When you go through a financing service like Chrysler Financing to purchase a vehicle, the company will typically put a lien on the vehicle's title until you pay back the loan in full. Once the loan has been paid off, you can request a release of lien or a lien satisfaction that proves you have satisfied your loan obligation. You can then take this document to the Department of Motor Vehicles or Chrysler Financial (whichever is holding the title) and pay a fee to get the title transferred to your name. You can request a lien release from Chrysler Financial by contacting them.
The answer to your question, "How do I request a lien release from Chrysler Financial?" can be found in this article. Chrysler Financial, previously Chrysler Credit, is Chrysler's automobile financing service. In 2009 Chrysler's commercial financing operations were restructured and terminated than the company started offering consumer retail financing products that, by 2010, had a portfolio of nearly $17 billion.
A release of lien is a document that states a vehicle loan has been paid off in full. The release of lien can be sent to the proper agency to get the title of a vehicle for various reasons, such as the title was never received from the Department of Motor Vehicles or it was received but it was lost or damaged. Once the lien release is submitted, the original title will be forwarded to the rightful party. Note: you will not be able to receive an additional release of lien for a minimum of 30 days
Those who finance automobiles through Chrysler Financial can request their vehicle title after completely satisfying their loan obligation by following the simple steps below:
Step 1
Obtain the full amount of pay-off for the vehicle's title from Chrysler Financial. When you finance a vehicle through a credit corporation like Chrysler Financial, the company will place a lien on the title of the vehicle until your loan is paid off in full. You can contact Chrysler for a release of lien or with any questions you may have about titles by clicking here for the toll-free number.
Step 2
After paying Chrysler Financial the full loan amount due on the auto loan, verify the full amount was applied to your loan and the account is closed.
Step 3
Request a release of lien or a lien satisfaction from Chrysler Financial by calling the toll free number you will find here. This document proves the loan was fully paid off and it states that you are entitled to the title of the vehicle that's free and clear.
Step 4
Present the release of lien or the lien satisfaction to the Department of Motor Vehicles or the Secretary of State in your state. While some states allow the title of a vehicle to stay with the loan provider, others require the loan provider — which is Chrysler Financial — to deposit the vehicle's title with the state during the time the borrower is making payments on the loan. Therefore, in order to retrieve the title of your vehicle, you will need to present the proper state authority with evidence of the lien satisfactory or submit this information to Chrysler Financial and request the company transfer your vehicle's title in your name. You will be required to pay a fee to the Department of Motor Vehicles to transfer the title in your name. After paying the fee, you will receive an original title document.
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