Did you get the body out of the trunk?

Keep the title safe for when/if you want to sell the car. If you don't have a need for a safe-deposit box, get a fireproof box for your important papers like the title, your passport, etc.

You may want to tell your insurer; I'm not sure that they need to know, but it wouldn't hurt.

Also, congratulations! That's a big step.

>Keep the title safe for when/if you want to sell the car. If you don't have a need for a safe-deposit box, get a fireproof box for your important papers like the title, your passport, etc.You may want to tell your insurer; I'm not sure that they need to know, but it wouldn't hurt.Also, congratulations! That's a big step.

thank you so much

UH OHHHHHHHHH

Own the car and enjoy it.

Buy a fire safe!

Congratulations! I love knowing my car is paid off. And I’ll tell you I’ll never buy a car again! Ahahahaha!

I bought my wife a new car in 2010. Paid it off in 2015. Bought myself a truck in 2017 I have 5 payments left. God I can’t wait to have no car payment.

Yep, keep it safe. It is a pain in the behind to replace a lost title.

Start sending me car payments.

You may have to go to NJ MVC to get the listed lien removed from the title. To get a clean title only in your name.

that's what I'm confused about. The title certificate is signed off by the Motor Vehicle Comission saying it ceritifies "evidence of ownership", so doesn't that mean that the lien was removed from the title?

Just did the same thing. You have to:

1. Go to DMV. You'll need the title and payoff information, which will show the state tax paid, plus your insurance card. They'll switch the registration and you'll get new plates. I made an appointment at Springfield DMV and was in and out in under an hour.

2. Call your insurance company and let them know you own the car not the loan company.

3. If you have EZ-PASS, register the new license plate online.

you need to remove the hold on the title at the DMV.

The DMV will either ask if you want to do that, or if you want a new title re-issued with the right address/owner information.

Yes the lien was removed. If it is signed on the front bottom right hand corner saying "lien released" with a signature you're good to go. If you decided to sell the car you would need the title and attach the original lien release letter by the bank. The letter isint 100% necessary if the title is signed or stamped paid for but is necessary if it isint.

Congratulations

FWIW, my parents had this happen to them with a car they that bought in 1999, paid off in 2004, and kept until 2018.

Despite having a title that was clearly marked as having the lien released, the MVC had no record of it being paid off. Made a hash out of what should have been a no-brainer transfer of an essentially worthless vehicle.

It might be worth a check with them to insure that all the paperwork processed correctly.

Congratulations. It's nice to see there are still a few of us people out there that haven't been sucked into the never-ending car lease cycle. I have always tried to pay off my cars and hang on to them for at least another 10 years.

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Make sure the original lien holder name matches exactly to the name on the release stamp. Often banks merge, change names, get bought, etc. during the time the vehicle is being paid off. If they don’t match MVC might catch it and not do a title transfer to the next buyer when you sell it (or make them produce a bank letter showing the name change). If everything matches there shouldn’t be a problem.

>FWIW, my parents had this happen to them with a car they that bought in 1999, paid off in 2004, and kept until 2018.Despite having a title that was clearly marked as having the lien released, the MVC had no record of it being paid off. Made a hash out of what should have been a no-brainer transfer of an essentially worthless vehicle.It might be worth a check with them to insure that all the paperwork processed correctly.

got it. I'll check into it, thank you.

Nope make sure the bank stamped it paid and you have a lein release you will need that is you want to sell it other then that nope you are good to go

Unless it was a lease, you shouldn’t have to change plates. On a loan, you own the car subject to a lien, so the plates are in your name. On a lease, the dealer owns the car, so the plates are in the dealers name. If you buy out the lease, then you need new plates. If you pay off a loan, you do not.

Thank you for this clarification. I was leasing so needed new plates.

The dealership wouldn't keep the title unless they are the lending company. Contact the lender.

i finally got off the roller coaster the last time i needed a car (late 2019) and never happier.

if you get the title back from the dealer with the signed section from mvc that the lien has been removed, you're all set. hold onto the title somewhere safe (safe deposit box, fireproof box) because you'll need it in case you sell the car or need to prove ownership.

if you're not sure, follow the instructions here to do a lien search. if they think there's still a lien on it, you need to follow the directions there to get the paperwork fixed.

It's from the lender, I had meant the lender, not the dealership. Thank you

I would also send a copy of the title to your insurance company. If you were to have an accident, you are now the loss payee.

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.

Don't forget timely car inspection...