I received a title for my financed M3?!

[Yuey]

Today, I received the title for my financed Model 3, I placed the order three month ago, and got the car about one month ago. From my understanding, I will received the title after I pay off the car. Is Tesla doing anything differently? Anybody else who financed a Tesla got their title?

 

[Luso7]

Today, I received the title for my financed Model 3, I placed the order three month ago, and got the car about one month ago. From my understanding, I will received the title after I pay off the car. Is Tesla doing anything differently? Anybody else who financed a Tesla got their title?

Sounds like a mistake. The lender should have it until you pay off the lien

 

[ilyak]

Edit: after some googling, I see that this does, in fact, differ from state to state. In some states, the borrower holds the title with a lien marked on it. In other states, lender holds the title until the loan is repaid. Here’s a list: The state title office sent me the title to my vehicle. Is there anything I need to do? - Santander Consumer USA

 

[Yuey]

Edit: after some googling, I see that this does, in fact, differ from state to state. In some states, the borrower holds the title with a lien marked on it. In other states, lender holds the title until the loan is repaid. Here’s a list: The state title office sent me the title to my vehicle. Is there anything I need to do? - Santander Consumer USA

Thanks for the reply! I financed another car in Washington State before my M3. I don't see the title until I paid it off. Also, for the Tesla title, my name is the only owner appeals on the title. Very odd!

 

[BikerPeaBody]

yeah in Maryland they give you the title after a few weeks or so if you financed
doesn't mean much though because you can't sell the car because title has a lien on it
once you finish paying you'll get a new title with the lien removed and then you have full right to car and sell if you wish

 

[SMAlset]

Pretty sure in both Illinois and California that when my cars where financed, I received the title but with a lienholder listed.