Saturday 24 September 2011

How do you get a car changed over into your name if you are still paying on it?

I want a car changed over in my name, how would I do it?How do you get a car changed over into your name if you are still paying on it?The bank will need to put the title completely into the ownership of the FIRST OWNER (S). This requires paying off the car.

An exception might be if the car was RE-financed, and the loan started over again with new payments and new interest.

Another exception might be a divorce case, then your lawyer would handle the details. Or a divorce paper could include a clause that when the car is paid off by %26quot;JOE%26quot;, it must be immediately signed over to %26quot;MARY%26quot;.
How do you get a car changed over into your name if you are still paying on it?
you can not unless you pay it off! if someone says different they either are lying or have no clue!
How do you get a car changed over into your name if you are still paying on it?
Where I live, you can't. The lender will always have a lien on the title. A lien is where the lenders name is also on the title. This is in case you decide to stop making payments on the car. The lender can then take possession (repossess) the car.



Also, if you want to sell the car with a lien on the title, you must fully pay the balance of the loan to have the lien removed from the title.



The only way to get your name only on the title and have the lien removed is to fully pay the balance of the loan.



The state will not release the title until they receive confirmation from the lender that the balance of the loan has been fully paid. The state then sends you a clear title with your name only on it.
You can't until you pay it off. As far as the govt. is concerned the finance company paid for the full price of the car, and is therefore the owner in full. That is why you have to have full coverage on a financed car until it is paid off, because you are basically driving someone else's car all the time.(as far as they're concerned)
You pay off the loan in order for the lienholder (the lender) to release the lien on the vehicle. If it isn't paid for, the lender still owns it and they are not going to release the lien.

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