Buying vehicle(s) with liens on title ?

diehardbiker said:
Then why ask me why I leave lien on my title even long after it was paid off. I don't see reason to do anything because I am not selling old reliable Cherokee.
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that's why we asked you to understand why!!!!!!! if you said why bother because you're not gonna sell it anyway in the first place... then we understand but you didn't.... which was why Tousi asked you.

wow you surely are one difficult confused fella.
 
Now I get it where you are talking about.

My question, am I planning to sell my Cherokee? My Answer is No, then to answer your question, whats point of taking Lien off if not planning to sell, and I still have the official letter from the bank that I no longer owe a penny to them on my Cherokee?


Tousi said:
Why in the world does your bank still have a lien on your Cherokee since you say it has been paid off 7 years ago? Is it because you offered the Cherokee as collateral for something else you made a loan for?
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diehardbiker said:
Now I get it where you are talking about.

My question, am I planning to sell my Cherokee? My Answer is No, then to answer your question, whats point of taking Lien off if not planning to sell, and still have the official letter from the bank that I no longer owe a penny to them?
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wow there we go!!!!!!! finally!!!!!!! now you get it!!!

Clapping-gif.gif


now I'm gonna take a quick nap :lol:
 
I guess it's different and more simple here. I've never experienced all that rigamarole.

If the car is paid off or was bought for cash, the car owner has physical possession of the title. The seller signs and dates the back of the title and turns it over to the buyer. The buyer takes it to DMV and registers the car.

If there is a lien on the car, then the lender has physical possession of the title. The owner can't sell the car because he doesn't have the title in hand.
 
diehardbiker said:
Im tired of DMV raking up money, so Im making them wait before they get money for my Jeep, or perhaps NEVER :-D.
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In my state, you can remove the lien on title at no charge after you pay all loan off or satisfy the creditor's requirement.
 
Basically, you can sell the car to someone but the person would have to refinance the loan under their name and the name of the person would be still you. It is hard to trust someone paying for the loan. It's better off to keep paying for the loan until it's paid for and you get the title in your hands and you can do whatever you want with it.
 
Oh yes, I can legally drive cause I am the 100% owner, period. Didn't you miss that I mentioned I just renewed registration on Cherokee a month ago. Renewed every 2 years, been like that since I bought this CHerokee.

Tousi said:
Meaning that, in the meantime, you cannot legally drive it, right?
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Know what? I just sold Cherokee. It was tough decision I had to make. Yes, it still has lien on my title. NYS DMV was so easy on it. I bought another car with lien on title along with letter of lien satisfactory from the bank that the previous owner gave to me. I walked up to DMV, no hitch no BS no nothing, and best of all, he didn't pay a penny to remove lien from title. It goes straight to the system.

The real reason for selling is heater no longer works. The problem is heater core and too much rust on it, need 4 new tires, brake is at point of need replacement. I decided not to spend any more money. Now I have newer car paid in cash.

I wish I don't have to sell Cherokee, had it for 11.5 years and it was the best car I ever owned. Move on, I guess.
 
If you don't have a title with your name on it, no matter how youre buying it, No Insurance Company will insure it for you in your name since you don't own it.
 
Maybe for your state, but not here in NYS. You can, pretty much. For instance, my wife... BEFORE married were able to get Insurance coverage for her Jeep Cherokee that I owned it, not her. And the name on Cherokee bears my name not my wife. Yet she was able to insure my Cherokee.

sonocativo said:
If you don't have a title with your name on it, no matter how youre buying it, No Insurance Company will insure it for you in your name since you don't own it.
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I finally paid off the car loan last June. However I didn't get the title after that so in July I called my credit union and asked about my title. I was told that I should get it within 10 days. It didn't happen so I called again last month and my message was forwarded to the rep who handles it. Still nothing. Oh man, I had to call again this month to ask for my title. At last I got it by mail several days ago.

Then I noticed the rep's signature on the title but she didn't write down the release date so I called to find out why. Interestingly she explained that she didn't write it down because if I don't bring it to DMV within 10 days, I will be charged for a penalty fee. She asked if I want her to write it down, I need to mail it back to her. Hell no so I asked if I can write it down myself instead, she said yes, I can.

I will bring my title to DMV tomorrow to have the lien removed. If they charge me for that service, I will let you know.
 
