We just paid off my wife's car! When we received the title, my wife and I are listed as the owners and the lienholder (bank) is signed off and stamped showing paid (no lien). Now the question:
The title came with a letter saying we can take the title to the DMV to receive a clean title with no lien. I do not recall doing this with any title I have received after paying off the loan. What is the advantage/disadvantage of keeping the title I have with signed/stamped lien?
The title came with a letter saying we can take the title to the DMV to receive a clean title with no lien. I do not recall doing this with any title I have received after paying off the loan. What is the advantage/disadvantage of keeping the title I have with signed/stamped lien?