this may be a silly question, but has any1 here finished financing a car from acura/honda? i just recieve my lien release. what do i do with it and are they suppose to send me my title?
the car is from DCH montclair NJ, but the car is register in NY.

 

it varies from state to state. contact AHFS for exact info.

 

The title should be mailed to your home on or about the same time.

 

in some states like minnesota, you get the title but the lien holder is listed, when you get your release of lien letter, you just keep it with your title and both are presented at the time of sale.....the new owner must preset both documents in order to title the car in their name

 

Send The ORGINAL letter and the title to NY state DMV with 20 dollars, they will then remove the lien holder from the title and send you a title.

Dont wait until you go and sell it to take care of this, because it can cause delays and aggravation to both you the seller and the buyer.

Also, doesnt matter where the car was purchased from. It just matters where your car is registered.

 

in most states you take the banks lien release paper and currect registration paper to the motor vehicles dept- for 15-20 bucks they make a new reg paper with you as `LEGAL owner` with ability to sell if desired on own signature of release to buyer,
and it will also show you same as it does now- the `registered to` the person for cops to expect to be driving it- their computer knows everything when they make a stop, so they have a name that goes with the car- if someone else is driving it they make sure its not stolen and you dont know it yet!

 

NY is not a title holding state. Meaning, when the bank owns the car, you hold the title, but a lien is printed on it. Where as in NJ, the bank holds the title. All the Lein release is, shows that your loan is paid off and they no longer have an interest in it. You could take the release, along with the title with the lein on it, go to the DMV, and they will process a new title minus a lien. Or, you can staple it to the title, and whenever you sell it, the lien will not be printed on the new owners title, as long as the paper is attached. Hope this helps.

 

http://www.nydmv.state.ny.us/regtitle.htm#lien

 

When I finished paying off my loan (thru Honda/acura finance) I received a letter indicating lien release. In a separate mailing they sent me the title (stamped by them lien release and the date)

 

Thks for all the info guys.
i had to dug up my title w/lien (that i didnt even realized i had..lol !)
guess i just need to send that in with the lien release and 20$ to dmv.

 

cant wait for this day.... got 1 more year of payment