post loan paid off question
03-18-2009, 11:21 AM
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post loan paid off question
I have paid off the loan in full. I was told that I need to go to DMV and change the title to my time. I was also informed of "unearned insurance premium" but that is unnecessary right now. Is there anything else for me to do?
Thanks
Thanks
Last edited by smoothguju; 03-18-2009 at 11:23 AM. Reason: spell check
03-18-2009, 12:49 PM
#2
Where are you located? I just paid mine off too, and here are the directions from the CA DMV website:
http://dmv.ca.gov/vr/vr_info.htm
Requirements after paying off your car loan.
After you pay off your loan, the lienholder will sign the title and mail it to you. If the lienholder is in DMV’s Electronic Lien and Title Program (ELT), the title will be automatically mailed to you. The ELT is a voluntary program for lienholders that provides the lienholder with an electronic (paperless) certificate of title in lieu of a paper title.
Submit your title to DMV within 30 days to remove the lienholder's name, and DMV will issue a new title in your name. There is a transfer fee to remove or change a legal owner. (The mailing address is listed below.)
If the title is lost, an Application for Duplicate Title (REG 227) (PDF) must be completed and signed. When an application for duplicate title is used, the legal owner's signature must be notarized. There is a fee for the duplicate title. If you have difficulty locating your lienholder (bank, credit union, or financial/lending institution) to obtain a release, try our Listing of Financial Institution.
You may mail the title with a check or money order for the transfer fee or the REG 227 with a check or money order for transfer fee, plus the duplicate title fee to:
Department of Motor Vehicles
Registration Operations
P.O. Box 942869
Sacramento, CA 94269-0001
Additional information regarding change of legal owner or lienholder release.
Additional information regarding the Financial Institution Listing.
http://dmv.ca.gov/vr/vr_info.htm
Requirements after paying off your car loan.
After you pay off your loan, the lienholder will sign the title and mail it to you. If the lienholder is in DMV’s Electronic Lien and Title Program (ELT), the title will be automatically mailed to you. The ELT is a voluntary program for lienholders that provides the lienholder with an electronic (paperless) certificate of title in lieu of a paper title.
Submit your title to DMV within 30 days to remove the lienholder's name, and DMV will issue a new title in your name. There is a transfer fee to remove or change a legal owner. (The mailing address is listed below.)
If the title is lost, an Application for Duplicate Title (REG 227) (PDF) must be completed and signed. When an application for duplicate title is used, the legal owner's signature must be notarized. There is a fee for the duplicate title. If you have difficulty locating your lienholder (bank, credit union, or financial/lending institution) to obtain a release, try our Listing of Financial Institution.
You may mail the title with a check or money order for the transfer fee or the REG 227 with a check or money order for transfer fee, plus the duplicate title fee to:
Department of Motor Vehicles
Registration Operations
P.O. Box 942869
Sacramento, CA 94269-0001
Additional information regarding change of legal owner or lienholder release.
Additional information regarding the Financial Institution Listing.
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