If so do you have a copy of the title to verify that you are the owner?
2006-12-10 11:52:27 · 11 answers · asked by mpact33 1 in Business & Finance ➔ Credit
The bank holds the title and you are the registered owner. The lien holder is named on the registration and your insurance policy, along with you.
You don't get a copy of the title. You get a vehicle registration card.
2006-12-10 12:01:54 · answer #1 · answered by Phil H 2 · 0⤊ 0⤋
That depends on what state you are in...some states consider you the owner and issue you a title with the lein applied. You can't sell the car until you have satisfied the loan. Some states only send titles to the leinholder so they can give it to you when you finish paying for it. As for proving you are the owner when your bank has the title, that's what your loan papers are for. Just don't keep them in the car, someplace safe so you will have them if you need them.
2006-12-10 11:58:44 · answer #2 · answered by jay_fox_rok_god 3 · 0⤊ 0⤋
The financial lender will hold the title until the car is paid off. I think technically you are not the owner, the bank it is. Your registration and insurance (if in your name) can prove to others that it is your car.
2006-12-10 12:01:27 · answer #3 · answered by cj1262 1 · 0⤊ 0⤋
The bank holds the title until it is paid off. You own the bill of sale, to prove you bought the car.
2006-12-10 12:00:45 · answer #4 · answered by drgnotary 3 · 0⤊ 0⤋
Depends on the state and your lending institution. In some states, the bank holds onto it. If you are buying from a company that finances the cars, the company holds onto it. In those states, the company gives you paperwork you can take to the BMV so you can get your plates.
2006-12-10 12:46:28 · answer #5 · answered by Mariposa 7 · 0⤊ 0⤋
You get a copy of the "pinks" but on it, it will say what financial institution has a "Lien" on it. Once the loan is paid off, the bank will send you a letter stating that the lien has been removed.
2006-12-10 12:00:29 · answer #6 · answered by F T 5 · 0⤊ 0⤋
yes, you do have the title and will say the name of the bank as a lien holder
2006-12-10 12:41:55 · answer #7 · answered by Wael 3 · 0⤊ 0⤋
yes and no. The bank will mail you the title when you pay off the loan.
2006-12-10 11:59:31 · answer #8 · answered by Ben B 3 · 0⤊ 0⤋
The broking grew to become into basically performing as a "financial business enterprise teller" and did the place of work work. you're tied to the financial business enterprise. as quickly as the basically good charge has been made the financial business enterprise will authorize the broking to launch the identify. yet not till the financial business enterprise is satisfied that they have got been given their money. in maximum circumstances it is the way it is going.
2016-10-14 10:26:14 · answer #9 · answered by ? 4 · 0⤊ 0⤋
of course, untill you pay off balance, then bank will send you title that car is belong to you. you are not really owner yet.
2006-12-10 12:42:20 · answer #10 · answered by Gary 2 · 0⤊ 0⤋