Pro tip: if the loan is paid off, go to your local dmv and get them removed from the title as a lienholder. I bought a 1971 motorcycle that still had the bank o

Pro tip: if the loan is paid off, go to your local dmv and get them removed from the title as a lienholder. I bought a 1971 motorcycle that still had the bank on the title as a lienholder, and it was a royal pain for both myself and the seller. If it wasn't an extremely rare bike, I would have backed out of the purchase. A bank will repo a car if it isn't paid, but if the loan is paid off then their name can be removed from the title. This doesn't happen automatically in all states though, so you may need to do some legwork. However, when the time comes to sell the car having the bank's name on the title is almost worse than a salvage title. Most car dealers will absolutely refuse to take the vehicle in on trade, for example.