2006-12-27 10:37:40 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
I bought out my lease. The finance company sent me the title and told me to put it in my name so technically don't I own the car? Now the Certificate of Title is in my name and not the auto finance company's name like it used to be. I've never done this so I always thought that they don't send the Certificate of Title until the car has been paid off completely
2006-12-27 10:45:22 · update #1
You still have to pay for a licence and registration for the car and sometimes taxes, but if your the only one on the title and no one has a lien on it, then yes.
2006-12-27 10:46:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Once you pay the finance comp. off, they give you your paperwork, which you take to your local DMV office and file for the title to come back solely in your name. You should not have to do anythings with your tags.
2006-12-27 18:58:39 · answer #2 · answered by mstow_n_repo 2 · 0⤊ 0⤋
You will have to pay tax on the buy-out amount to the State. Then they will change the name on the title to you.
2006-12-27 18:47:42 · answer #3 · answered by Steve P 5 · 0⤊ 0⤋
If you owe any money on the vehicle, there will be a lien on the title. Otherwise, you own it free and clear.
2006-12-27 18:43:09 · answer #4 · answered by cindy c 1 · 0⤊ 0⤋
Yes I would believe the car is free and clear. Good job paying it off early. Congratulations.
2006-12-27 18:47:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you are the sole person listed on the title (Pink slip) and if there is no lienholder referenced on the title, then yes, you own it free and clear.
2006-12-27 18:42:43 · answer #6 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
Onll if there is no money owing on it, if you bought it cash yes she;s all ur's. but if u owe the bank wether its in ur name or not they can take it away if you dont keep up the payments.
2006-12-27 18:39:52 · answer #7 · answered by yahwhoon 4 · 0⤊ 0⤋
Not if there is a lien.......if not than yes you do!
2006-12-27 18:39:57 · answer #8 · answered by justmedrt 6 · 1⤊ 0⤋