The Expert Podcast

For many years we've been talking about how to get a lien release for a vehicle even if there's money owed on the vehicle. We've talked about how to get a lien release and some recent news about a company called American car center has put a spotlight on this. lien release process And really we'd like to see that it's validated the method and suggestion that we have given for over a decade about how to get ultimately So let's talk about a backstory and what is the process of getting a lien release?

So what happened is us. car center was a large dealership. organization that had I think 40 or 50 locations around the Southeast, and they would sell cars to customers and do their own in-house financing They were like a buy here pay here lot. You finance with them, you pay them the payments When you get done you get the title. Well they went out of business, right? So what happens with those payments and the title and all the problems associated with it.

Well what we've recommended for years is if you have a vehicle that… is either a charge off or write off if there's any questions as far as the title or the lien release.. is to request a lien release from the lien holder Now it's important how you do that You don't want to do it by phone You don't want to do it by email You don't want to call them up. You only want to go in person.

What you want to do is do it in writing in a very specific way. You prepare the document that's a lien release print it, mail it to them for signature put a return envelope with the self-addressed envelope. And you've seen our older videos going back, you know from the. Really the late 19 hundreds we've been talking about this 1990s I should say 1990s. And so when this American car center went out of business, A lot of people have reached out to the better business bureau.

Right. And Brian Oglesbee of the better business bureau. Has said what should they do They're unsure if they should make payments. And what the BBB rep says is that Some customers have paid up there but still don't have the car title. Right. The BBB advisors those customers to ask for a release of lien form from the DMV. And then send it to the finance company.

Make it easy for them give a self-addressed stamped envelope because they don't have a dedicated department to fill out those forms. That way you're making it easy They send it back and receive the lease. It's almost word for word Well you said. Most companies don't have a lien release department We've said that many times. And this rep from the BBB has validated that. And confirmed that this is the best way to get a. lien release on your vehicle Many times they'll give you a lien release even if there's money owed. If you ask them the right way.

So this American car center. Controversy It's a really a crisis. Has put tens of thousands of people in a scenario where their titles at risk So you want to make sure that you request it the right way. You don't do it in by phone. And certainly… if you're making payments you don't want to stop making payments but still you want to ask for a lien release So we love seeing this We love seeing that there are solutions out there for consumers, and to make sure that you don't get where you lose your vehicle or lose all the money you've put into that vehicle over time.