jlong86

Scenario: original loan with one bank when I purchased from the dealer; just refinanced with another bank; original bank gets paid off by refinanced bank and sends me the title of the car in the mail.

Should I forward to refinanced bank or just hang on to it. It doesn't make sense to me that they'd send it to me.

Thanks

Steve_R

The new lienholder will want it.

mcandrew67

Hold on to it, if the new bank wants it as the lien holder they will ask for it. Some states the bank doesn't hold the title.

Tom45

Keep the title until they ask for it.

florida john

Depends on the state. In my limited experience, some state's titles list the lienholder on the title, but lienholder does not hold the title.

budgreen3564

They do in Texas.

psp6158

Read over your loan application, they will want the title since they own it, it will be in their name... I would expect you will receive a letter from them very soon.

truckplay

unless you got a personal loan the lien holder gets the title (they hold it as collateral on the loan)

Red08

That would be my recommendation too. Keep it until they ask for it.

jlong86

Thanks- will be keeping it.

ben dover

Maybe.