Auto >> AutoSPT >  >> Car Care

Do you get the check if your car is paid off?

When a car is paid off, the lender no longer has a lien on the vehicle, and the title is transferred to the owner. In most cases, the lender will send the title to the owner directly. However, in some cases, the lender may send the title to the Department of Motor Vehicles (DMV) instead. If this happens, the owner will need to go to the DMV to pick up the title.

Once the owner has the title, they can then apply for a new registration and license plate. The registration and license plate fees will vary from state to state.

If the owner does not want to keep the car, they can sell it or trade it in. In either case, the owner will need to sign the title over to the new owner.

So, to answer your question, no, you do not get a check when your car is paid off. However, you will receive the title to the vehicle, which will allow you to sell or trade it in if you wish.