 TITLE: What to Do Once You Pay Off Your Car CONTENT: Get Your Car Title\n------------------\nYou just paid off your car and own it outright—now get the paperwork that says so. Your car title is a piece of paper that lists the official owner and any lien holders on your car. Depending on what state you live in, you may already have a title with your name on it. If you do, you live in what's called a non-title-holding state, which means that your state's Department of Motor Vehicles issues the title to the vehicle owner and not the lien holder. In this scenario the lien holder is listed on the title, but is not the primary name.\nIf you live in one of these states and just finished paying your car loan, you'll want to remove the lien holder from your title. This can be done by contacting your state's DMV.\nIf you live in a title-holding state, that means that the lien holder—the lender that financed your loan—will hold the title and it will only be released when the lien has been fully satisfied. Once you've paid off your loan, your lien should be satisfied and the lien holder should send you the title or a release document in a reasonable amount of time.\nOnce you receive either of these documents, follow your state's protocol for transferring the title to your name. This will allow you to show ownership and sell the car in the future, so get all this paperwork in order as soon as possible. END