Vehicle Title
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High Quality Content by WIKIPEDIA articles! When a vehicle is financed, the certificate of title is normally held by the lender, who must release it to the purchaser once the balance is paid off. In some states, the transferred title is sent directly to that individual, but the name of the lender or lienholder appears on the title as well. In order to release the lien upon full payment, the lender sends a notarized release or other complementary document to the individual. When a car is sold from one owner to another, the title must be transferred to the new owner. This is achieved by…mehr

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High Quality Content by WIKIPEDIA articles! When a vehicle is financed, the certificate of title is normally held by the lender, who must release it to the purchaser once the balance is paid off. In some states, the transferred title is sent directly to that individual, but the name of the lender or lienholder appears on the title as well. In order to release the lien upon full payment, the lender sends a notarized release or other complementary document to the individual. When a car is sold from one owner to another, the title must be transferred to the new owner. This is achieved by requesting approval by the state DMV. The "pink slip" reference is based on California state vehicle titles that were printed on pink paper. It was referenced in the 1978 film Grease and also on the Speed Channel racing series Pinks, in the Beach Boys' song "Little Deuce Coupe", and on the game show The Price Is Right's pricing game Gas Money, where a contestant is to avoid the "pink slip" to win the game. The pink slip card also includes "Certificate of Title".