How to Get My Car Title After Paying Off Loan

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You did it–you stayed on top of all your loan payments and just made the last one ever. Now what? The question you may be wondering is, “How do I get my car title back after paying off my loan?” Fortunately, it may not take as long as you think, and here we’ll break down what you can expect next, how to get your title, and how Max Cash Title Loans can help you unlock the equity in your car, even after your loan is paid.2 5

Whether your prior loan experience was positive or negative, Max Cash Title Loans is different from the rest of the pack because we’re not a lender, but instead work closely with some of the best title loan lenders in the industry, and we handpick them to meet your unique financial situation for flexible, competitive rates–for any purpose you want to use the money for!4 5

What Happens When You Pay Off Your Car Loan?

When you make your last payment to the title loan company, you officially own your car again–congratulations! But there’s still several steps that you need to follow next to prove your ownership again. Your lender will often let the Department of Motor Vehicles (DMV) or state equivalent know that the loan has been paid off, if you live in a title-(or non-title) holding-state, which means you’ll have to take it upon yourself to notify the DMV.

Also depending on your state is whether your title can be transferred electronically or not via the electronic lien and title (ELT) system–this can make the process much faster, but if your state doesn’t use it, you’ll have to visit your local DMV (or government agency) office, or mail in the documentation. Either way, inform your state that the vehicle is now yours and you’d like the lien lifted from your car’s title.

It’s important that your address is current with your lender and DMV, or applicable agency, so you don’t miss any necessary paperwork. If your address needs to be updated, be aware that it could take a few days or weeks to show up in the system.

How to Get Title After Paying Off Car

When your car title loan is at a zero balance after you’ve completely repaid it, if you live in a state that requires it, you’ll have to update the status with your local government agency or DMV. Your lender will submit you a lien release which declares the total loan payoff and the title will then be legally yours. At this point, and again, depending on your state, you may need to visit the DMV office or mail it in.

Keep in mind, there’s only eight states in the U.S. that permit the vehicle owner, not the lienholder, to possess the car’s title, otherwise you’ll have to follow the process outlined above. But, if your state allows your lender to use ELT submissions, the wait won’t be as long. If you need your title sooner rather than later, see if same-day or “rush” services are offered, but be prepared to pay a little extra for it.

When Do You Get a Title for a Financed Car?

Typically, when your vehicle is financed, the lender will keep the title until the loan amount is completely paid in full. Once this takes place, then the lien on the title is formally released and the car is legally yours , with your name being added to the title as sole owner.

Again, it comes down to whether you reside in a title-holding or non-holding state. If non-holding, the lender notifies you that the loan is at a zero balance and paid off fair and square, along with a lien release letter. At this point you should take this letter to the local DMV or government agency, as well as the free-and-clear title to receive an updated/current one.

How Do I Get a Lien Removed From a Car Title?

You won’t be able to officially own your car outright until an existing lien is removed, after which you can sell it, or even take out a title loan if facing a financial hardship. Getting a lien taken off the title boils down to three steps:

  1. The first step is to fully pay off your loan and wait for the payment to clear. How exactly long this will take can depend on how you made the last payment and how long it takes to post to your account–if mailed in, it might take longer. It may be a bit of a waiting game for this final payment to reach your lender and post, so be sure to check the status frequently.
  2. Get a formal lien release (paper or electronic) from your lender. Some states, like New York, demand that lenders take care of this in only three business days after the final payment posts and clears. However, you should look into your state’s requirement regarding lien releases and contact your lender directly if you’ve been waiting too long.
  3. Once the lien release is received, file it (unless your state authorizes the ELT system) with the DMV or appropriate agency for a clean title. Depending on your state, you may be required to pay an additional fee with the DMV to have an official clear title.

How Long Does It Take to Get a Vehicle Title?

If there’s one thing that’s consistent across the board with receiving your title back after paying a loan is that the time can vary since each state has different guidelines, and it may take significantly longer if your state doesn’t utilize the ELT system. For the most part, it typically takes from two to six weeks to obtain your title after the paperwork has been submitted and up to ten days for your lender to confirm the loan payoff.

Also, if your state DMV automatically mails out titles, it can take from 15 to 30 business days, but it can sometimes take longer to process. Generally, if it’s been over 10 days with no word from your lender or DMV office, be proactive and follow up with a call to see what the holdup is. Above all else, once you do receive it, keep your car title in a safe place where you can easily access it if needed.

Turn Your Clear Title Into Fast Cash with Max Cash Title Loans!

Once you’ve paid off your car loan and taken all the necessary steps with your lender and DMV, you now have a valuable bargaining chip–a clear title. Your car and the equity built up in it can be used as an asset whenever you need it, particularly if an emergency happens and you need quick funding with no time to deal with the hassle and red tape of some traditional lenders.

If you want the peace of mind that a financial emergency is covered, Max Cash Title Loans is here to eliminate the guesswork of finding the right lender that not only offers a competitive rate, but that fits your financial situation, ultimately getting your the best deal possible, fast and with loan terms that work for you.5 Call (855) 561-5226 and see how your clear title can start working for you today!

A title loan gets you cash while you keep your car!

Why Work with Max Cash Title Loans for a Car Title Loan? 

If you are looking for some extra money through a title loan, start with the experts at Max Cash Title Loan! Here are a few benefits that could come with working with us and the lenders that we work with:

  • Extremely Competitive Interest Rates4
  • Simple Repayment Process4
  • No Prepayment Penalties3
  • Open 7 days a week and during holidays
  • A Fast Process1 2
  • A Safe and Secure Inquiry Process
  • Convenient Monthly Payments4
  • Friendly Customer Service
  • No Hidden Fees3 

How Do I Get Started with Max Cash Title Loans?

The entire application process can be conducted online, or over the phone, and involves just a few simple steps:

1) Fill out An Inquiry Form

The first step is going to involve filling out an inquiry form, which can be done online or over the phone, which only takes a few minutes and requires some basic information about the vehicle, and the applicant. 

2) Talk to a Loan Agent About Eligibility 

Once the inquiry form is filled out, and submitted, a loan agent will get into contact with the applicant, and discuss eligibility. Once eligible, a loan contract will be made up, and terms discussed. 

3) Get Funding1 2

Finally, once the contract is made up, agreed upon, and signed, the funding can be made available!1 2 The funds can be transferred straight into a bank account, made available through a check, or picked up at a local MoneyGram!

Need more information on Max Cash Title Loans? Give us a call 7 days a week or check out our FAQ page

After you make that last payment on your car title loan, you can get your vehicle title back! Most lenders can begin the process right away, and it shouldn’t take too long for them. From here all you have to do is head to your local state DMV for either a title transfer or to request a new duplicate title altogether. Lenders can release the lien in person or something electronically–whatever you choose the process is simple and fast.