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Once you've finished paying off your car loans, you will be able to get the lien removed. Then you can apply for a new title with the California Department of Motor Vehicles with the lienholder's name removed from the title.
The Bill of Sale must be completed by the seller and include all vehicle information (year, make, VIN, sale price, seller's name, address and signature, buyer's name, address and signature).
If the buyer does not sign the title and mail or give it to DVS, then the seller's name stays on the title of the car. If the buyer doesn't transfer the title within 10 days, the car's registration is suspended.
To find out if there's a lien against your vehicle or vessel, you can submit an inquiry online for free.
For most private vehicle sales in New Mexico, a bill of sale is not required. However, if the purchase price or odometer statement are missing from the title, then a bill of sale (form MVD-10009) is required.