Not necessarily. In this state certain legal work and a bill of sale must be filled out precisely and correctly. You must get legal proof you paid off the loan. Certain taxes must be paid. After you have jumped through all the required legal hoops, then you can get the title. Temporary tags exist to show you have met all requirements but are waiting for the title.
You will lose the car if the Auto title loan is not paid. The lapse in repayment can result in reposession of the car.
Yes, taking out an auto loan means that there is a lienholder on the title of the vehicle. Once the loan is paid off, the lienholder is removed and it is owned free and clear.
With a title auto loan, your vehicle has already been paid off and you are using it as collateral for a new loan sometimes referred to as a cash advance. A normal auto loan is dedicated to the new or used vehicle and the funds normally are not used for anything else unless financed within the loan ie. warranty.
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
Yes, you will not receive your title until all fees are paid on the loan. I know for a fact because I am in the same situation.
The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.
The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.
Call the finance company. If the loan is paid off, they should just mail you the title. Sometimes it takes 30 or 60 days.
I have a car that is paid off. The bank is holding the tittle for colletaral for another car loan that was repo. Is this legal?
Can u go to jail for now paid a title loan
I need to clear the title on my pontoon boat that was paid off in 1995. I have a copy from NBD Loan Office with a stamp saying it was paid but Michigan Secretary of State says I need a letter from NBD.
The only way to get your car title back from the Bank of America is to pay of the loan that the title is collateral for. If the loan is paid off, they will send you the title in the mail.