riddle me this..... car title/lien issue

Being the baller I am, Ive only paid cash, no loans, for all my vehicles. And as it looks, I sold my Range tonight. I take a gander at my title and there is a lien on it from M&T, which I did not use, nor have I ever used.

So, long story short. Can I take my title to an m&t, ask for a lien release, or do I go to the dmv and try and sort stuff out.

No lien was ever used, I didnt get one when I bought it, I titled and registered it fine, and when it came in the mail, I didnt even look, just sorted it with my files.

Someone else’s $.02 would be sweet

When you bought the truck, did you look at the title to see if there was a lien on it?

yes, m&t will give you a lien release IF the previous owner doesnt owe them any money.

and +1 to you for on buying in cash. but I hope you have other things that are building your credit…

just go to m&t and ask them

nyspeed>m&t. duh

the next owner can still reg the car as you did. i did the same thing but i knew there was a lien on the title. as long as theres no money owed. best bet is to go to the bank and ask for a lean release

Its hard to remember on my end, but, Im fairly certain the dmv would have caught that.

I feel like im in some sort of loophole.

you can buy/sell a vehicle with a lien on it. the dmv doesnt care, they just transfer the lien onto the new title.

a 3500 sq home

now that scares me

I’ve dealt with it. I had to fax front and back of my title to the branch the lien was from, anwser a bunch of questions per phone, and they mailed me a release. Then the car became a race car, total waste of time haha.

if you have the cash to buy vehicles/other stuff without credit, what do you need to worry about keeping up a credit score?

all a credit score is, is a debt score.

Brian

because idk about you, but I dont want to save up 100k+ to buy a house outright.

plus car insurance is sometimes based off of credit, some landlords/employers check credit and im sure a few other things go off your credit too.

even financially savvy people utilize credit. buying something at zero percent interest for x number of months allows you to use that money to earn interest in an investment else where. or simply having a credit card on reserve just incase, never a bad thing.

credit is good for those who can manage it.

and jobs check it too.
More so higher ones… Where you actually have to work to get to that position, only to be denied by a poor credit choice 5 years ago :S
Ouch.

opportunity cost. Why have hundreds of thousands sitting in owning a home outright when you can pay 4.x% on it and tax-deduct the interest?

some rich people have mortgages just to have somewhere to spend their money; they can deduct the interest, as joe said, and typically over the long run houses appreciate in value.

i didnt mean houses. just most everything else other than houses.

brian

because insurance is based partially on credit scores, as well as many other things

the benefits of paying cash for everything far outweigh the negatives.

ill be completely debt free in few years including my mortgage and i sure as hell wont be going back.

Brian

spoke to the previous owner, bought it from land rover amherst and financed through them, and was paid off in 3 years - no M&T at all.

Must be a dmv mixup.

bitches