car title in new jersey DMV question (Deal: insurance, loan)

[MR77]

I went to the motor vehicle website but I'm either im stupid or it wasnt clear. So quick question... I recently paid off my car loan with wells fargo. How do I go about getting the title? Do they send it to the MVC to transfer into my name or do I need to go to a motor vehicle office and submit some kind of paperwork? I paid the loan off a month ago... so far, I have seen nothing in the mail. Does anyone know what the process is?

[sbcbill]

There is no need to go to DMV to obtain the title to the vehicle. The lending institution for the loan will have the original title showing the lein amount and also when the lein amount was paid in full. Based on the time since the loan was paid off you should be receiving the title in the mail shortly. If it was me I would call the lending agency within the next two weeks, if you do not receive it, to inquire when you should be receiving the title. I hope this helps.
Bill

[timneh5]

Wells Fargo will send you your title with a letter showing you paid your vehicle off. It does take a little while, so don't panic. As the other poster said, give it a couple of weeks, then call Wells Fargo. You might be better off going in person, if you can.

[teachbeach]

After you get the title (it does take a few weeks, but it would be fine to call and inquire about the status). Then make/take a copy to your insurance company so they take Wells Fargo off the policy as being the lien holder.

[MR77]

Thanks all! Will that make my policy cheaper if wells is taken off? Hope so!

[boater1]

I just did this.

paid off loan
in about a month or so, the bank sends the title back to you with a letter saying you are paid off.

The title still had the lienholder name on it.
I went to DMV to have it taken off.

Now what surprised me.
DMV said I didn't have to come in, just call them and they will remove the lienholder in the computer.
so I said to remove them
DMV never asked to see the bank's letter.

I said what about a title without the lienholder.
They said it wasn't necasrry to have one, the computer has the correct info. But if I wanted a new copy, without the lienholder name, would cost $30 (I think)
I paid for new copy
Had it in 5 min.

Called insurance company
they removed with a phone call
No documentation needed.
called, said to remove them, they said OK, done

Will have no affect on your rates, up or down
but you should call ins company so if you are in accident, they do not cut the check with them on it and they have to sign it.

[HalfFull]

Originally Posted by MR77

Thanks all! Will that make my policy cheaper if wells is taken off? Hope so!

Sorry, no.

[300zxdriver]

Why would it take 6 weeks to get the car title from a dealership for a vehicle paid for in cash or check.

[captne76]

Originally Posted by 300zxdriver

Why would it take 6 weeks to get the car title from a dealership for a vehicle paid for in cash or check.

That's an entirely new question but things depends on if it's in the same state. It should not take that long. For instance you can go in and have a new title in your name in minutes. Ask the dealer why. Get back here with any more questions.

[rscalzo]

title from a dealership for a vehicle paid for in cash or check

They will wait for any checks to clear. The fact that it was a cashier's check means little to them.

Titles come from the NJ DMV so their rep has to get it from their office. Two weeks at best but it should shorter as vehicles must be titled within ten days. Usually it will be included when new plates are sent.

Dealers in many cases must get the actual paperwork from the manufacturer before they can title a car. That means they must paid the balance on cars they are selling. Most don't own those vehicles outright when sold.

Either way, six weeks is way beyond a reasonable time. I've seen new buyers get screwed because they couldn't get their plates and the paperwork for a new car because of dealer issues. As only one temp may be issued per car, they now have what is a unregistered vehicle. Now they are forced to take civil action.

Advice. Stay on them.