Lower your car payment in Mississippi

What’s different about refinancing a car loan in Mississippi

Vehicle titles in Mississippi are issued by the Mississippi Department of Revenue, Motor Vehicle Services (Title Bureau).

• When a Mississippi vehicle loan is paid off, any lienholder that has a federal Employer Identification Number must electronically transmit the satisfaction, release and discharge of the lien to the Department of Revenue no later than fourteen days after the date the lien was satisfied. A lienholder that knowingly and willfully fails to do so is also made liable for the attorney's fees, legal fees and other costs a person incurs in any action necessary to discharge or release the lien.

  Source: Mississippi Legislature, House Bill 1589 (2024), amending Miss. Code § 63-21-16

• Mississippi runs a mandatory electronic lien and title program. Where liens and lien satisfactions are transmitted electronically, the statute provides that a certificate of title need not be issued at all until the last lien is satisfied, at which point a clear certificate of title is issued to the owner. Lienholders with a federal Employer Identification Number must enroll through one of the Department of Revenue's approved service providers rather than dealing with the Department directly.

  Source: Mississippi Legislature, House Bill 1589 (2024 Regular Session), amending Miss. Code Ann. § 63-21-16(13)-(14)

• Because the existing lender holds the Mississippi certificate of title, a second institution seeking to be shown on that title must prepare the title application, obtain all required signatures, and forward the completed package to the first lienholder. The first lienholder compares the application against the original title, and if satisfied as to ownership, accuracy and lien priority, must attach the certificate of title and forward everything to the Department of Revenue within three working days.

  Source: Mississippi Legislature, House Bill 1589 (2024 Regular Session), amending Miss. Code Ann. § 63-21-16(5)-(6)

• After default a Mississippi secured party may take possession of the vehicle either through judicial process or without judicial process, but self-help repossession is permitted only if the secured party proceeds without breach of the peace. Before disposing of the vehicle it must send the debtor and any secondary obligor a reasonable authenticated notification of disposition, and in a consumer-goods transaction that notice must describe any deficiency liability and give a telephone number from which the redemption payoff amount can be obtained.

  Source: Mississippi Legislature, Senate Bill 2626 (2001 Regular Session), enacting Miss. Code Ann. §§ 75-9-609, 75-9-611 and 75-

• Mississippi's redemption statute functions as a reinstatement right rather than a full payoff demand. A debtor may redeem the vehicle at any time before the secured party has disposed of it, contracted for its disposition, or accepted it in satisfaction, by tendering the obligations then due or past due, expressly excluding any sums that would not be due except for an acceleration provision, plus reasonable expenses and attorney's fees. In a consumer-goods transaction this right to redeem cannot be waived.

  Source: Mississippi Legislature, Senate Bill 2626 (2001 Regular Session), enacting Miss. Code Ann. §§ 75-9-623 and 75-9-624(c) (

These are general procedural facts about Mississippi, not advice about your loan. Rules change, and your lender’s own process may add steps — a licensed specialist can tell you what applies to your situation.