Car Title transfer - Auto Loan pay off (fit in, buyer)

[AbhiA]

Hello,
I completed my auto loan and the bank sent me the original title deed with their endorsement. I believe I can get an updated title deed removing their name from the title but it costs about ~$90 for the same.


I wanted to know if there is any benefit in getting the title cleared of their name or is it fine to have the endorsed title in hand and when we sell the car, we can endorse on our section and then buyer gets a new title with their name.


Basically, wondering if a way to avoid paying this amount for getting the title cleared.


Thx

[texasdiver]

No, there is no problem having the lender signed off on the title. That is normal. I wouldn't worry about it.

[fortunatus]

Agree. Total waste of money. Just sold my car that had a paid-up loan, with the bank's stamp releasing their interest. Signed over the title to the new owner, who reported having had no problems at the DMV.

[AbhiA]

Thanks for the info.. seems I also want to go that route. Lender also already signed & stamped title release to me and I will sign off the on title when I sell. If it was a few $, then would have spent to get the lessor name removed, but I think its about $90 and that is an avoidable expense.