![]() Once the DMV has those documents, they will send the perfected title to us.Ĭlick to learn more about Title and Insurance Requirements for a Private Sale. Per your loan agreement, it is your responsibility to get the title from the private seller and take it to the DMV to transfer the ownership to your name. Check with your state’s DMV to make sure you have the required paperwork to complete the transaction. It must be signed by both parties and list all pertinent information about the vehicle and money exchanged. If you purchased your vehicle through a private sale, a bill of sale may be necessary. Purchasing a vehicle from another person (also known as private sale):.In that case, we will send the title to you with the pertinent documents for you to correct the name on the title and get DCU listed as lienholder with the DMV.Ĭlick to learn more about Title and Insurance Requirements for a Lease Buyout. Sometimes the leasing company will send the paperwork directly to DCU. The DMV will then issue a perfected title to DCU with you listed as the new owner. If you are purchasing a vehicle off a lease, the leasing company should provide you with the title, bill of sale, and other required documents to take to your local DMV. IMPORTANT: Even though the purchase was done through a dealership, you are responsible for ensuring the title is issued to DCU.Ĭlick to learn more about Title and Insurance Requirements for a Dealer Purchase. If there is a delay in receiving the title, contact your dealer to confirm they submitted the necessary paperwork to the DMV. Please be sure to give the DMV the correct lienholder address and code, which are listed in the glossary of terms below. The dealership may instead give the title to you to complete the title work with the DMV. If you purchase your vehicle from a dealership, they may complete the title application paperwork and send it to your local DMV. Please make sure the title application is accurate with your dealership. The DMV will then issue a lien recorded title to DCU. If you have started the loan as a personal vehicle loan, the title will need to be in your name. If the vehicle you are titling is for your business and you would like it in your business name, you must open a business membership and apply for a commercial loan. If you have documents with the correct VIN, you may upload a copy through the Digital Banking Document Share option or fax the image to 508.983.6418. If you are aware of any discrepancies, please contact us as soon as possible. IMPORTANT: The VIN (Vehicle Identification Number) on your Note and Loan agreement must match the VIN on your title. If the title application with the DMV is completed properly, we’ll be notified that the title has been created with DCU as lienholder. If there is another person on the title that is not a borrower on the loan, the person must sign as Owner of Security on the Note and Loan Agreement. In the Names and Mailing Address of Owners section, it must list you as the owner and your current address. Please do not write on your title, as this will void the title. Once you get your title, there may be some changes that need to be made before the title is ready to give to DCU.
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