If your car is finance would you have the car title or would the finace company have the title ?

Question

Keep in mind when answering this question that the car isn't not isn't paid off yet.

Answer 1

If in the USA, It depends on the state.  In my state, I would hold the title, but it would show the XYZ loan company as the lienholder and I could not sell the car as long as there is an unsatisfied lien on it.  When/if the car is paid off, the XYZ lien company then sends me a "satisfaction of lien" document that allows me (if I want) to sell the vehicle.

Answer 2

the finance company owns it, they hold the title, with their name on it.

guess who is of course our thumbs down jagoff, and he's WRONG.

Answer 3

You would have the actuall title but on the title would be a printed lean to the rights to the car untill you paid off whoever you owe the money too.  Than a newe title would be issued to you without a lean on it.

Answer 4

this is how it works in NJ/Pa at least.

the finance company keeps the title.  you do not get a copy (well i'm sure you could get a photo copy if you wanted it)  but, most of the time, the finance company is listed on the title as owner, until you pay it off.

usually the car dealership takes care of the registration, so you don't need to deal with getting a copy to register it.  but, if you move states or the dealership does not register it for you, you would need to go to the dmv and fill out a form for the finance compay to send a the title to the dmv.  when they get it, they have you come back in and fill out everything/register your car, then they mail it back to the finance company.

Answer 5

You get a copy of the title for the purpose of getting the car registered and the finance company has the original (actual) title.

Answer 6

you get a photo copy, they get the title

Answer 7

if you owe money on it you'd NEVER get the title! what an idiot!!