How to Obtain an Automobile Title From Chrysler Creditby Trudie Longren
Chrysler Credit, today known as Chrysler Financial, is the automobile financing wing of Chrysler, the American-based car manufacturing giant. Chrysler Financial began in 1964 under the name of Chrysler Credit in Detroit, Michigan, and over the decades spread to other areas in the Americas. Today, Chrysler does business in the United States, Canada, Mexico and Venezuela. Following a restructuring and termination of its commercial financing operations in 2009, the company began to offer consumer retail financing products and, as of 2010, managed a portfolio of approximately $17 billion. Consumers who finance vehicles through Chrysler Financial may request title to the vehicle upon full satisfaction of the loan by following a few simple steps.
Obtain the full pay-off amount of the vehicle to which you seek title from Chrysler Financial. When a vehicle is financed by a credit corporation such as Chrysler Financial, the company places a lien on the vehicle title until the loan is paid in full. Chrysler Financial's website provides a toll-free telephone number (800-556-8172) that customers with questions about titles may call.
Pay off the total amount of the loan. Remit the total amount due on the car loan to Chrysler Financial. Verify that the amount is applied to the loan and that the loan account is closed.
Request a lien satisfaction or release of lien from Chrysler Financial. Call the toll-free number and request a lien satisfaction or release of lien from Chrysler. This document is proof that the loan has been fully repaid and that you have right to title to the vehicle free and clear.
Present the lien satisfaction or the release of lien to the Secretary of State or Department of Motor Vehicles in your state. Some states require that the loan provider (Chrysler Financial) deposit the title to the vehicle with the state during the period that the borrower is repaying the loan, while others permit the title to remain with the loan provider. Present the evidence of lien satisfaction to the proper state authority to retrieve title or present the information to Chrysler Financial and request that the company transfer the title to the vehicle to you in your name.
Pay the fee for putting the title in your name. Most states require vehicle owners to pay a fee to the Department of Motor Vehicles to have title transferred. Pay the fee and get an original title document for your vehicle.
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