4 ms·
> they no longer had any title over In the US an auto lender is granted a lien on the vehicle's title until the lien is released, usually after the loan is ful
by yock 9y ago
> they no longer had any title over
In the US an auto lender is granted a lien on the vehicle's title until the lien is released, usually after the loan is fully paid. It's likely similar in Canada, but I don't know for sure.
- djrogers 9y agoIf you read the article, the loan was paid off. They disabled it because the buyer refused to pay an undocumented $200 charge for removing the kill switch after the transaction.
- deleted 9y ago[deleted]
- larvaetron 9y agoIt probably varies by state in the US, I know that where I live, the primary lienholder is in possession of the title and releases it when the loan is paid in full. I can't think of a scenario where I could own a vehicle and physically hold the title, yet have an auto lender's lien on it.
- mjcl 9y agoI had something like that happen when I refinanced a car loan. The old lender released the title and sent it to me. About a year later the new lender finally noticed they didn't have the title and asked for it.