The Expert Podcast

For many years, we've been talking about how to get a lean release for a vehicle even if there's money owed on it. We've discussed the process and some recent news about a company called American Car Center has put a spotlight on this lean release process, validating the methods we've suggested for over a decade.

Let's delve into the backstory and the process of obtaining a lien release. American Car Center, a large dealership organization with 40 or 50 locations around the Southeast, operated with in-house financing, functioning similar to a Buy Here Pay Here lot. Customers financed their purchases through them, made payments, and awaited the title. However, the company went out of business, raising concerns about pending payments and titles.

Our long-standing recommendation for dealing with such situations involves requesting a lien release from the lien holder. It's crucial to do this in writing, following a specific format. Sending a prepared lien release document via mail for signature with a return envelope ensures a documented request.

Many customers affected by the American Car Center closure turned to organizations like the Better Business Bureau for guidance. Brian Oglesby of the BBB advised customers to request a release of lien form from the DMV and send it to the finance company. This aligns with our advice, emphasizing the importance of making the process easy for the finance company to facilitate a smooth resolution.

The American Car Center controversy has put tens of thousands of people at risk of losing their vehicle titles. It underscores the importance of requesting a lien release properly. Continuing to make payments is advised, but simultaneously, customers should pursue a lien release to protect their interests.

Seeing solutions emerge for consumers in such crises is encouraging. It reinforces the importance of understanding and navigating processes like lien releases to safeguard one's investment in a vehicle over time.