Background and Context........................................................................................................... 3. B. Purpose of this Guidance .......................................................................................................... 4. C. Target Audience, Status and Content of the Guidance ............................................................ 5. D. Scope of the Guidance: terminology, Key features and business models................................
A lien holder is someone who has either leased a vehicle to you with an insurable interest, or given you money on loan to buy it. The lien holder is usually a bank or another financial firm. When insuring your car, the lien holder is also included on your policy. This will protect the lien holder in the event that you are in an accident and damage the vehicle. The lien holder has a secured interest in the car.
1 The out-of-state vehicle title. 2  If a lienholder has the title, get a copy of the front and back of it from the lienholder to use in your application. 3  If you do not have a title or a copy of it, contact your local licensing office for instructions. 4  An odometer disclosure statement for vehicles up to 10 years old.