What to Do After Buying Out a Leased Car in the US: Renewal and Registration

Introduction

Receiving the title of your leased car after buying it out can be an exciting moment, but it also comes with several important steps you need to take. One crucial step is knowing when and how to renew your car registration. This article will guide you through the process, addressing common questions and clarifying key points.

Renewing Your Car Registration

The fact that you recently bought out your lease on a vehicle is irrelevant to when its registration might need to be renewed. The registration will need to be renewed when the current registration is about to expire, regardless of the month of your birth or any other personal details.

Check Your Current Registration

To determine when your car registration is due for renewal, it’s important to check the expiration date of your current registration and ensure that it is in your name. If the registration was in the name of the leasing company, you need to take the necessary steps to transfer the car title to your name promptly.

DMV and State laws

The process of renewing a car registration is typically governed by the laws of the state in which you reside. Each state’s Department of Motor Vehicles (DMV) has specific requirements. It is advisable to contact your state’s DMV to understand the exact process and requirements for transferring your vehicle title and renewing the registration.

Liens and Title Transfers

When you buy out a leased car, the lien holder (the leasing company) typically retains the title until the lien is released. Therefore, it is important to ensure that the title is reissued in your name and the lien is cleared. This process often involves submitting the old title to the DMV along with the lien release document.

Renewal at the Appropriate Time

While your driver’s license is renewed in your birth month, a car registration is not tied to your birthday. It’s best to renew the car registration when your current one expires. This helps avoid any surcharges or penalties for late registration. There is no need to pay additional fees until they become due.

Conclusion

After buying out a leased car, there are several important steps to take to ensure everything is correctly registered and protected. Contacting your state’s DMV to understand the specific requirements for transferring the car title and renewing the registration is crucial. This process ensures that your vehicle remains legally compliant and protected.

Need more assistance or specific guidance? Don’t hesitate to reach out to your state’s DMV or a local car dealer for help.