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There are two ways to buy a car that has a loan that still has a loan on it, and thus a lien. You can pay off the loan balance yourself by writing a check directly to the lender, or you can ask ...
What is a car lien? And how will it affect your car sale.
Second, no lien on your vehicle that you'll need to get cleared when you eventually go to sell. It's also a lot easier to pay cash when buying from a private party, as you don't need to get a bank ...
In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan. Car title loans frequently involve high interest rates, a short time to repay the loan (often 30 days), and a loan amount less than the car's monetary worth. The borrower also risks losing the ...
For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some ...
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [2]