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?

“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. “
Eric Schad
Answered on Apr 07, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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