What Happens When You Pay Off Your Car Loan?
Credit Corp
JULY 20, 2020
million car loans originate every year. Car loans can take years to pay off. Firstly, paying off your car loan is a huge accomplishment. Paying off any loan isn’t always easy. In most states, your lender notifies the Department of Motor Vehicles—or BMV or other equivalent entity in your state—of the title change.
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