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Why is there a ten business day wait for the title to be sent after the loan is paid off on a vehicle?
Wiki User
∙ 16y ago
Most titles are warehoused at a '''clearing house''' type business, not at the financial institution the loan is through. Before mailing your title this business verifies there are no other leins on the title (i.e.insurance co.,etc.)
Wiki User
∙ 16y ago
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Can you sell a vehicle if the cosigner refuses to sign off on the loan?
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.
How would you obtain a new title for a recently purchased vehicle?
If the car is paid off, you can probably get the title at the Department of Motor Vehicles. If the car is not paid off, the bank that holds your loan holds the title until the loan is satisfied.
If a car was paid for and then you took out a title loan against it for twice the vehicle's value can the title loan company repossess it?
Why would they NOT be able to repo a car they purchased the title to? READ your contract.
What happens if a dealer does not send the title to the owner of a vehicle?
It normally take 30-45 days to get a title. I you financed the vehicle, you wont get the title, the lienholder will get it and send it to you once the loan is paid in full.
Is it possible to have a lien on your vehicle even if you already have the title?
Yes. The title you received when you purchased the vehicle should show the lien holder. Even when you buy a vehicle on credit, you will receive a title. It is a lien title. You will not receive the full or clear title until the vehicle loan is paid off.
Bought a car out of state but loan is with your bank Who receives the title?
The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.
Can I get my name off the title and loan of my ex-son in law's van if he still has a loan on the van?
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.
What are your rights if you paid a relative's auto loan off and have possession of the vehicle?
In all states the way the vehicle title is worded determines the ownership. Even when someone pays off a loan, unless their name is on the title they do not own the vehicle. The person who the vehicle is titled to has the legal right to recover it from whomever may have possession. The party who paid the loan would have to file a lawsuit to recover their expenditure if the vehicle owner would not voluntarily submit repayment.
Does the primary borrower need the co signer signature to sell his vehicle if its not paid off all the way?
Generally, the lender keeps the title until the loan is paid. You cannot sell the vehicle without the title. The co-signer doesn't own the vehicle unless they are also named on the certificate of title.
Can you get a loan for a boat if you have already paid cash for it?
Yes. Go to a bank where you already do business and ask for a loan using your boat as collateral. If you have the boat title in your possession, the bank will need or require the title be kept by them until the note is paid in full.
When getting an auto loan, is the title different in California than paying cash for a 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.
If the loan for a vehicle is in one person's name and the tite in another's what are the rights of the person on the title if the vehicle is repossessed?
None, unless the person who is named on the title chooses to make an agreement with the lender to refinance the car in their name. A title which has a lien against it does not confer ownership to the title holder. The vehicle belongs to the lender/lien holder until the loan agreement is paid.