Gee, California is raking up money, sad. NYS is very lenient on this part. NYS DMV is the oldest DMV, yes NYS is the first state start DMV, then copycats all over the states. I paid off Jeep Cherokee almost 8 years ago, never had issue with DMV having lien on my title EVEN almost 8 years after paid off. I pah sold my Cherokee last Friday, no issue at all. Just gave the buyer the release of lien from the bank.
 
diehardbiker said:
Gee, California is raking up money, sad. NYS is very lenient on this part. NYS DMV is the oldest DMV, yes NYS is the first state start DMV, then copycats all over the states. I paid off Jeep Cherokee almost 8 years ago, never had issue with DMV having lien on my title EVEN almost 8 years after paid off. I pah sold my Cherokee last Friday, no issue at all. Just gave the buyer the release of lien from the bank.
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NYS DMV - Vehicle Registration - Title Certificates and Vehicle Ownership

There is a fee of $20 to remove a lien from a NYS title certificate.
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However it doesn't mention a deadline.
 
Right! Its not a requirement. For NYS, either pay 20 dollars fee to remove lien from your vehicle title and sell to somebody, >OR< hand to the seller the title with lien holder printed on them along with letter of release of lien from the Bank, there is no fee so which way is cheaper? It is no brainer here. Only idiots would dump 20 dollars where they could do other way for free. I don't know the rest of 48 states DMV regulation.

BTW, I know for sure because last week I bought and sold vehicle and had to deal with DMV directly due to the fact that the buyer and seller are private, no dealer involved. If I had issue with DMV I would have know by now, but I didn't have any issue and didn't lose a penny over Lien holder issues. I just pay taxes and title transfer fee, that is it. The registration fee were already paid for last July, and since my new vehicle is about half ton lighter than the previous vehicle I owned. Registration fee is based on vehicle weight. Plates (some states called them tag which means same thing) remain the same, so no plates fee. I had that same plates for 13 years, I think.

CrazyPaul said:
However it doesn't mention a deadline.
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diehardbiker said:
Right! Its not a requirement. For NYS, either pay 20 dollars fee to remove lien from your vehicle title and sell to somebody, >OR< hand to the seller the title with lien holder printed on them along with letter of release of lien from the Bank, there is no fee so which way is cheaper? It is no brainer here. Only idiots would dump 20 dollars where they could do other way for free. I don't know the rest of 48 states DMV regulation.
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You mean buyer? Anyway I bet the buyer paid $20 for a transfer fee. No question.

diehardbiker said:
BTW, I know for sure because last week I bought and sold vehicle and had to deal with DMV directly due to the fact that the buyer and seller are private, no dealer involved. If I had issue with DMV I would have know by now, but I didn't have any issue and didn't lose a penny over Lien holder issues. I just pay taxes and title transfer fee, that is it. Plates (some states called them tag which means same thing) remain the same, so no plates fee. I had that same plates for 13 years, I think.
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There is a fee of $20 to remove a lien from a NYS title certificate.
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That's a transfer fee (from old ownership to new ownership - either from lienholder to registered owner or seller to buyer). No question.

BTW, I just found out that a transfer fee in my state is $15, $5 less than NYS which is raking up money obviously. No question.
 
Re-read my post, let me rephrase. I was a buyer and seller too. Two separate vehicles! Wake up! I don't sell and gone without vehicle? I did not pay a penny to remove lien from my title AT ALL, and I bought a vehicle with title that got damn lien on it along with letter of release lien, did I pay 20 dollars? Nope, nada zip nana whatever you understand.

I sold my Cherokee with lien on it.
I bought Ford Sedan with lien on it

Understand?

CrazyPaul said:
You mean buyer? Anyway I bet the buyer paid $20 for a transfer fee. No question.


That's a transfer fee (from old ownership to new ownership - either from lienholder to registered owner or seller to buyer). No question.

BTW, I just found out that a transfer fee in my state is $15, $5 less than NYS which is raking up money obviously. No question.
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diehardbiker said:
Re-read my post, let me rephrase. I was a buyer and seller too. Two separate vehicles! Wake up! I don't sell and gone without vehicle? I did not pay a penny to remove lien from my title AT ALL, and I bought a vehicle with title that got damn lien on it along with letter of release lien, did I pay 20 dollars? Nope, nada zip nana whatever you understand.

I sold my Cherokee with lien on it.
I bought Ford Sedan with lien on it

Understand?
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Whatever!
 
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