Ok, so I paid off my loan and they said they sent out the title. The question I have is, she said something about needing to go to the DMV to get a clean title cert. or something?? I thought once I got the title I could sign it and sell the car? That's what I did when I paid off my other car....got the title and signed it and gave it to the guy that bought it. I didn't go to the DMV at all after I got the title. What gives??

 

I think you just need to change the name on the title back to yours at the DMV and after what you can do whatever you want with the car.

 

So I won't have to wait for anything sent to me from the DMV right? They can just change it in their computer then?

 

Your title probably shows who's the lean holder that provided your to loan. So once you get it, some people take it to a DMV to have the leanholder's name removed, so the title will say no lean holder. But I think you are not required to do that, as long as you can provide proof that your obligation to the lean holder has been satisfied. The lean holder should send you some document or a letter stating you had paid off the loan.

 

Cool! Thanks for the info! I'm planning on selling my car to Carmax as soon as I get the title since I haven't had any bites selling it on my own. Just wanted to make sure I wouldn't have to wait for anything else after I get it since I only have 7 days after the appraisal.

 

I sold a car in September, and the original loan had been paid off for three years. I had a tragic shredder accident with the title and release of lien sent to me by the lien holder. When I went to obtain a duplicate title, I had to provide a notarized letter from the original lien holder stating the loan was paid, and they have released the lien. The DMV clerk told me you have to provide a notarized letter to the DVM to obtain a clear title, and I would have been required to show the notarized letter releasing the lien to transfer the title to a new owner.

So, I think you will need some type of notarized letter from your lien holder to obtain a clear title.

This was in Texas, so your state's mileage may vary.

 

JUST got off the phone with my credit union, paying off my G. They said they would electronically notify the California DMV of the payoff and the DMV would be sending me a title. Saves me a trip to AAA to get a clean title. I can't remember the last time I had to go to the real DMV for something other than my license. Bless the AAA.

 

I hope that you have better luck with CarMax than I did. They offered me $4K under Kelley Blue Book excellent for a car that's in perfect condition. Apparently they don't want any RWD cars in the winter in MD.

 

rightnow is not a good time to sell RWD sports cars in states with real winters.. whether its private or to dealership (carmax included).

wait till spring/summer i think u can get a much better deal!

 

you need it to get a clear title in your name .... this is the proper way to release interest of vehicle to you. this is for cali...

 

Yeah, I know it's not the best time to sell a sports car, but there are many things driving this. Need to pay off bills is #1, it's still '06 and I have an '05 so it doesn't look too old yet, By the time spring/summer is here the car will be worth even less, and finally the new '08's will be out soon after that and the cars value will go way down, so I'm trying to get as much as possible even if it's not the best time to sell or the highest $ I can get. In case anyone is wondering...Carmax in Columbus, OH offered $25000 for my car.

Thanks for the help!

Brian

 

in my experience, they will send you a title once it is paid. sign the title and sell.