A car lien is a legal claim on a vehicle that protects lenders’ money. It happens when you get a car title loan or finance a car purchase. The lender gets a legal right to the vehicle until you pay off the debt. Knowing about a lien on a car is key to understanding car financing...
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.
What is a lien release? A lien release removes the lien claim once the loan is paid off in full. When you pay off your loan and fulfill all other aspects of your agreement, your lender will “release” the lien and sign over the title to you. Once this is complete, the car is you...
Bankrate’s insurance editorial team is here to help you understand what car insurance is and how it works so you can choose the right policy for your needs. What is car insurance? Car insurance is a way to protect yourself financially if you are involved in a car accident or suffer a...
What is a lien on a car? First things first, let’s understand what alienis. In simple terms, a lien is a legal claim over something of value. When you take out a loan to buy a car, the lender receives a lien on the vehicle — this allows them to repossess it if you don't ...
A secured loan is a type of debt that requires collateral, such as a car or investment account. Mortgages, auto loans and secured personal loans are all secured loans.
How to Read a Car Title? 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 manufac...
If you’re applying online, possibly a photo of your car’s odometer reading. You may also be asked by your refinance lender to sign a limited power of attorney, enabling it to modify your vehicle title and add itself as lienholder. » MORE: Auto loan ...
What exactly is full coverage car insurance? Bankrate explains.Full coverage car insurance typically includes comprehensive and collision coverage.
Liens and other financial claims have become more prevalent these days as a result of recent economic circumstances. Here’s a look at what is a lien.