Understanding a lien on a car means exploring the complex world of vehicle ownership. A lien is a legal claim a creditor has on a vehicle. It’s used as security for a debt. When you finance a car, the lender gets a legal right to it until you pay off the loan. About 20-30% of...
Vehicle identification numbers explained How to find a VIN How to decode a VIN Why you might need your VIN How a car insurance company uses your VIN Frequently asked questions You may also like What is a lienholder? Car Insurance By Cynthia Paez Bowman 6 min read What is an...
The lienholder signing a release document indicating you’ve met the terms of the agreement. The document getting sent to your state’s department of motor vehicles (DMV) for processing and review. If everything is correct, the DMV transferring the vehicle title to you. Congratulations — you...
A lien release is when the lienholder formally gives up their claim to the vehicle’s title. It lets the car be bought or sold without strings attached. You’ll likely receive a lien release once you’ve paid off your car loan in full. There are some circumstances, however, where you’...
The design of vehicle titles varies a little according to the state where the vehicle is titled, but in general, the front shows: the owner’s name and address; any lienholder’s identifying information (such as a bank loan for purchase); the vehicle’s manufacturer; the vehicle’s year ...
A lien is a legal claim against assets that may be used as collateral in order to repay a debt. Learn how liens work and how to remove them.
When you’re looking for the power steering fluid under the hood, check the passenger side of the vehicle, and you should be able to spot the reservoir. The power steering fluid is usually in a white or yellow container with a black cap labeled “power steering” or “steering fluid.”[...
A lien is a legal claim or a "hold" on some type of property, whether personal or real property, making it collateral against money or services owed to another person or entity. Liens usually exist in situations such as second mortgages, loans against vehicle titles or money loaned against ...
A lien is a legal claim or a "hold" on some type of property, whether personal or real property, making it collateral against money or services owed to another person or entity. Liens usually exist in situations such as second mortgages, loans against vehicle titles or money loaned against ...
However, outside of state-required levels of liability, carrying higher liability limits and maintaining a full coverage policy can help avoid the financial burden of paying for vehicle damage out of pocket. While home insurance is not required by law, it’s beneficial to carry for the same ...