My auto loan check hasn't cleared in the dealership's bank acc't, but he'll let me take the car off the lot of I can give him the lien-holder's address and phone number from the bank that issued me the auto loan. ??? Someone please explain what he means. Thanks.
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
The lien holder is the lender - the bank you borrowed the money from to buy the car.
A %26quot;lien%26quot; means you won't have the title to the car until the loan is paid off. Until then, they hold the title, so the dealer wants to know who this is.
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
A lien-holder is who you owe the money to.
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
a lien holder is who is giving you the loan for the vehicle (example: wells fargo, capital one etc.)
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
The lien holder is the institution that loaned you the money.
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
being more specific, the lien holder address is the SPECIFIC address the lender wants you to use on the title of the vehicle. Call them up and ask them for their lienholder info for the dealer.. it is usually included in the paperwork the bank gave with their draft.
Concerning auto loans from banks, who and what is the %26quot;lien-holder%26quot;?
He wants to know the name and address of the lender who gave you the money for the car. The lienholder is usually the lender, however, a lienholder can also be someone who has filed a claim/lien against your car, for instance a mechanic who didn't get paid for services performed on that car, the mechanic would file a lien, stopping you from selling the car without a release of interest from him.(which he won't do unless he is paid in full) But, in your case, the dealer wants the bank's name and address.
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