Anyone who’s bought a new car and hit that triumphant fiscal milestone paying off the loan knows that finally taking possession of the title can be challenging.
This spring the state Motor Vehicle Commission will require lenders switch to a process that’s been under testing since last May that will make that process, as well as getting a loan, easier and a little cheaper.
“The NJMVC, in partnership with Champ Titles and Tyler Technologies, continues to make progress with the roll out of the Electronic Lien and Title system that we announced in May 2024,” said William Connolly, an agency spokesperson. “We have established an April 1, 2025, deadline for all lien-holders statewide managing five or more liens annually to use the ELT system.”…