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In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan. Car title loans frequently involve high interest rates, a short time to repay the loan (often 30 days), and a loan amount less than the car's monetary worth. The borrower also risks losing the ...
For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some ...
In the state of Michigan, the issuance of a salvage title does not mean that the vehicle is also deemed a total loss. [6] Michigan issues a salvage title when the damage equals 75-90% of the pre-damage value; if the loss is 91% or greater the vehicle is eligible only for a "scrap" title, which cannot be subsequently upgraded by any means.
Sometimes, signing over a car title can be more difficult, especially if the vehicle belongs to deceased owners or there's a lien on the vehicle. Here are a few unique situations: Signing Over a ...
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Car title loans are a convenient way to get fast cash if you own your vehicle outright. These loans aren't without risk, though, as they use your vehicle as collateral and come with steep ...
The Driver and Vehicle Records Division manages driver and vehicle records maintenance activities. The Office of Customer Services oversees the Renewal-By-Mail and Internet Renewal, as well as the Uniform Commercial Code. The office serves International Registration Plan vehicle owners and Michigan residents who are out of state.
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