Contract and Title Frequently Asked Questions
Because every state has its own title procedure, please refer to your local Department of Motor Vehicles’ website. To help explain some of the methods your state may use to release a lien, we’ve outlined a few definitions for reference:
- Paper Title: Paper titles are physical titles. Shortly after purchasing your vehicle, that title may have been mailed to you or to Flagship Credit Acceptance, depending on your state’s procedures.
- Lien Card/Lien Release: If you live in a state where the title was mailed to you directly at the time of purchase, Flagship Credit Acceptance will release the lien via a Lien Card or Lien Release letter at the time of payoff. Once you receive that card/letter, present it and the title to your local DMV office to remove our lien from the title.
- Electronic Record: Some states do not print a title until after the account is paid in full. Flagship Credit Acceptance will send a lien release as directed by you, the customer. Once you receive the lien release, present it to your local DMV office to produce the new title.
- Electronic Title: Some states no longer use a paper title process. Instead, the lien is filed electronically, and Flagship Credit Acceptance is notified of the lien electronically. Upon payoff, Flagship Credit Acceptance will notify these states of the lien release. Upon notification, some states will immediately release a paper title. Other states do not require the customer hold a physical paper title. Should you require one, you will have to request it from the state.
Before the certificate of title or lien satisfaction can be mailed, the payoff must be posted to your account and the account must be fully satisfied. Once these terms are met, the certificate of title or lien satisfaction will be sent to the authorized party – the person or entity that paid off the loan – in accordance with specific state regulations.
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