by kristk on April 1st, 2009

kristk

Question

Help answer this question below.

I have a loan already through a loan company, and I want to buy a used vehicle and make payments on it through the car place. My question is..can both places put a lien on the title of the car?

Answers. 2 helpful answers below.

  • by mca on July 29th, 2009

    mca

    If you have a loan for a car all you have to do is find a car and arrange the money(your loan) to be paid to the car place. Once that is done the "car place" has nothing to do with the payments anymore. A pink slip will be mailed to the lien holder, which is the bank who gave you the loan. You will have to pay the bank for your car now. The "car place" no longer has any interest or right to your car, unless it is about a warranty issue, then they are still responsible. Hope this helps.

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  • by EmptyWallet on April 12th, 2009

    EmptyWallet

    No only one will have "Rights" to the car.

    Unlike a house situation (Or casino where there are several "Owners" a car is different. The company "Loaning" you the money has ownership of car till paid off. So whoever loans the cash, has the "Rights" to the car should repo or something along those lines occur.

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You're reading I have a loan already through a loan company, and I want to buy a used vehicle and make payments on it through the car place. My question is..can both places put a lien on the title of the car?

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