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What happens once I pay off my car loan?
I am just two payments away from being done with my car loan. What happens after I pay it off?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Once you’ve paid off your car loan, you should request a
lien
release from the lender. This document shows that you’ve satisfied your financial obligations and that the lender no longer has a legal right to the vehicle. Once you get the lien release, follow your state’s laws and regulations to get a new title and registration for the vehicle — ones that no longer have the lienholder’s information on it.
“
View full answer
- Gregory R.
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