Contact the entity that loaned you the money to buy the car, be it a bank, loan company, etc. If the selling dealer personally loaned you the money then you need to speak to your local DMV and see what you need to do if you cannot contact the seller.
If you are buying a car on payments then there will be a lien on the car. the company will release the lien once the car is paid off.
If the lien is a purchase money lien (granted to allow you to buy the car), then no. If it is a nonpurchase money lien (you granted a lien on the car to secure an unrelated debt), then yes.
The question should be. Should you ever buy a car with a lien on it. The answer is absolutely not, no, not if you are smart.
NO! BANK LIEN-PAY IT OFF. MECHANICS LIEN-PAY IT OFF. autolienservice.com
If you took out a loan from the bank to buy your car, they have a lien on it. For all intents and purposes, they own the car until you have it paid off.
Lien must be satisfied somehow so title can be transferred.
Go to your local DMV and explain the situation. Have proof that the lender went out of business. Only They can remove the lien.
Yes but make sure YOU pay the lien off and don't just pay the seller and hope they will pay it off.
A lien title means that the car has a loan against it. If you do not have a "clear" or non lien title, the lender who hold the clear title can and does have the right to get the balance of the loan from you. The purpose of the lien title is to enable the car buyer to get the legal requirement for driving the car from the state. It's like renting the car in essence; the lien title is almost like the lease agreement for an apartment.So if a lien title is all there is...don't buy the car. It's not his to sell.Somebody has to settle the lien before you can legally own or register the vehicle.
AnswerPay off the lien holder and they wil sign a relase, putting the vehicle in the free and clear. It depends on the type of lien. Lender's lien or mechanics lien.autolienservice.com
does my car have a lien?
You can buy a car under your small business. You have to register the car and insurance under the name of your business.