If you took a loan out on your car and are still in the process of paying for it, there may be a lien on your car title.That means the car is not legally considered your property.
It offers he or she a type of collateral should they not receive full payment for what they are selling.
In New Jersey, a lien on your car title allows a lienholder to repossess a car, should you default on or cease to make payments towards your auto loan.
A lienholder is the person or company at risk of losing money in the event that a loan or bill goes unpaid.
A lienholder on your car title in New Jersey is the business or individual responsible for writing your car loan.
More information about disability placards, including how to apply for and renew them, is detailed below.