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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 better financial decisions by providing you with financial calculators and tools that are interactive, publishing original and objective content. This allows you to conduct research and compare data at no cost to help you make sound financial decisions. Bankrate has partnerships 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 are from companies that pay us. This compensation could affect how and where products appear on this site, including, for example, the sequence in which they appear within the listing categories 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 affect the content we publish or the reviews that appear on this website. We do not contain the entire universe of businesses or financial offers that may be accessible to you.



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

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







Editor: Chelsea Wing Edited by Student loans editor

Chelsea has been with Bankrate since the beginning of 2020. She is invested in helping students navigate the daunting costs of college , and dissecting the complexity in student loans.









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Once you've made the final payment on an auto, you'll need to obtain you a title document from the lender to show that you legally own the vehicle. This title is also a crucial document if you end up selling your vehicle down the road. What is is a document that proves that your vehicle is , in many cases your lender. In many ways the lien on your car is similar to a property lien on your home. With a lien in place it is the lender is entitled to the vehicle until you have paid off the amount you borrowed, as well as interest and fees. When your loan is paid in full that lien placed on the automobile title is lifted, and the title will be transferred to you. At this point, the legal ownership of the car shifts from the lender onto you. How do you obtain your title after paying off the car loan When you've paid the auto loan, the lien holder is required to inform your state's Department of Monitor Vehicles (DMV). They can do so electronically or submit specific documents that are required by law. Whatever method you choose, they'll inform the state that you no longer carry an outstanding balance on your loan and that you are only the owner of your 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 are now the sole owner of the vehicle," says Julie Shinn the vice president of lender control at RateGenius. "Anytime there's an ownership change it is necessary to change the title." The process for changing the title procedure varies from state to state. procedure for obtaining the title to the car you paid off is based on the laws of your state. Certain states handle the whole process, while others require grunt work. According to Shinn the lender will provide you with a lien release in states that require you to file to get your title. This is a formal document that proves that the loan is paid in full. Then, you'll bring the documents to the state DMV to get an updated title in your name only. If you live in another state, after the DMV is informed, they will automatically mail you the title for your car , with no additional effort on your part. To learn the process in your state, go to the state's DMV website . How long it takes to receive a title following loan payoff Shinn says there are states in which you have to submit paperwork in order to obtain a new car title in your name. You could expect to get your new title in any time from two to six weeks after you have submitted the paperwork. But since every state's processing timelines differ, the process may be a bit longer or shorter. Nishank Khanna, a CFO at Clarify Capital, says states with DMVs which mail auto titles electronically could take less time, usually between 15 and 30 days. However, processing and shipping time can take a while, so be sure to follow up with a phone call or email, or even an in-person visit when you think it's been too long. The final considerations regarding liens While it's common to have a lien on the vehicle you own, it is important to remember some key details to remember. A lien on your vehicle could -- or at the very least make selling your car more difficult according to Brian DeChesare of Mergers and Inquisitions. This is based on the fact that you'll have to pay off the vehicle loan and obtain acces to your title before you are able to sell your car as well as transfer title another person. It is possible that you don't have the money to pay off your car before the sale and if you do happen to owe more than what your vehicle is worth, you'll have to pay for the difference. DeChesare is also of the opinion that the opposite is true too: You won't get the title of an automobile when buying from someone with a lien until they have paid off the car. This can be a tricky ordeal. However, some DMVs offer a lien search option which allows you to determine who holds the title of the vehicle and get in touch with them directly. As a result of these challenges, many drivers just trade in cars with an attached lien to their dealership to upgrade. If you visit a dealership, you'll be offered a trade-in value for your car that is hopefully more than what you are owed. The dealership will then transfer the title to the owner in order to be able to transfer your vehicle to another person leaving you out of the equation. The final word If you're trying to get your car title after paying back your automobile loan and you're in need of to simply sit back and wait. In some states, a visit to the DMV could be in the future. Either way, you should be proud of having completed the repayment of your auto loan. Be aware of your financial future prior to upgrading to a new car with a new payment in particular if your current vehicle is in good shape. Find out more


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Written by an Author, Award-Winning Writer

Holly Johnson writes expert content on personal finances, credit cards loyalty, insurance and other topics. In addition to writing articles for Bankrate and CreditCards.com, Johnson is also a regular contributor for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and other publications.



Editor: Chelsea Wing Edited by Student loans editor

Chelsea is with Bankrate since the beginning of 2020. She's committed to helping students manage the steep costs of college and simplifying the maze of student loans.






Student loans editor




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