debt
 






 

Question by  Franky (21)

What does it mean to have a lien put on your car?

 
+5

Answer by  JoetteB (62)

It means that a mechanic or a bank has filed papers that give them ownership rights to your car if you default on payment for your loan or services rendered.

 
+5

Answer by  William88 (29)

It means that you gave your creditor a conditional right of ownership over your car, barring its sale or transfer without paying it off.

 
+5

Answer by  DawnKnight (39)

Basically a lien is money you owe someone, be it from purchasing the car or a loan you put you car up to get.

 
+5

Answer by  Danie (993)

A lien can happen when you do not pay the loan on time. If this is the case you should speak to the lender.

 
+4

Answer by  John (9008)

It means that the car is security for a debt. Basically, you will be unable to sell, refinance or trade your car until the lien is removed.

 
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