Getting a lien lifted from a car that is used

Getting a lien lifted from a car that is used

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  • Mar. 16, 2012 /
  • 2 min read
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    Dear Driving for Dollars, i got myself a motor automobile together with the title finalized down for me. I quickly decided to go to the Department of automobiles to get it registered only to find this has a lien. How can I have it lifted? — Mustang Don

    Dear Mustang Don, when purchasing a car that is used it is always better to have the vendor offer you a page through the loan provider saying that the lien is released, or if the vendor is giving you the name, to check on aided by the DMV first to guarantee there’s no lien.

    Since the vendor offered you aided by the name when it comes to car or truck (presuming the name is legit), odds are the lien happens to be compensated in complete. It simply hasn’t been released correctly. This could be due to a bank error or since it got lost in the shuffle if the bank merged with another bank or went under.

    It’s gonna just take some legwork and potentially many weeks, you could probably ensure you get your issue resolved free of charge or little price. Start with contacting the vendor to see if they can give you any evidence that the automobile loan had been compensated in full, such as for example canceled checks or perhaps a paid-in-full page. Additionally, contact the lien holder and request the paperwork that is appropriate. If the lien owner is really a bank that failed (or perhaps is a subsidiary of just one), the Federal can be contacted by you Deposit Insurance Corp. right to request a lien release. Once you’ve the paperwork you may need, you are able to register it with all the DMV and obtain the motor automobile registered.

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