Ethan Riley
In the United States, the process of obtaining a car title varies depending on the state and whether the loan has been paid off. In Missouri, the car owner usually holds the title, even if there is a lien on it. However, some banks or financial institutions may hold the title for a few days to ensure that checks clear before releasing them. The process of obtaining a car title in Missouri involves signing a Missouri vehicle title, which proves car ownership and allows the owner to borrow cash from a financial institution.
| Characteristics | Values |
|---|---|
| Who holds the car title in Missouri? | The car owner usually holds the title, even if there is a lien on it. |
| What is a lien? | A debt or charge against the title. |
| What happens when a loan is paid off? | The lienholder is removed from the title, and the owner's name is added. |
| What is needed to get a new title in Missouri? | A notarized lien release (copy or original), the current title (if available), and a title fee and processing fee. |
| What is the time frame for receiving a new title? | It typically takes 3-5 business days to receive a new title. |
| Can a car title be used as collateral for a loan? | Yes, a clean and lien-free title can be used as collateral for a vehicle title loan in Missouri. |
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What You'll Learn
How to obtain a car title in Missouri
In Missouri, you usually hold the title for your car, even if there's a lien on it. If there is a lien, you will need to obtain the title from the lienholder to submit with your application. The lien will remain in force, and when the Missouri title is issued, the lien will appear on the face of the title.
To obtain a car title in Missouri, you will need to complete an Application for Missouri Title and License (Form 108). This can be done by mail or at any Missouri license office. You will also need to submit the notarized lien release (copy or original), your current title (if in your possession), and pay an $8.50 title fee and a $9 processing fee. The new title should issue within 3-5 business days and will be mailed to you.
If you bought your vehicle out-of-state and paid taxes on it, you must provide proof of the amount of tax paid. If the amount of tax paid is less than the amount owed in Missouri, you will be assessed the difference. If the vehicle was titled in your name in another state for more than 90 days, no Missouri sales tax will be assessed.
If you are unable to obtain the title from the lienholder, you must submit the following with your application:
- A written statement from your lienholder on letterhead refusing to release the out-of-state title
- A copy of the front and back of the out-of-state title held by the lienholder, indicating your name as the owner and the lienholder's name
If you are having trouble obtaining a title, private automotive title companies can expedite the title printing process and work closely with the Missouri Department of Revenue and Missouri Department of Motor Vehicle.
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What to do if the car title is lost
In Missouri, car owners typically hold the title for their car, even if there is a lien on it. If the car title is lost, mutilated, or destroyed, you may apply for a duplicate title. Here is what you need to do:
Complete the required forms:
Fill out and sign the Application for Missouri Title and License (Form 108). Mark the block labelled "DUPLICATE" at the top of the form to indicate that you are applying for a duplicate title. If there is a lien on the vehicle, you will also need to submit a notarized Lien Release (Form 4809).
Submit the application and required documents:
Submit the completed Form 108 and any other required documents to any Missouri license office or by mail to the Motor Vehicle Bureau at 301 West High Street, Room 370, PO Box 100, Jefferson City, MO 65105-0100. You will need to include a copy of your current title, if available, and proof of your legal name change, if applicable.
Pay the required fees:
Along with your application, you must pay an $8.50 duplicate title fee and a $9 processing fee. These fees can be paid by check, money order, or cashier's check, made payable to the Missouri Department of Revenue. Personal checks must include your name, driver's license number or social security number, date of birth, daytime phone number, and address.
Wait for the processing time:
It may take a few weeks to receive your duplicate title. In some cases, it can take up to two months to receive the replacement title by mail. If you need the title urgently, you may be able to get it immediately by going to the main office in Jefferson City.
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What is a lien and how does it affect car titles?
A lien is a legal claim that a lender has on a vehicle until the loan is fully paid off. If you finance a car, the lender places a lien on the title, giving them the right to repossess the car if you don't make payments. The lienholder is the person or company that holds the legal claim on a vehicle until the loan is fully paid off. This could be a bank, credit union, auto dealership, or financing company. The lienholder will be listed on the title until the lien is paid off and the lender releases it, which typically happens after the final loan payment.
In Missouri, you usually hold the title for your car even if there is a lien on it. However, in many other states, the bank holds the title until the loan is paid off, and a paper title is not generated until then. If there is a lien on your vehicle in Missouri, you will need to obtain the title from the lienholder to submit with your application for a new title. The lien will remain in force, and when the Missouri title is issued, the lien will appear on the face of the title. To remove a lien in Missouri, you must submit the notarized lien release, your current title, and pay an $8.50 title fee and a $9 processing fee. The new title should issue within 3-5 business days and will be mailed to you.
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How to use a car title as collateral for a loan
In Missouri, you can use your car title as collateral for a loan. This is different from a regular personal loan as the loan is secured by the title of a car that you own. You can get a title loan from lenders such as Missouri Title Loans, Inc. and 5 Star Car Title Loans.
To use your car title as collateral for a loan, you must be able to prove that you are the owner of the vehicle and that it is paid off in full, with no active or pending liens on the title. You must also be at least 18 years old and provide identification in the form of a driver's license or government-issued photo ID.
The vehicle is then inspected and evaluated, and your application is reviewed. If you meet the requirements, you can be offered a loan of up to $15,000 in exchange for temporary ownership of the title. You can usually keep possession of your vehicle as long as your loan remains in good standing.
To apply for a title loan, you can submit your request online or over the phone. An agent will then contact you with more information. You can then drive to the lender's location and complete the rest of the process with the assistance of your agent.
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How to transfer a car title to a new owner
In Missouri, car owners usually hold the title for their car, even if there is a lien on it. However, if there is a lien on the vehicle, you will need to obtain the title from the lienholder to submit with your application. The lien will remain in force, and when the Missouri title is issued, the lien will appear on the face of the title.
To transfer a car title to a new owner in Missouri, follow these steps:
- Sign the existing title: The seller needs to sign the existing title to release ownership. If there are two people on the title, both should sign it.
- Include additional details: Depending on the state's requirements, you may need to include additional details such as the odometer reading, buyer's information, and sale price. Some states may also require a notary witness signature.
- Remove the car's plates: Take off the license plates from the vehicle being sold.
- Notify the Missouri Department of Revenue: Inform the Missouri Department of Revenue about the sale within 30 days by submitting Form 1957 (Bill of Sale) or Form 5049 (Notice of Sale).
- Provide the buyer with the necessary documents: Give the buyer a properly assigned certificate of title. If applicable, include a safety inspection certificate issued within the last 60 days and other relevant documents such as comprehensive maintenance records and original purchase documents.
- Buyer applies for a new title: Once the buyer has the signed title and other necessary documents, they can go to the relevant state office to get a new title issued in their name. They will need to submit a signed Application for Missouri Title and License (Form 108) and pay the applicable fees.
Please note that it is essential to follow the specific requirements and procedures outlined by the Missouri Department of Revenue for transferring a car title. The process may vary depending on the circumstances of the sale and the state's regulations.
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Frequently asked questions
The car owner holds the title for their car in Missouri. This is a legal document that proves ownership of the vehicle.
A lien is a debt or charge against the title. If there is a lien on the vehicle, the owner must obtain the title from the lienholder to submit with their application. The lien will remain in force and will appear on the title.
Once your loan is paid off, you become the legal owner of the vehicle. You will receive a letter from the lender releasing you from the lien. You must then bring this letter to your DMV or town clerk's office, along with the current title, and apply for an updated title.
Yes, but only if you have positive equity in the car, meaning you owe less than what the car is worth. If your profits are not enough to cover the loan balance, you will need to find another way to make up the remaining amount.
