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Financed? Yes. The person or car dealership buying the car would write a check for the outstanding loan balance to the bank that has financed the car and anything left over they would give to you. If you owe more than the car is worth, then you (the seller) would need to make up the difference, i.e. write a check for the difference between what they are buying the car for and the remaining loan balance.

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Q: Can you sell your car even it's fianced?
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