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Buying a new car later on: If you plan on waiting a while before purchasing a new vehicle but frequently borrow someone else’s car, you could consider a non-owner car insurance policy. This kind ...
Selling your vehicle: When you no longer need to insure a car because you have sold it, you can contact your insurance company for the steps necessary to cancel your policy. Your vehicle’s buyer ...
What is a car lien? And how will it affect your car sale.
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and 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 ...
The lien may be satisfied by selling the vehicle through the lien sale process. To conduct a lien sale, the person/lienholder must have possession of the vehicle and may require lien sale authorization from the State's Department of Motor Vehicles, depending on the State and or value of the vehicle. Interested parties, including the registered ...
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