Are you supposed to get the title for a car you are still paying to a leinholder on? Isn't that supposed to come when you've paid it off? I ask because I didn't get the title to my old car until the bank loan was paid off, but I recently got the title to this one in the mail and we still owe nearly $17,000! There is a spot on it for a leinholder'* name, and for them to sign it over to you, but it is blank.
All this makes it look like we own it outright...is this a mistake or am I reading it wrong?

If it'* a genuine title, and no leinholder is listed, somebody goofed. Time to consult a lawyer! I'd bet if you stopped paying, they'd be able to nail you anyway, by proving the mistake, but that'* kinda cool to think about anyway!

I recently paid off my car and here is what I found out (this applies to MNonly, maybe other places too), I should have already had the title in my posestion. I didn't (most likely misplaced from a few years and 2 homes ago). What I got when I paid it off was a letter in the mail from the bank with ofically signed paperwork that stated I paid off the debt in it'* entierty. This would then allow me to go to the local DMV and have the bank'* name removed from the title as lien holder and issue a new title to me with the my name on it. I've heard that some places / states may have the lien holder keep the title until the loan is paid but as far as I knoe it doesn't matter who actually has the paperwork, it'* what'* in the DMV'* computer system that counts now.

So if the title still has the bank listed as a lien holder on it I would definatley keep paying as normal since legally they still "own the car" until you finish paying them off.

That make any sence?

You know, that'* what I thought. Before (with the old car) we had a piece of paper that said "This is not a title" until the car was paid off; this time we got the title...no leinholder, just our names.

I would never try to screw the bank out of the payments, but I do want to make sure our ownership is not somehow invalid because of the mistake. I knew there was something up when I kept getting a piece of paper from the state saying that I needed to give accurate information to recieve the title (on the original sale, the dealership messed up the VIN...it came up as a Buick. ). I tried fixing it and sending it back, but they just kept sending it to us...until we realized that the dealership had to sign it too. We called them and they got a copy and signed...no more problem (till we got the title in the mail :P ).

Oh, well. It is fun to think about.