Buying a car with a lien is a common practice when the buyer does not have the full amount of money to pay for the vehicle upfront. A lien is a legal claim against a property, in this case the car, that secures the payment of a debt. When you buy a car with a lien, the lender will typically hold the title to the car until the loan is paid off. This means that you will not have full ownership of the car until the lien is released.
Buying a car with a lien can be a great way to get into a new vehicle even if you don’t have the full amount of money to pay for it upfront. There are a number of benefits to buying a car with a lien, including: