It could include things like getting insurance or any instance where you would have to prove that you are the vehicle's legal owner. It will have you and the lender listed as owners, and you will use this to show proof of ownership in any situation that might be warranted. In a title-holding state, you will get your copy of the car's title as soon as you purchase the vehicle. You should also know whether your state is a title-holding or non-title-holding state. Keep this documentation, as you will most likely need it to transfer the title to you as the sole owner. Depending on the lender, this will either come in the mail or through electronic means. No matter where you live, it would be best to get a written notice when you make your final payment. This way, you can be sure you are going about it correctly when you make your final payment. The best way to do this is to go to your state DMV's website and see the steps to get a new title. Every state has its own set of rules and regulations, and you should know what the requirements are for where you live. Generally, the process for getting a new title for your vehicle will change from state to state. Knowing how to go about this will make the whole thing easier when the time comes. However, depending on the circumstances, you may have to go through a longer or more complex process to get the duplicate title and remove the lender's name. ![]() That allows you to do whatever you want with the vehicle, including selling it, should that be something you are considering doing. How to Get Your New Title After Paying Off a Loan:Īfter you pay off your auto loan, you must get a new title to ensure you are the only listed owner.
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