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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Car Lien/Title Question
We just paid off our car loan in full, and will be selling it privately to a friend of the family.
Our loan was through GM Financial, and we just paid the pay-off amount. We called GM Financial, and they said that they'll submit the release form to the NYS DMV, and that they no longer send out an official title, as it's now electronic?
Has anyone gone through this recently, and can give me a cliff's notes version of it? Just want to know how quickly we can obtain the title so we can hand it over to the other person.
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Posted 4/25/12 11:13 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Jenn627
Laaaaaaaambert!
Member since 5/08 9818 total posts
Name:
Jenn
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Re: Car Lien/Title Question
Typically GM would send YOU a lien release and you could give your title and the lien release to the buyers...
Call GM back and ask them to send you a lien release.
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| Posted 4/25/12 2:48 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Re: Car Lien/Title Question
You can use the title that you have and they bank notifies DMV that the lien has been lifted.
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| Posted 4/25/12 2:49 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: Car Lien/Title Question
When we paid off my car we got a lien release letter from the company that you can give, along with the title. It was a MV-901 letter.
I wanted a title that had that lienholder taken off and I submitted that letter, my title, and a check for $20 to the DMV in NYS and I got my new title back within 2 wks.
Not sure how it works if they don't send you the lien release letter though. I would assume you just have to sign & notarize your signature on the back of the title and the new owners will have to have DMV run it.
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| Posted 4/25/12 3:07 PM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: Car Lien/Title Question
Posted by MrsPJB2007
When we paid off my car we got a lien release letter from the company that you can give, along with the title. It was a MV-901 letter.
I wanted a title that had that lienholder taken off and I submitted that letter, my title, and a check for $20 to the DMV in NYS and I got my new title back within 2 wks.
Not sure how it works if they don't send you the lien release letter though. I would assume you just have to sign & notarize your signature on the back of the title and the new owners will have to have DMV run it.
That's exactly how I understand the process works. Request the lien release letter from the company that you financed the car with and submit it to the DMV with the appropriate form and fee to receive the new title, which you will later sign over to the new owner.
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| Posted 4/25/12 3:21 PM |
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dani731
Blessed!!!
Member since 1/08 3355 total posts
Name:
D
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Re: Car Lien/Title Question
I think what they were telling you is that they no longer send the lien release letter because the DMV is notified electronically that the lien has been released. So you would just need to verify with DMV that the lien was released and then you can request and pay for a new title.
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| Posted 4/25/12 10:24 PM |
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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Re: Car Lien/Title Question
Posted by dani731
I think what they were telling you is that they no longer send the lien release letter because the DMV is notified electronically that the lien has been released. So you would just need to verify with DMV that the lien was released and then you can request and pay for a new title.
Thank you so much; I'm pretty sure this is what they meant! It was so confusing b/c the rep I spoke to kept putting me on hold, confirming with someone else, and then coming back with different things!
I'm going to give another call to GM tomorrow and even call the DMV to get the scoop.
Thanks so much everyone!
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| Posted 4/25/12 11:41 PM |
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