Therefore, your title shall be free of the lien. The DMV then removes the lien from your car title.Īll this process is paperless since the MDV holds your title electronically. The lienholder notifies the state motor vehicle administration that you’ve completed paying off your loan. How Do You Remove Lien After Paying Off Your Car Loan in FloridaĪfter making your last batch of payment, the rest clearance should be facilitated by your lender.

Your lender shall communicate to the FLHSMV online and the title transfers and updates shall be done electronically. If your car has an electronic title in Florida, then you do not have to wait for any physical mailings completion of your car loan. This type of title exists electronically and is stored in a database for easy soft access. The ETL is a paperless means of handling liens and titles. How Does the Electronic Lien and Title (ETL) Work Other lenders also get to know that the car is under lien to avoid fresh lending before you clear the first loan. The second is that it protects the lender from having the property owner selling such a property. The first and most obvious is that the lender gets a right to auction the property in case you’re unable to pay the loan in full. So, in case you are unable to pay, they can legally claim your car. When you borrow a car loan, the lender, upon a signed mutual agreement with you, gets their information recorded alongside yours in the car’s title. Similar to most states, vehicle titles in Florida are handled electronically, you can request a paper title through the local DHSMV office.Ī lien is the legal means through which lenders shall secure your vehicle. The details of your vehicle are accurately captured in this document. How to Get Car Title After Paying Off Loans in Florida – Car Titles and Liens in FloridaĪ car title is an electronic or paper legal document that proofs ownership of a vehicle. The lender then places a lien on the title which shall last until you get to pay off the loan fully. You shall not miss the services of your car since the borrower only holds the title while you use your car. The lender usually holds the original title to your car to act as collateral in case you’re unable to pay the loan. What is a car loan?Ī car loan is a type of loan where the borrower needs to secure it by his or her vehicle. So, after going for a car loan, things have improved from your side and you need your vehicle’s title back.

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