After your application is approved, Upstart will be working behind the scenes to pay off your prior lien holder, transfer your title, and “perfect” our lien. What does all of this mean?
Upstart will undergo a process that includes verifying the exact payoff amount of the existing loan on the vehicle, and will be responsible for sending the funds directly to the lender to release the current lien on the vehicle’s title. Subsequently, Upstart will work with your state’s Department of Motor Vehicles to ensure all state required documents are completed accurately and submitted on your behalf to record the new lien on your vehicle’s title. Upstart will also correspond with your vehicle insurance provider to obtain proof of lien holder status on your policy.