Currently negotiating price with a dealer on a new car and the quote has a $60 lein fee in it. I don't know what this is. Help? In Ontario, Canada if that makes a difference.
I'm not so much worried about the $60 as I am the word "lein" - honestly I don't understand what a lein is but I know it has something to do with repossession/lack of payment. I'm paying for the car so I don't understand why its there in the first place.
If you are financing a car, the finance company has a "lein" on the car, which means you cannot transfer the title without their authority (which they will only give the OK on if you pay off the loan).
Firstly, a lien does not mean repossession or lack of payment. It means someone holds an interest in a piece of property. Usually a bank who has an interest in a car because they loaned money for its purchase.
Here in the states you pay a lien fee to register the loan you are taking out on the vehicle you are purchasing.
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