Lien sales for unpaid debts on a property can result in the amount owed increasing further. When the lien debt is sold, usually by a local government agency, the buyer can employ a lien servicing company that may add more fees and interest to the lien. This allows the buyer to see a r...
When you take out a loan for the purchase of a new vehicle, the lender puts a lien on the certificate of title for the vehicle. This keeps the car, truck or SUV under legal ownership of the lender until the amount due is paid in full. But all too often, a borrower decides to sell...
You can still sell your car, even if you haven’t paid off your car loan. Here’s how to sell a car with a lien.
A car title is an official document that shows the legal ownership of the vehicle. Learn how to get a title for a used or brand new car.
How to Sign Over a Car Title with a Loan Transferring ownership is straightforward when only one name is on the title, but in many cases, a seller may have an outstanding loan on their vehicle, which means the lienholder or lending institution are listed on the title as having ownership ...
1. Does Your Car Have Negative Equity? Negative equity is when the outstanding loan amount on your vehicle is greater than its value. A common phrase you may hear is that someone is “upside down” on their loan, meaning they have negative equity. For example, if you purchased a car fo...
Check for any liens on the car before starting the transfer process. Be patient and prepared for the process to take some time. Summary Transferring a car title can be a complex process, and the time it takes can vary depending on several factors. To ensure a smooth transfer, understand yo...
If you need to break a lease on a car, it can be costly and difficult. Thankfully, there are other options. Transferring a lease is one option, you can buy your car outright or trade it in for a brand-new lease.In this post, we review the options if you want to break your ...
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 When Buying From a Dealership If you buy a new or used car from a dealership, ...
If you can swing it, paying for your used vehicle in full has advantages. First, no interest, which means you'll pay less for the vehicle in total. 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...