How To Register Car With Lien

She said she bought the car from someone local and didn t have a problem registering the car.

How to register car with lien. I just bought a car from a friend s mother a couple days ago. A lien holder will be listed on the physical title if held by the owner and will also be recorded with the dmv in the state of the car s registration. The lender would have a lien against the car for the loan and would technically be its owner. Once you give the dealer a power of attorney the dealer will contact the lender directly and handle all financial arrangements. If you purchase a vehicle with a lien the lien must be paid or lienholder permission obtained before you can transfer the title into your name.

My father is telling me that i need a statement from the bank the car was bought from saying that it is paid off. Once you turn in that title from the seller with the lien on it when you are registering that lien will be recorded over to the title issued in your. To add a name to a car title when the car has a loan you usually need the cooperation and consent of the lender. Depending on the state the lien holder will file the lien with your state s transportation agency such as the department of motor vehicles. In some states you can hold onto the title even though there is a lien on it.

A high percentage of liens are placed on vehicle titles by the lender that provided financing for the purchase. Once you pay the lien with either cash or your loan the lien holder can transfer the title to you or your lender. I live in ny state btw. You might have the option of refinancing the loan into two names however. If you re buying the car with a loan you will need to work with both your lender and the lien holder to come to an agreement.

Yes you can register a car with a lien on it. I just realized there is a lien on it but the lien is not from her. Your auto loan lender is usually the lien holder on your car and may hold the car title. A lien is placed on the title of a vehicle to protect the interest of a creditor. If you have anymore questions let me know.

The easier option of the two is selling your vehicle with a lien to the dealership where you intend to purchase your new car. Please note that you are not trading in your car because you don t actually own it. Whenever you pay the lien off 99 of the time you get the lien release right there.