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How to obtain your car title after loan payoff Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by providing you with financial calculators and interactive tools, publishing original and objective content. This allows users to conduct research and compare data at no cost and help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this site are from companies who pay us. This compensation can affect the way and when products are featured on this website, for example, for example, the order in which they may appear in the listing categories and other categories, unless prohibited by law. Our mortgage or home equity products, as well as other products for home loans. However, this compensation will not influence the information we provide, or the reviews you read on this site. We do not cover the universe of companies or financial offerings that could be open to you.



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3 min read Published June 23, 2022
Written by Holly D. Johnson Written by Author, Award-Winning Writer

Holly Johnson writes expert content on personal financial, credit card loyalty, insurance and other topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients which include CNN, Forbes Advisor, LendingTree, Time Magazine and other publications.







Editor: Chelsea Wing Edited by Student loans editor

Chelsea has been with Bankrate since early 2020. She's dedicated to helping students navigate the daunting cost of college as well as breaking down the complexities of student loans.









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Once you've made the final payment on an , you will need to obtain an official title issued by your lender to prove you legally own the car. The title is also an important document if you end up selling your car in the future down the road. What is is a document that proves that your vehicle is , in many instances, your lender. In a lot of ways the lien on your vehicle is similar to a property lien on your home. When a lien is in place it is the lender has rights to the vehicle until you pay off what you borrowed, in addition to interest and fees. When the loan is paid in full, that lien placed on the vehicle title is lifted, and the title will be released to you. The legal title to the vehicle shifts from your lender to you. How do you get your title following the payment of your car loan When you've paid the auto loan, the lien holder is required to notify the State's Department of Monitor Vehicles (DMV). They can do this electronically or by submitting specific documents required by the state. Either way, they will notify the state that you no longer carry a amount due on your loan and are an owner solely of the vehicle. "After you've completed the repayment of your auto loan you'll receive an "free and clear" title for your vehicle, which means that you are now the sole owner of the car," says Julie Shinn, vice president of lender control at RateGenius. "Anytime there's a change in ownership that require updating on the record." The process for changing the title process is different for each state. process involved in getting the title of your paid-off car depends on your state laws. Certain states handle it entirely and others require laborious work. According to Shinn the lender will give you a lien release in states that require you to apply for your title. This will include formal proof that the loan is paid in full. From there, you'll take the documents to your state DMV for an updated title solely in your name. Other states have different procedures, when the DMV is notified, they will automatically mail you the title to your vehicle with no effort on your part. To find out more about the procedure in your state, go to the State's DMV website . What is the time it takes to get a title after loan repayment Shinn states there are states in which you have to file paperwork for an auto title that is new under your name. You could expect to receive your new title anywhere between two and six weeks after you have submitted the necessary paperwork. Since every state's processing timelines differ so the process can be longer or shorter. Nishank Khanna, a CFO at Clarify Capital, suggests that states that have DMVs that mail out auto titles on a regular basis may require less time, generally around 15 to 30 days. But, processing and mailing time can drag things out and you should follow up with a phone call or email, or even an in-person visit if you feel like you've been waiting too long. Last thoughts about liens Although it's normal for you to be able to put a lien on the vehicle you own, it is important to remember some important details to keep in mind. For instance, a lien on your vehicle could -- or at the very least make the sale significantly harder, says Brian DeChesare of Mergers and Inquisitions. This is due to the fact that you'll be required to pay back the vehicle loan and gain acces to your title before you can sell your vehicle as well as transfer title someone else. It is possible that you don't have the money to pay off your car prior to selling it, and if you happen to owe more than your vehicle is worth the amount, you'll need to pay for the difference. DeChesare adds that the opposite is true also: You can't be granted the title to the car you purchase from someone who has a lien until they pay to buy the car. This can be an extremely complicated process. But, certain DMVs offer a lien search function that allows you to find who has the title for the car and then contact them directly. Because of these issues, many drivers just trade in cars with the dealership's lien as they upgrade. If you visit a dealership will be given an amount to trade in your car that is hopefully more than you are owed. The dealership will take care of transferring the title into its own name in order to be able to transfer your vehicle to someone else and take you completely off the table. The final word If you're trying to obtain your title after having paid the balance of your car loan and you're in need of to simply sit back and wait. But, in some states, a trip to the DMV could be in the near future. Either way, you should be proud of having have paid off your car loan. Be aware of your financial future before deciding to upgrade to a new car with a new payment particularly if your vehicle is still in good condition. Find out more


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Written by an Award-Winning Author, Author

Holly Johnson writes expert content on personal financial, credit card loyalty, insurance and other topics. In addition to writing on behalf of Bankrate and CreditCards.com, Johnson is also a regular contributor for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and other publications.



Edited by Chelsea Wing Edited by Student loans editor

Chelsea has been working with Bankrate since the beginning of 2020. She's committed to helping students navigate the daunting cost of college as well as dissecting the complexity of student loans.






Student loans editor




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