If you have fully paid off your title loan, the one thing you’d have left to do is get your vehicle title back. You must obtain the updated title, as the current title may still appear to have a lien against it if you don’t receive a clear version. This can make it difficult to do what you want with the vehicle, for example, if you're going to sell it, or you’d like to take out another title loan.
In this guide from Idaho Title Loans, Inc., we will explain how to get a car title after paying off a loan in Idaho. We will review the lien release process in Idaho for a vehicle title after paying off a title loan to help you obtain a lien-free vehicle title.
Why You Need To Get Your Car Title Back
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 indicate that a lien is outstanding against it. After you have paid off the loan, the lien must be removed. This confirms that you are the legal owner of the vehicle, allowing you to do with it as you wish.
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 ensure that the vehicle appears as yours, as it is.
How To Get A Car Title After Paying Off A Title Loan In Idaho
One of the benefits of obtaining your car title after paying off a car title loan in Idaho is that local regulations simplify the process. 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. A DMV title transfer after lien payoff in Idaho is simple, as long as you follow our instructions.
Here are the Idaho car title loan payoff steps:
1. Pay Off The Car Title Loan
Before you can begin the process of getting your vehicle title back, you must first pay off the debt associated with your title loan. At Idaho Title Loans, Inc., we offer up to $15,000 with our title loans. You will have to pay off the full amount you borrowed, plus interest. In some cases, this process can take less than 30 days, but larger loans may take 60-90 days.
If you’re struggling to afford repayment, follow some of these tips below:
- Cut unnecessary expenses (subscriptions, fast food, etc.)
- Get a side hustle to make more money
- Pay off small amounts with every paycheck
- Round up your payments to the nearest 100
- Prioritize repayment in your budget
Once you have fully paid off the title loan, your lienholder must take over the process to help you get your car title back.
2. Wait For the Lienholder To Notify The Idaho DMV
After you repay your title loan fully, the lienholder has 30 days to notify the Idaho DMV. This allows the DMV to have the most updated version of the title. They must complete this step for you to get your title back.
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 similar statement. For larger lienholders, they might send a list of all the vehicle titles that have satisfied liens, along with an explanation letter. Thankfully, Idaho has an Electronic Lien and Title (ELT) program that lets them handle this process online rather than by mail.
For this step, simply wait. Since all the responsibility lies with the lienholder, you don’t have to take any action. As long as you select a reliable and trustworthy lienholder, this step should go smoothly and quickly. We suggest you keep in constant communication with your lender to ensure the lienholder notification to the Idaho DMV for your title loan payoff goes smoothly.
3. Receive A Lien Release Certificate
Once the lender has notified the Idaho Transportation Department that you repaid the loan, you will receive a lien release certificate. This document confirms that you have cleared your debt, and the lienholder has given up their legal claim to your vehicle title.
This is not the same as a full reissued title because the lienholder’s name will still appear on your title. If you want to have a fully clear title and remove the lender’s name from it, you will have to apply for a title transfer.
4. Apply For A DMV Title Transfer
Getting a DMV title transfer after a lien payoff in Idaho allows you to have just your name on your title, free from any liens or debts associated with your title loan. You will need to complete this process in person at a DMV office, but it only takes a short time.
To get a title transfer in Idaho, you will need:
- Your vehicle title
- The bill of sale
- An odometer disclosure
- Vehicle identification number (VIN) inspection
- A $14 title fee
Once you have completed the title transfer process in Idaho, you will receive your new vehicle title in the mail after a few days or weeks.
What Can You Do With A Clear Vehicle Title In Idaho?
After completing the lien release process for an Idaho vehicle title, you will have a clear title that you can use. This allows you to sell your car if you wish to get a new one. You can also gift the title to a friend or family member. Just make sure you fill out the proper paperwork, so the buyer, friend, or family member can get a title transfer, so the title is in their name.
You can also use the clear title to get another title loan. You can afford any future financial emergencies, such as medical bills, auto repairs, or unexpected travel costs, with a second title loan. As long as you have fully paid off your first title loan, you are free to apply again.
You will need the following required items to get approved for an Idaho title loan:
- A driver’s license or state-issued ID that displays your picture, name, and age
- A lien-free vehicle title in your name
- Your vehicle for a quick inspection
Begin the process of getting a title loan by filling out our online form with your name, zip code, contact information, and vehicle details. We will call you shortly to explain the process. You can then visit our nearest Idaho store location to get approved in less than 30 minutes. After signing the loan agreement, you can receive your emergency cash that same day or by the next business day.
Get A Car Title Loan In Idaho – Borrow Up To $15,000 Today!
Do you own your car outright but need emergency cash? Idaho Title Loans, Inc. can help with your title loans worth up to $15,000. You can get approved the same day you apply, regardless of your credit score. Borrow money today and keep your vehicle. Apply by filling out our online title loan form, and you can get approved in person in less than 30 minutes. Get your emergency cash today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
