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We encourage you to take the releases title or lien release included with this letter to your local department of motor vehicle office to obtain a lien free title. You will need this to sell or trade your vehicle. All records maintained by your state will continue to reflect our lien on the vehicle until you do so.
What is the IL ELT program? The Electronic Lien and Title (ELT) program is a method by which the Illinois Secretary of State and a lending institution (lienholder) exchange vehicle and title information electronically.
There are a few potential pathways to getting a lien removed. First, you could pay the full debt or try to negotiate a settlement with the lienholder. Some lienholders will agree to remove the lien if you have a payment plan in place. Depending on the circumstances of your case, you may want to try contesting the lien.
Once youve paid off your car loan in full, the lender also called the lienholder should contact your local Department of Motor Vehicles (DMV) to release the lien. Once the lien is released, they relinquish their right to repossess your car.
Illinois is a title-holding state, meaning the lender keeps the car title until the loan is paid off. Once you pay off the car loan, the lender removes their name and sends you a copy of the car title.
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Though your lien holder will receive a separate document verifying their connection to the loan, you will be in possession of the title itself. There are only nine title-holding states: Kentucky, Maryland, Michigan, Minnesota, Missouri, Montana, New York, Oklahoma, Wisconsin.

lien release letter illinois