Loan Payoffs and Lease Buyouts

Loan Pay Offs

Payoff procedures vary depending on whether the lienholder is using the Electronic Lien Title (ELT) system or a paper title. Financial institutions and auto dealers who finance vehicles have been required to use ELT since July 1, 2017.

Electronic Loan Title

If your loan or lien was established on or after July 1, 2017, the lienholder will notify the DMV of the lien satisfaction. No other action is required.

Please ensure your lender has your correct address.

The new title will be mailed to the party requested by the lienholder. Titles are processed and mailed from Carson City.

You do not need to submit any paperwork to the DMV.

Paper Title

If your loan or lien was established prior to July 1, 2017, the bank or lienholder may have a paper title for your vehicle. They must sign the appropriate section of the vehicle title and mail or otherwise deliver it to you when your loan is paid off.

In this case, lenders do not notify the DMV of the payoff. If you do not have a new title issued, the lienholder will continue to be listed in the DMV records.

See No Title below if you or the lender have misplaced the title. If the misplaced title was issued in another state, you will have to get a duplicate title from the other state.

Complete the Title

Lienholder To Be Recorded Section - You must complete this section on the back of the title.

If the new Certificate of Title is to reflect a security interest in the vehicle, the lienholder’s name and address must be recorded. You do not need to complete the odometer statement on the front. Write "None" if there is no new lienholder to be recorded.

Be careful! Any alteration or erasure voids a Nevada Certificate of Title. If you plan to bring the title to a DMV office, you may wish to complete it at the DMV to ensure it is correct.

Submit the Title

Fee - The fee for a new title is $28.25 if mailed to a Nevada address or $35 if mailed out-of-state. Titles are processed and mailed from Carson City. It is not necessary to renew or update the vehicle registration.

You may submit the title at a DMV office or mail it to us to have the lienholder removed and obtain a "clear" title. It does not matter whether the title was issued in a different state as long as the vehicle is registered in Nevada.

If you choose to mail the title, for your protection, we suggest you use registered or certified mail and be sure to include an explanation letter with your full name, daytime telephone number and Nevada license plate number. Please enter your current address in the assignment of title. Mail this, the title and a check or money order payable to the DMV or a Payment Authorization form to: Nevada DMV, Title Processing, 555 Wright Way, Carson City, Nevada, 89711.

No Title

If the lienholder does not have the title and it is not an ELT document, the lienholder may complete and notarize a Lien Release form and mail this to you. You will have to complete an Application for Duplicate Title and submit both to the DMV as outlined above.

• Application for Duplicate Nevada Certificate of Title (VP 012)
  This form is for use only if the vehicle was last titled in Nevada. If you are not sure whether your vehicle is titled in Nevada or if you do not have all of the information requested, please contact the Records Section for instructions. If your vehicle is titled in another state, you must obtain a duplicate from that state.
• Lien Release (VP 186)
  Releases an ownership interest held by a financial institution or other third party.
• Payment Authorization Form (ADM 205)
  Authorizes the DMV to charge your credit or debit card for license or registration fees.

Lease Buyouts

When you purchase a vehicle (Lease Buyout) you have been leasing, a Nevada dealer and/or the lienholder will collect the sales tax and the title fee from you that is due on the sale.

The dealer will submit the title and a Dealers Report of Sale (DRS) to the DMV. A paper title will be mailed to the registered owner if there is no new lienholder.

Out-of-state dealers should give you the title, a Bill of Sale or another appropriate document. Please bring all documentation to a DMV office. A $28.25 title fee will apply.

Registration

No registration renewal or emissions inspection is necessary if the vehicle is not due for renewal.

You must have a registration issued in your name. A Nevada dealership is entitlted to collect a $5 duplicate registration fee. You will receive the new registration in the mail separately from the title.

If the dealer does not collect the $5 fee and you wish to have a corrected registration, bring the receipts and other paperwork to a DMV office.

You may also use the mail. We suggest you use registered or certified mail and please include an explanation letter with your full name, current address, daytime telephone number and Nevada license plate number. Mail this, the DRS and a check or money order payable to DMV or a Payment Authorization for $5 to: Nevada DMV, Renewal by Mail Section, 555 Wright Way, Carson City, Nevada, 89711.

If you receive an update Dealer Report of Sale, do not use it to register the vehicle again as that will create a duplicate registration.