MotoHouston.com MotoHouston.com
Register Members List Member Map Media Calendar Garage Forum Home Mark Forums Read

Go Back   MotoHouston.com > General Discussion > General Discussion (Moto Related)
Forgot info?

Welcome to MotoHouston.com! You are currently viewing our forums as a guest which gives you limited access to the community. By joining our free community you will have access to great discounts from our sponsors, the ability to post topics, communicate privately with other members, respond to polls, upload content, free email, classifieds, and access many other special features. Registration is fast, simple and absolutely free, join our community!

Register Today!

If you have any problems with the registration process or your account login, please contact us.


Like us on Facebook! Regular shirt GIVEAWAYS and more

Advertisement

Reply
Share This Thread: 
Subscribe to this Thread Thread Tools
Old 06-15-2018, 10:43 AM   #1
mcs92
Member
 
mcs92's Avatar
 
Join Date: Dec 2017
Location: Pearland
Feedback Rating: (0)
Posts: 31

Experience: 3 years

Bike(s):
2014 Kawasaki KLX250S









What needs to be done after you pay it off?

So I just paid off the balance to the lender who financed my bike and I started doing a little "what happens now?" research just to be sure I get the title and all of that. What I found so far is the lender will notify the DMV and the DMV will mail the title to me when all the paperwork is done. This I figured.

What I found interesting was one site suggested I contact my insurer to have them remove the lienholder from the declarations page so that they don't get compensation should I total the bike. That wasn't something that I had thought of.

In the theme of "things I didn't think to do" what else should I do or expect now that I paid off the note (aside from saving the money every month)? I figure I'll keep the insurance coverage the same since it's pretty cheap as it is. Anything else?

In case it's relevant, I bought the bike from Mancuso SW (59 and Bellaire), got the loan through the dealer and Capital One, insure through Geico, and reside in Brazoria County. Thanks in advance!
mcs92 is offline   Reply With Quote
Advertisement
Old 06-15-2018, 10:45 AM   #2
Bevo
Hook 'em!
 
Bevo's Avatar
 
Join Date: Mar 2009
Location: Houston-The South Loop
Feedback Rating: (0)
Posts: 26,830

Experience: 10+ years
Trackdays: 3

Bike(s):
'17 CBR1000S1 Tricolor
'14 CB1000R Matte Gray
'12 CBR1000RR (sold)
'10 CBR1000RR (destroyed)
'09 CBR1000RR C-ABS (sold)

Member Garage





Yeah, just let your insurance company know that the loan is paid off.
__________________
Quote:
Originally Posted by bumblebee View Post
"I lack skillz"
Bevo is offline   Reply With Quote
Old 06-15-2018, 10:46 AM   #3
mcs92
Member
 
mcs92's Avatar
 
Join Date: Dec 2017
Location: Pearland
Feedback Rating: (0)
Posts: 31

Experience: 3 years

Bike(s):
2014 Kawasaki KLX250S









Quote:
Originally Posted by Bevo View Post
Yeah, just let your insurance company know that the loan is paid off.
mcs92 is offline   Reply With Quote
Old 06-15-2018, 10:56 AM   #4
Japawhat02
02 Tona
 
Japawhat02's Avatar
 
Join Date: Feb 2007
Location: P-land
Feedback Rating: (1)
Posts: 7,379

Experience: 3 years
Trackdays: 3

Bike(s):
1997 XR400 TARDED









yup, youre good after that. Feels good dont it lol.
__________________
2002 Brittish Rocket
Japawhat02 is offline   Reply With Quote
Old 06-15-2018, 11:36 AM   #5
mcs92
Member
 
mcs92's Avatar
 
Join Date: Dec 2017
Location: Pearland
Feedback Rating: (0)
Posts: 31

Experience: 3 years

Bike(s):
2014 Kawasaki KLX250S









Haha yeah it does! Now that ~$200/month can go to all my other bills...

How long has it taken everyone else to get their title after final payment?
mcs92 is offline   Reply With Quote
Old 06-15-2018, 11:59 AM   #6
Kevin7909
Senior Member
 
Join Date: Dec 2014
Feedback Rating: (0)
Posts: 227












It should not take more than a few weeks.
Kevin7909 is offline   Reply With Quote
Old 06-15-2018, 12:58 PM   #7
mcs92
Member
 
mcs92's Avatar
 
Join Date: Dec 2017
Location: Pearland
Feedback Rating: (0)
Posts: 31

Experience: 3 years

Bike(s):
2014 Kawasaki KLX250S









Have any of you had to submit a release of lien to the lender to get your title? I've seen it mentioned in a few places.
mcs92 is offline   Reply With Quote
Old 06-15-2018, 04:48 PM   #8
pbfoot
Senior Member
 
pbfoot's Avatar
 
Join Date: Jun 2014
Location: Webster
Feedback Rating: (0)
Posts: 976

Experience: 10+ years

Bike(s):
2006 Kawasaki ZG1000









Quote:
Originally Posted by mcs92 View Post
Have any of you had to submit a release of lien to the lender to get your title? I've seen it mentioned in a few places.
No.
pbfoot is offline   Reply With Quote
Old 06-15-2018, 08:08 PM   #9
Zapata
a.k.a Dos Equis
 
Zapata's Avatar
 
Join Date: Apr 2005
Location: Oak Ridge North/Katy
Feedback Rating: (5)
Posts: 2,756

Experience: 10+ years

Bike(s):
'12 BMW R1200RT
'11 HD Softail Fatboy
'06 HD StreetRod VRSCR


Member Garage





You can also get a release of lien letter from the bank to keep for your records.
__________________
BMW Riders Association International
Regional Director Texas

http://bmwra.org/
Zapata is offline   Reply With Quote
Old 06-17-2018, 01:46 PM   #10
trunxgp1224
Senior Member
 
Join Date: Apr 2011
Location: South SW Side
Feedback Rating: (0)
Posts: 2,848












The bank will automatically send the title and release of lien to the address on record. just tell your insurance you no longer have a lien, Ive never been asked for a copy of the release but yours might. I don't call, I can do everything online.

Two options with the title itself when it comes in. Keep the title and release in different places. Two reasons; if you lose the letter you can't do anything with the title, if you lose the title you can't get a copy without the letter. Also convenient should the bike and title get stolen, title is worthless without that release of lien letter and only you can request another one.

Or, you can go down to the tax office with the title and letter, pay $30ish and have the lien holder removed, they'll then issue you another title with no lien holder listed and you'll never have to worry about losing it or the bank up paperwork claiming they still own it.
trunxgp1224 is offline   Reply With Quote
Reply


Thread Tools

Advertisement


All times are GMT -5. The time now is 08:27 PM.


MotoHouston.com is not responsible for the content posted by users.
Privacy Policy