Is there some waya lender can release the title of my car showing them as lienholder so that I can registerit in my new state?
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Is there some waya lender can release the title of my car showing them as lienholder so that I can registerit in my new state?
I have a car title loan in AZ. I relocated to OH and need to register my car in my new state. The lender won’t release the title until I pay off the loan. That will take many months. In the meantime, my car registration expires next month.
Asked on June 12, 2011 under Bankruptcy Law, Arizona
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
When you have a car title loan, the whole point is that you have offered your motor vehicle title as security (and hence the car as security) for the money. Your car title loan lender is absolutely correct in what it is telling you so you really cannot register the motor vehicle anywhere else without payment, unless your state in which you obtained the loan has the following statutes: 1) requires licensure of this company and the company is not licensed or 2) cannot prevent you from registering the vehicle in another state or 3) allows you to register the vehicle in another state while making the necessary installment payments. Further, you can see if the state to which you have moved has licensed this entity. If not, that entity may need to be licensed to continue to service the loan and that state may not prohibit you from registering the vehicle.
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