How to Get Your Car Title After Paying Off Your Title Loan

Daniel Joelson

Daniel Joelson

Total Posts: 346

Published Date: February 7, 2024

Daniel Joelson has been in the consumer finance space since 1994, he has helped to develop underwriting manuals for the financial sector. With a vast amount of Knowledge in consumer finance, he has been writing articles for all types of loans. With his knowledge, he is able to help many people to answer different financial problems.

Congratulations on paying off your title loan! This marks a significant milestone in your financial journey. Now, let us go into what happens next and how you can secure your car title from the lien holder.

Who is a Lien holder?

A lien holder is the institution that provided the funds for your vehicle purchase or loan. They have a legal right to the vehicle as collateral until the loan is fully paid off. If payments are not made as agreed, the lien holder can repossess the vehicle.

After you have completed your payments, the lien holder should notify your state’s Department of Motor Vehicles (DMV) of the loan’s satisfaction. It is essential to inform your insurance company of this change in ownership, as the lien holder’s interest may have influenced your insurance coverage.

Insurance Considerations

While the lien holder has a financial interest in the vehicle, they often require comprehensive insurance coverage, including collision and comprehensive, until the loan is repaid. Once the loan is settled, you have more flexibility in choosing your insurance coverage. Discuss your options with your insurer to ensure you have suitable coverage.

Process of Getting Your Car Title

The process of getting your car title after paying off a loan varies by state. Some states require you to submit paperwork to the DMV, while others handle the process electronically.

  1. Paper Title States: In states where traditional paper titles are used, your lender should provide a lien release and other necessary documentation to prove the loan’s repayment. Take these documents to your local DMV to receive an updated title in your name.
  2. Electronic Title States: States using electronic lien and title (ELT) systems may automatically update your title after receiving notification from the lien holder. You will receive the new title by mail without needing to visit the DMV.

Timeline for Receiving Your Title

The time it takes to receive your new title varies by state and DMV procedures. In states requiring paperwork submission, expect to receive your title within two to six weeks. For automatic title updates, it may take 15 to 30 days to receive your updated title by mail.

If you experience delays beyond these timelines, don’t hesitate to contact your local DMV for assistance.

Paying off your car loan is a significant accomplishment. Understanding the lien release process and title transfer procedures ensures you can enjoy full ownership of your vehicle.

We will be your title loan broker, we have the largest network of lenders, for you to get the right lender, contact TFC Title Loans.

 

Need Cash Now? Get Approved In Minutes!

How Much Cash Can i Get?
Disclosures

DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

*Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

*Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

*Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

*All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

*The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

*In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

*Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

*Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

Skip to content