Minnesota
Related: About this forumWondering, how do I get the finance company name off my car title??
Made the last payment before the actual time frame of original contract, and now want to get the name off the title, how do I do it?? Tried calling the financial company and theres at least a 30 minute wait time because Im number bazillion in the waiting line. Called the dealership and they said call the finance company .anyone know how to get this done?? Or guess Ill call finance company and just make sure my phone battery is at maximum strength. 😡.
kozar
(2,863 posts)Will need to release the lien
Koz
33taw
(2,818 posts)(most states).
cloudbase
(5,748 posts)and the finance company routinely lets my state DMV know, and they send me a title free of liens. It just takes a little time, perhaps a bit more these days.
unblock
(54,157 posts)Most of that time is just delaying so they're damn sure the last check doesn't bounce, combined with there being no real incentive for them to be prompt.
I just did this for my car. I now have the original title they were holding, but with a dated stamp and signature that says the lien was released.
Kota
(901 posts)dflprincess
(28,477 posts)The title does show the finance company as a lien holder. When the loan is paid, the company will send a letter showing they no longer have a claim on the vehicle.
3Hotdogs
(13,403 posts)Consumer affairs office
question everything
(48,827 posts)After all the finance company has first priority if you total the vehicle?
dflprincess
(28,477 posts)You can go to the state to get a new titlle or just keep the release with the copy of the title you currently have. When you trade in or sell the car just present both the title and the release letter. That's what i've done in the past.
Randomthought
(897 posts)The finance company will send a release letter. I just keep the letter with the title in box at bank.