Get Motor Vehicle or Automobile Lease Between Individuals

You normally don't get a copy of the title, as that goes to the leasing company. Rarely, you may receive a title copy to register the vehicle with your state's department of motor vehicles. If you purchase the vehicle outright after the lease contract, you receive the official title at that point.

The lease company is the owner of the vehicle. The contract you have will state who is responsible for registration fees. If you paid for the registration, you may be entitled to money back from the lease company, but not the Department of Motor Vehicles.

If you finance or lease a vehicle, the dealership is required by by the bank, finance company, or leasing company to title and register the vehicle in order for a leinholder to be recorded on the title.

When someone leases a vehicle they are not legally the “owner” of the vehicle. The owner of the vehicle is technically the company that has leased the vehicle to another person for a certain fee and other agreements.

The consumer assuming the lease will also be required to visit the Department of Motor Vehicles in order to transfer the registration into their name. Depending on the state, the old license plate may go with the original lessee, requiring the new driver to get a new license plate.

You will have to search your own state's DMV and follow their rules for adding another name to a car registration. If the car in question is leased, you will need to talk to your leasing company. They may not want you to share the title of the vehicle with someone else.

Depending on the state you live in and the type of auto financing you have, you or your lender may hold onto the title. Whether or not you have the title document though, you can still drive the car and can still sell it, as long as you can pay off the loan.

A new car doesn't have a title until it is sold for the first time. Filing the paperwork with the DMV is part of the fees you pay to the dealership when you buy a car, so you don't have to make the trip to the DMV yourself. They get your new title and registration and license plates for you.

If you have a vehicle loan and your car is not yet paid off, there is no need to worry. We can give you a car title loan even if it's still being financed or you have a few payments left1.

Go to the Lender's Office To get the title quickly, you may be able to go to an office of the lender with the buyer to make the final payment and get a copy of the title. This is an efficient way to close out the loan, get the lien off of the title, get paid for the vehicle and transfer ownership to the buyer.