Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Dean,

The fee for a title in Illinois is $65.00. You're in Chicago, right? We're talking about two titles, right?

Yes and yes. My current plan is to stick with the strategy that you outlined where I am keeping the title, lien release letter and the "paid in full" copy of the contract.

Did the letter suggest a reason for applying for a "corrected" title other than the desire of the State of Illinois to have some more of your money?

Here is the verbiage of the relevant sections:

#1: Enclosed is your vehicle title with a signed and stamped confirmation that you have paid-off your account. Please submit this title to your local DMV and they will issue a lien-free title in your name alone. If you decide to sell your vehicle, simply sign your title over to the new owner.

#2: We are enclosing your Certificate of Title, or similar lien release documentation, and any other required documents related to the financing of your vehicle. Keep this information in a safe location since you will need it for any future sale or transfer of the vehicle. We encourage you to re-title the vehicle immediately upon receipt of the title/lien release document since all records maintained by your state of residence will continue to reflect our lien on the vehicle until you do so.

It sounds like they are just trying to send some more money towards the State of Illinois in title fees.

Thanks for the confirmation.

dt
Print the post  

Announcements

Beware Flood-Damaged Cars
Know what you are getting, don't get stuck with a Katrina victim. Check these links before you buy.
Disclaimer - Please Read
A message about professional advice.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.