You can get a new title with the lien release on it issued.

While its not necessary, having that done in advance makes it easier if you can't find your title like 5 years later, and the company who wrote your original note has been sold\transfered\bankrupt\transfered again in that time and DMV insists on getting a lien release from the lender, because their information still says there is a lien on it.

Ask me how i know.

I wouldn't run out to DMV tomorrow, but its worth the step next time you are there.