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A pink slip is a colloquial name for your certificate of title when it comes to autos. It is, in essence, the document that certifies you own your automobile. When you acquire a car, you must have the title transferred to own it. A transfer of identification must be completed by the dealer or seller and submitted to the Department of Motor Vehicles (DMV) in your state. You must sign a location on the back of the existing title to complete this process. After that, the DMV will mail you an official identification certificate with your name on it. After that, you’ll receive your very own pink slip summer hill! However, if you finance your vehicle, the lienholder will usually keep the title and send it to you once your loan is paid off in full.

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