How Do I Get My Title After Paying Off My Car Title Loan In Idaho?
January 31, 2022 | Louis Tully
If you have fully paid off your title loan, the one thing you’d have left to do after paying off car title loan is to get your lien-free title back. It’s important that you get the updated title back because the title may still appear to have a lien against it if you don’t get a clear version. This can make it difficult to do what you want with the vehicle, for example, if you want to sell it or you’d like to take another title loan against its title.
Luckily, the state of Idaho makes it easy to get your recently cleared title back. In this guide, we’ll explain to you exactly how to get your car title after paying off car title loan.
Why You Need To Get Your Car Title
After you pay off your car title loan, it’s imperative to get an updated version of your title. That’s because the title will still show that there is a lien against it. After you have paid the loan, the lien needs to be removed. This shows you are the legal owner of the vehicle, allowing you to do with the vehicle as you want.
In other words, you will have no way to prove that you own the vehicle outright unless you get an updated title with the lien removed. Given that you’ve already paid off the loan, you want to make sure that the vehicle appears as yours because it is.
How To Get Car Title After Paying Off Car Title Loan
One of the good things about getting your car title after paying off car title loan in Idaho is that local regulations make the process very simple. Most of the work is done by the lienholder and DMV, leaving you off the hook. You mainly have to be on the lookout for the new title to come in the mail.
There are typically two steps for getting your car title back, but the second step is up to you. As a result, we have three steps listed, but you will likely not have to do all three. See what we mean below.
1. Wait For The Lienholder To Notify The DMV
As we mentioned above, the bulk of the responsibility is on the lienholder. After you have paid back the entirety of the loan, the lienholder has 30 days to notify the Idaho DMV about the car title transfer. This allows the DMV to have the most updated version of the title.
Whenever the lienholder contacts the DMV, they will send a verified copy of your title with the lien release and a separate lien release or some other similar statement. For larger lienholders, they might send a list of all the vehicle titles whose liens are satisfied with a letter of explanation.
For this step, all you have to do is wait. Since all of the responsibility is on the lienholder, you don’t have to do anything. As long as you selected a reliable and trustworthy lienholder, this step should go smoothly and quickly.
2. Get The Lien Back
After the lienholder has contacted the DMV, the Idaho DMV or lienholder will provide you with the title certificate. This proves that the lien has been paid off and that you are the owner of the vehicle outright. This step does not come associated with any fees, making it the cheapest and easiest way to get your title.
The catch with this option is that the lienholder’s name will technically still show up on the title, and you use the title certificate to show that the lien is no longer applied. In other words, you will just have to keep up with an additional document.
3. Apply For A DMV Title Transfer
If you don’t want to keep up with the title certificate and want the lienholder’s name removed from the title, you have the option to apply for a DMV title transfer. This means you’ll have a completely new title in your name.
Even though you don’t have to keep up with an additional document when you choose this step, it is the more difficult option. You will have to go into the DMV and apply for a title transfer. This will come with fees and require proper documentation.
What If I Need A Loan Before My Title Is Cleared?
Even if you are waiting for the title after paying off a car title loan, you might still need some emergency cash. You would normally be able to get a new title loan, however, you’d have to wait until your title is cleared.
You could easily learn about the requirements for these loans and qualify for one in less than a day by submitting an online quick cash form and a loan representative from Idaho Title Loans, Inc. will contact you to guide you through the rest of the process.
Get The Money You Need Today!
As you can see, getting the updated car title you need after paying off car title loan is quite easy in the state of Idaho. You mainly just need to wait for the DMV to get the release and send you the new version.
However, if you need some extra cash in the meantime, you can submit a form for paydays or installment loans from Idaho Title Loans, Inc. and you have a chance to qualify before the end of the day!