Thursday, April 4, 2013

How to Get a GMAC Lien Released

How to Get a GMAC Lien Released

GMAC is a financial institution that provides automobile loans to individuals buying new or used cars. If you choose to take out a loan to buy the car, rather than buying it outright, GMAC will place a lien on the car's title. The loan is the amount of money you must pay GMAC back for the purchase of the car, while the lien is the legal claim GMAC has on the car you purchased. The lien can be removed only when the loan is paid in full. Once the lien has been paid, GMAC will issue a lien release.

Instructions

    1

    Call GMAC's customer care line at 800-200-4622 and request a payoff amount. This is the amount you must pay in order to get your lien released.

    2

    Pay the full amount owed. You can pay in installments, but you won't get the lien released until the entire balance has been paid.

    3

    Call GMAC's customer care line again and provide them with your car's make, model, year, VIN number, state of the title and your name as it is written on the title. GMAC will verify that you have paid your debt and will then issue a lien release. Wait 10 days after the payoff was made for GMAC to mail you the lien release.

    4

    Take your lien release document, along with your current vehicle title, to your local Motor Vehicle Agency. They will examine your documents and have you complete a short form. In Texas the form is called "Application for Texas Certificate of Title," but each state has its own form. A new title with the lien removed will then be issued.

7 comments:

  1. Good luck! They won't release your lien no matter how many times you contact them. You'll be stuck with a vehicle you can't sell, transfer, or get rid off.

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