Wisconsin Titling/Lien Question

[roundhouse]

I found a better deal on car loan and took out a new loan, paid off the old one. Of course the new bank wants to be on the title as the lien holder. What is the best way to get the titled re-issued by the state so the only thing that changes is the old bank comes off and the new bank goes on?

The Wisconsin DOT web pages don't seem to address this directly and I figured someone here had probably been through the process. I presume I'll need to do this once the lien release comes from the original lender, I don't want to have both appear on the title. I hope to do this by mail since the nearest full service DOT office is far from where I live.

Thanks!

 

[snowbuff]

You'll have to get the lien release from the first bank and send it in with the title, along with the new lien holders information.

 

[roundhouse]

Thanks. Nothing needs to be filled in on the back of title, or does it?

 

[mustardbucket2]

I did the same thing 2 months ago - the new lender took care of everything. Gave them the old title, they sent it, the appropriate form, and the lien release from the original lender to the DMV and I received a new title in the mail about 5 weeks later showing the new lender as the lien holder. Usually the bank wants to do this for you to ensure they get listed as the lien holder.

I would ask your new bank if they provide this service. If not, I'd call the DMV and opt out of their automated system until you can get a live person to give you advice.

Good luck!