I have a guy coming to buy my car from Ohio. I have one issue. I almost distinctly remember getting a new title stating the original loan was paid off but not 100% positive. In my title file of all our cars, I can only find the title that says their’s a lien on it, but I also have the original payoff notice from the financial institution for when the car was paid in full.
Is this sufiicient to sell the car, or do I have to have a title that states it has no liens recorded? The car has been paid off for amost 3 years if that matters.
DMV website wasn’t much help
thanks in advance
It maybe. You don’t need the title to not have a lean on it you just need the “Lean Release” from the bank. All the ones I’ve gotten are a letter on official Bank Letterhead stating the loan has been paid in full and the bank no longer has any interest/lien on the vehicle.
All you need is the letter stating that it was paid off, no need to purchase a new title.
Get them to fax you the lien letter.
I actually have two liens on my car, with two lien letters.
The previous owner couldn’t get the letter to me on time, but I spoke to GMAC, and they said it was in the mail so I bought the car, and retitled it with the lien.
Now I have paperwork from GMAC and my credit union that I will give when I sell the car.
Perfect. I have the lien release letter on official letterhead.
Thanks guys.