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I am a co-applicant for a car loan. What happens to the title when the loan is paid off?

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I am a co-applicant for a car loan. What happens to the title when the loan is paid off

10/28/2016 | Category: Automobiles | State: Connecticut | #25834

Answer:

When the loan is paid the lender sends the title to the owne(s) with a notation that the lien has been released. Until then the lender generally holds the title as security for the loan. If the loan is not paid, the lender can repossess the car and sell it at public auction if the loan is not brought current according to law.

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I am a co-applicant for a car loan. What happens to the title when the loan is paid off?

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I am a co-applicant for a car loan. What happens to the title when the loan is paid off?

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Answer:

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For Consumer

Services

For Business

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