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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 ...
In 1956, the United States, Canada, and Mexico came to an agreement with the American Association of Motor Vehicle Administrators, the Automobile Manufacturers Association and the National Safety Council that standardized the size for license plates for vehicles (except those for motorcycles) at 6 inches (15 cm) in height by 12 inches (30 cm) in width, with standardized mounting holes. [3]
Sometimes, signing over a car title can be more difficult, especially if the vehicle belongs to deceased owners or there's a lien on the vehicle. Here are a few unique situations: Signing Over a ...
Car title loans are a convenient way to get fast cash if you own your vehicle outright. These loans aren't without risk, though, as they use your vehicle as collateral and come with steep ...
Drivers who do not carry car insurance cannot take advantage of Michigan’s mini-tort law, which would allow them to recoup up to $3,000 from the at-fault driver to cover vehicle damage.