How To Register Car With Lien

Once you turn in that title from the seller with the lien on it when you are registering that lien will be recorded over to the title issued in your.

How to register car with lien. If you have anymore questions let me know. Your auto loan lender is usually the lien holder on your car and may hold the car title. You must satisfy your loan first and that s what selling it to the dealer will do. I just bought a car from a friend s mother a couple days ago. If you purchase a vehicle with a lien the lien must be paid or lienholder permission obtained before you can transfer the title into your name.

I live in ny state btw. Please note that you are not trading in your car because you don t actually own it. A lien is placed on the title of a vehicle to protect the interest of a creditor. Once you pay the lien with either cash or your loan the lien holder can transfer the title to you or your lender. She said she bought the car from someone local and didn t have a problem registering the car.

Yes you can register a car with a lien on it. If you re buying the car with a loan you will need to work with both your lender and the lien holder to come to an agreement. In some states you can hold onto the title even though there is a lien on it. The easier option of the two is selling your vehicle with a lien to the dealership where you intend to purchase your new car. To add a name to a car title when the car has a loan you usually need the cooperation and consent of the lender.

Depending on the state the lien holder will file the lien with your state s transportation agency such as the department of motor vehicles. You might have the option of refinancing the loan into two names however. My father is telling me that i need a statement from the bank the car was bought from saying that it is paid off. If he sends you the title with the lien release the car will be fine to register in your state. Whenever you pay the lien off 99 of the time you get the lien release right there.

I just realized there is a lien on it but the lien is not from her. Once you give the dealer a power of attorney the dealer will contact the lender directly and handle all financial arrangements. The lender would have a lien against the car for the loan and would technically be its owner.