Oops! My husband just received the title to his car (it isn't paid off yet)...?

Question:
Does this mean he is now the legal owner of the car?

Teenager's auto insurance?

We are in Texas. Thanks in advance.

Answers:

Are the questions on practice dmv tests the same ones on the real test?

A mistake was made and you know it. If you do the wrong thing it is illegal (you've made it public information that you realize the mistake). The loan contract is still in force. You possessing the title does not change the terms of the contract that your husband signed, in which he agreed to make all of the payments.

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What is the most Stolen Car ?

Check the title again! I'll bet dollars to donuts there is a lien holder's name on the title. Once the loan is paid off, then he'll receive a clear title to the vehicle.

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Rear-ended someone "low speed/no damage" ?

Yea!... What they said.

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When you turn 18 in michigan - how to get your license? (whats the whole scoop)?

YES YES YES.. YOU GOT IT ... I AM FROM .ODESSA TX IF YOU HOLD THE TITLE THAY HAVE NOTHING YOUR THE OWNER OF THAT CAR.. YOUR DONE PAYING .IF YOU HAVE IT

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Car Insurance?

I work at a dealership and sell cars. What this basically means is that it has a lien on it. The lien holder is the bank. What this means is that the bank is still the legal owner of the car until you have payed off your debt to the bank. Instead of the dealership keeping the title, they send it to you for your personal records. When you finish paying it off, they will send you a lien release letter. Once you get the lien release letter, you may change the title over to your name so that there aren't any liens on it, so that you may sell it in the future if you wish.

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How much is insurance for a new lamborghini?

Some states now require that the title be sent to the owner, even if there is a lien on it.
Until the bank removes the lien, you DO NOT own it nor can you sell it.

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What are insurance company for?

That is the way it works. You buy a car, and finance it. You fill out the papers and make the down payments. The title is mailed to you, with your name as the registered owner, which makes you responsible for all the taxes and tags and insurance, and the finance company as the legal owner of the vehicle. When you make the very last payment, they send you a lien release, and you take that and the title into the tag office to have the lien holders name removed as legal owner. You do not have to wait until the car is paid for to get the title. If you did, how would you ever show it was your vehicle?

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