Civil Litigation
Financing a Vehicle – Liens & Auto Equity Loans
When a vehicle is financed through a bank, the bank becomes a “secured party” in relations to the vehicle. This means that the bank now owns a financial interest in the vehicle, secured by the vehicle itself. Therefore, the information about the bank’s interest in the vehicle has to be put on the certificate of title, along with the borrower’s information.
Eric Gros-Dubois
April 13, 2020