If your car is financed.... - Page 2

jimhelm · 12-13-2011, 12:52 PM

it's green, if that helps. and duplicates cost $15, but you'll need a lien release letter from the bank you financed it with so they don't send the duplicate to the bank again.

infinite monkey · 12-13-2011, 01:01 PM

This is why I don't deal well with regular life stuff.

Why is everything so freaking complicated?

It's not even my situation and this all makes me go half into an anxiety attack.

jimhelm · 12-13-2011, 01:03 PM

they DO send the title to the owner in Michigan. So you probably got it a month or 3 after you bought the car.

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Name: mich title info pdf_Page_1.jpg
Views: 968
Size: 97.4 KB

here's what you're looking for:

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jimhelm · 12-13-2011, 01:09 PM

Quote:

Originally Posted by monster

Hm, Ford Financing...

800.727.7000

lol

i have that memorized.

monster · 12-13-2011, 01:46 PM

grrrr....

sexobon · 12-13-2011, 03:19 PM

As Jim stated, even if you have an original title (with lien holder) and have paid off the loan, you still need a lien release statement from the finance company in order to sell or junk your vehicles. That can create transaction delays not only if you've lost the lien release; but, even if you have it. The State issued title certificates often have some anti-tampering/counterfeiting devices while the bank issued lien releases are typically just letters that do not. The lien release statement provides convenient information; however, it is easily forged. Buyers may not proceed with a vehicle transfer until the info can be verified with your former finance company. While we're in this period of financial instability with lending institutions merging and collapsing, those records can get lost in the shuffle creating significant delays. That's why I sent my title (with lien holder) and lien release statement in to the State for a corrected title (without the lien holder listed) immediately after the loan was paid off even though it's not required that I ever do so. Now, just the title in my possession is all I need to show that my vehicle is free of encumbrance for immediate transfer of ownership. You may want to do the same with all of your vehicles.

jimhelm · 12-13-2011, 04:53 PM

In NJ a new title will cost you $60.

And they will only take an original lien release letter, or a fax directly to their number from the lender. It would probably pay to call the DMV agency you plan on going to before you call Ford Motor Credit and see what they require. If they will take a fax from Ford, that could save you a bit of time.

fun stuff!

monster · 12-17-2011, 05:32 PM

Well the title cost $20 for an instant copy .....and the copy of the lien release from ford cost $17 and we have to wait for that to be mailed -even though we're pretty damn sure we didn't receive that because apparently is says "take this to your secretary of state and get a new title" and we would have done that because we're like that. We don't lose paperwork until it's acted upon and that was kind of an important step........

thanks all for your help, especially the wonderful jim

12-13-2011, 12:52 PM	#16
jimhelm a beautiful fool Join Date: Sep 2010 Location: 39.939705 Posts: 4,504	it's green, if that helps. and duplicates cost $15, but you'll need a lien release letter from the bank you financed it with so they don't send the duplicate to the bank again. __________________ There's a Shadow just behind me. Shrouding every step I take. Making every promise empty, pointing every finger at me. _tool

12-13-2011, 01:03 PM	#18
jimhelm a beautiful fool Join Date: Sep 2010 Location: 39.939705 Posts: 4,504	they DO send the title to the owner in Michigan. So you probably got it a month or 3 after you bought the car. here's what you're looking for: __________________ There's a Shadow just behind me. Shrouding every step I take. Making every promise empty, pointing every finger at me. _tool

12-13-2011, 01:46 PM	#20
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	grrrr.... __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

12-13-2011, 04:53 PM	#22
jimhelm a beautiful fool Join Date: Sep 2010 Location: 39.939705 Posts: 4,504	In NJ a new title will cost you $60. And they will only take an original lien release letter, or a fax directly to their number from the lender. It would probably pay to call the DMV agency you plan on going to before you call Ford Motor Credit and see what they require. If they will take a fax from Ford, that could save you a bit of time. fun stuff! __________________ There's a Shadow just behind me. Shrouding every step I take. Making every promise empty, pointing every finger at me. _tool

12-17-2011, 05:32 PM	#23
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	Well the title cost $20 for an instant copy .....and the copy of the lien release from ford cost $17 and we have to wait for that to be mailed -even though we're pretty damn sure we didn't receive that because apparently is says "take this to your secretary of state and get a new title" and we would have done that because we're like that. We don't lose paperwork until it's acted upon and that was kind of an important step........ thanks all for your help, especially the wonderful jim __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

12-13-2011, 01:01 PM	#17
infinite monkey Person who doesn't update the user title Join Date: Mar 2011 Posts: 13,002	This is why I don't deal well with regular life stuff. Why is everything so freaking complicated? It's not even my situation and this all makes me go half into an anxiety attack.

12-13-2011, 03:19 PM	#21
sexobon I love it when a plan comes together. Join Date: Oct 2009 Posts: 9,793	As Jim stated, even if you have an original title (with lien holder) and have paid off the loan, you still need a lien release statement from the finance company in order to sell or junk your vehicles. That can create transaction delays not only if you've lost the lien release; but, even if you have it. The State issued title certificates often have some anti-tampering/counterfeiting devices while the bank issued lien releases are typically just letters that do not. The lien release statement provides convenient information; however, it is easily forged. Buyers may not proceed with a vehicle transfer until the info can be verified with your former finance company. While we're in this period of financial instability with lending institutions merging and collapsing, those records can get lost in the shuffle creating significant delays. That's why I sent my title (with lien holder) and lien release statement in to the State for a corrected title (without the lien holder listed) immediately after the loan was paid off even though it's not required that I ever do so. Now, just the title in my possession is all I need to show that my vehicle is free of encumbrance for immediate transfer of ownership. You may want to do the same with all of your vehicles.

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