle suffers damages from something other than a collision, such as..

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• Where can I obtain a lien release form?

  • Title > Title Transfer

  You'll need to contact the financial institution that gave you the loan. In turn, they'll either send you a completed lien release form, or a letter that states you've been released from the loan. After you've paid off your loan, your bank should automatically send you the lien release. A lien release is often required by motor vehicle agencies in order to process a used car title transfer. Visit your state's motor vehicle agency site to learn what paperwork is required when buying or selling a used car. Most states do a good job of explaining this matter, but if you're confused, contact your local DMV branch or the state headquarters...

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• I paid off my loan but the lien holder has not released the title, what can I do?

  • Title > Title Transfer

  Contact the lender and ask that they take action to release the title because you have paid off the loan. Be ready with proof, such as the bank’s own “Paid in Full” note, or bank statements with payment history. When you pay off your car loan, your lender, or lien holder, is supposed to release the lien. At this point, you can enact a title transfer at the motor vehicle office, so that the title will be in your name only. Now, let’s say the lender, for whatever reason, never gets around to releasing the lien, and you only find out about the oversight much later. Now you can’t contact the lender because the bank failed and there’s no proof that you own your car. What to do? There is another option. Contact the FDIC, or Federal Deposit Insurance..

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• How do I title a vehicle in my name after I pay off the car loan?

  • Title > Title Transfer

  If you’re like the majority of American drivers, you used an auto loan to purchase your vehicle. Until the loan is paid off, the lien holder maintains the car title. This is because the lien holder has the legal right to repossess the vehicle if you fail to make your payments on time. Once you’ve paid off the car loan, the lien holder will notify your state DMV office. There may be a bit of a delay, since the lien holder will want to make sure there are no problems with your final payment before starting the title transfer process. However, if it takes more than a month for the lien holder to contact the DMV, you will want to make sure the lien holder isn’t trying any unsavory business practices. In the past, some drivers have found that the lien holder will try to keep..

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• After paying off an auto loan, how do I get the lien removed and title the vehicle in my name in CA?

  • Title > Title Transfer

  Auto Loan Paid Off Once you pay off your car loan, you may conduct a title transfer from the lienholder to you, the new owner. Usually, after you make your last payment, the lienholder notifies the CA DMV of this and the lender sends you the title. If the lienholder does not provide this service, then you must submit one of these items to the DMV yourself (all documents are available at a DMV office or online): Signature of the lienholder on the actual title. Lien Satisfied Statement form, which must be notarized and have the lienholder. Notarized statement from the lienholder (with the car’s description) stating that they have no loan on the vehicle. If the title is lost, then fill out the Application for Duplicate Title. Include the Lien Satisfied Statement notarized form. Title..

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