When you’ve paid off your auto loan, obtaining a lien release from the bank is crucial to update your vehicle’s title. Below is a sample letter you can use to request an auto lien release from Bank of America. This template will help you draft a professional letter, ensuring you include all necessary information.
Auto Lien Release Sample Letter To Bank Of America
[Your Name][Your Street Address]
[City, State, ZIP Code]
[Email Address]
[Phone Number]
[Date]
Bank of America
[Bank Branch or Department Name]
[Bank’s Street Address]
[City, State, ZIP Code]
Subject: Request for Auto Lien Release
To Whom It May Concern,
I am writing to request a lien release for my vehicle, which has been fully paid off as per our loan agreement. Below are the details pertaining to the loan and the vehicle:
- Name on Loan: [Your Full Name]
- Loan Account Number: [Your Loan Account Number]
- Vehicle Make and Model: [Vehicle Make and Model]
- Vehicle Identification Number (VIN): [Vehicle VIN]
The final payment was made on [Date of Final Payment], and I have ensured that all obligations under the loan agreement have been satisfied. I kindly ask you to process the lien release and send the necessary documentation to the address listed above.
Please let me know if there are any forms I need to complete or further information I can provide to facilitate this process. You can reach me at [Your Phone Number] or [Your Email Address] for any follow-up questions.
Thank you for your prompt attention to this matter.
Sincerely,
[Your Signature (if sending a hard copy)][Your Name]
Tips for Requesting an Auto Lien Release
- Include All Necessary Details: Ensure that you provide complete information about the loan and vehicle, such as the VIN, loan account number, and your contact details.
- Verify Payment Completion: Before sending the letter, confirm that all payments have been received and applied by the bank to avoid delays in processing.
- Follow Up: If you do not receive a response within a reasonable time frame, follow up with the bank via phone or email to confirm receipt and status of your request.
FAQs on Auto Lien Release Letters
- What is an auto lien release?
An auto lien release is a document from the lender stating that the borrower has paid off the loan, and the lender no longer has a legal right to the vehicle. - How long does it typically take to receive a lien release?
After the loan is fully paid, it typically takes a few weeks for the bank to process and send the lien release. - Can I request a lien release online with Bank of America?
Yes, some banks offer the ability to request lien releases online or via their customer service portals. - What should I do if I lose the lien release document?
Contact the bank immediately to request a duplicate copy; keep all documents related to the loan and release in a safe place. - Is there a fee for obtaining a lien release?
Most banks do not charge a fee for issuing a lien release upon loan satisfaction, but it’s best to confirm with your specific lender.