Lower your car payment in Nebraska

What’s different about refinancing a car loan in Nebraska

Vehicle titles in Nebraska are issued by the Nebraska Department of Motor Vehicles (Driver and Vehicle Records Division) — certificates of title are issued at local County Treasurer offices through the DMV's Vehicle Title and Registration System.

• Nebraska records vehicle liens electronically: once a lien is properly noted, the certificate of title is retained by the Department of Motor Vehicles in electronic format until the lien has been satisfied, so a borrower holds no paper title during the loan, and when the lienholder reports satisfaction the title is printed and distributed as the lienholder instructs.

  Source: Nebraska Department of Motor Vehicles — Lien Notations

• When a Nebraska vehicle loan is paid off, the lienholder must note cancellation of the lien and notify the county treasurer or the Department of Motor Vehicles within fifteen days after payment is received, after which the department notes the cancellation and, if no other liens exist, issues the certificate of title to the owner or as otherwise directed.

  Source: Nebraska Revised Statute 60-164 — Liens on motor vehicles; notation; release

• Under the Nebraska Installment Loan and Sales Act, a licensed installment lender may neither accelerate the unpaid balance nor take possession of collateral after a payment default until twenty days after giving the borrower written notice of the right to cure, and a timely cure restores the borrower to their rights as though the default had not occurred.

  Source: Nebraska Revised Statute 45-353 — Default; notice of right to cure

• After default, Nebraska's Uniform Commercial Code permits a secured party to take possession of the vehicle either pursuant to judicial process or without judicial process, but self-help repossession is lawful only if the creditor proceeds without a breach of the peace; the statute does not define that phrase, leaving it to the courts.

  Source: Nebraska Uniform Commercial Code 9-609 — Secured party's right to take possession after default

• A Nebraska debtor, any secondary obligor, or another lienholder may redeem repossessed collateral by tendering fulfillment of all obligations secured by that collateral plus the secured party's reasonable expenses and attorney's fees, but only before the secured party has collected the collateral, disposed of it or contracted for its disposition, or accepted it in satisfaction of the debt.

  Source: Nebraska Uniform Commercial Code 9-623 — Right to redeem collateral

• Nebraska law allows a buyer to prepay in full at any time before maturity the obligation of an installment sales contract, and where prepayment occurs after the first installment due date the holder must rebate the unearned portion of the time-price differential, computed using the actuarial method applied to the unpaid balances for the period after prepayment.

  Source: Nebraska Revised Statute 45-367 — Installment sales contract; prepayment; rebate

These are general procedural facts about Nebraska, 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.