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If your car isn't paid off at the time you wish to sell it, things are a little more complex. You need to close the loan with your lender by paying off the balance with the proceeds of the sale so that you can present a clear title to the buyer. If however, you have to sell the car for less than you owe on it, you will need to pay the balance of the loan out of your own pocket to the lender.

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โˆ™ 2014-10-07 02:13:19
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Q: How to sell your financed car?
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How do you sell a personal financed car?


You want to sell your financed car; but how does the transferring of the title work?

Contact your lender.

Why would a bank sell someone's car?

Because the bank owns the car. The person that financed the car did not pay the bank.

Where can sell a used car when it's financed?

You cannot sell a car with a lien against it without getting a lien release from the lender. To do otherwise is illegal.

What do you do with a financed car when you have to move abroad and can't keep paying it?

Sell it and pay your lender!

How can you be removed from legal ownership of your sons car that you financed through the dealership?

If you own the car, sell it to him for $1. That should solve your problems.

Can you register a financed car?

You can, should, and are legally required to register a financed car.

Can a judgment creditor take my fully financed car?

Not if it is 100% financed or on a lease. A judgment creditor can force you to sell it for its market value, pay the lender what is due on the loan and take the rest.

Is it illegal to scrap a financed car the dealership did not want?

I'm not sure what the "dealership did not want" has to do with it but it is always illegal to sell anything that is financed. This is called "Selling of mortgaged property" and I believe is a felony

My car is financed but is beyond repair an I need to know if I c an I sell it to a salvage company?

If your car is financed you cannot sell it to a salvage company. Even if the car is beyond repair it does not technically belong to you until you have finished paying for it. Once you pay the finance company off you can sell it to anyone you please. The salvage company won't or shouldn't purchase that vehicle without a clean title.

How do you sell a car that is still financed to a provate party?

Legally you can't ! The car belongs to the finance company until it's paid off !

Can a used car dealer charge more for a car if you financed it?

Yes, he can charge more and most do. He can sell the car fro whatever price he dictates. You can also walk away from this deal. It is your choice.

Car broken and needs repairs and it is financed?

car is broken and needs major repairs but is still financed how do pay for the repairs

Average amount financed for new car?

What is the average amount financed in an auto loan

How do you sell a vehicle that is still being financed?

Yes, you can sell a vehicle that is still being financed. You will need to pay the loan company the balance of the loan with the sale proceeds in order to give the buyer a clear title. If you have to sell the car for less than you owe, you will be responsible for paying the balance out of your own pocket in order to transact a legal sale.

Do you need insurance on a financed car in NJ?

You ALWAYS need insurance on a financed car, and it has to be full coverage. Doesn't matter what state you're in.

Can you sell your car even it's fianced?

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.

Can you sell your car with payments left on the loan?

Someone cannot sell his car if there are still some pending payments on a loan. It is however possible to enter an agreement with the financier so that the remaining payments can be financed by part of the proceeds from the car sale. An extra interest payment may be charged for that.

What are your options on a totaled 2005 financed car that had no insurance coverage?

You have no options! Should have got insurance There are none. You have the joy of paying off a car you no longer have. Best thing to do is try and sell it for parts.

What percentage of new car purchases are financed?

73% of new car purchases are financed, according to this website:

Can a towing company lien sale a car if car is financed?


Can you sell a car that has been bought and paid for even if you haven't paid for it?

Ok, this is a weird question, how can it be bought and paid for if it isnt paid for? So I will answer this question with what I think you mean..... I believe you are asking if you can sell a car that you have financed and owe money on..... I will answer this one. Yes, you can sell a car that you financed, but you have to sell it for nothing less than your "payoff amount". you will get the money from the buyer, and you will pay off the loan, the only problem is that it takes a week to 3 weeks to get the clean title in your hand. You will have to make a deal with the buyer that you will give it to him when it comes.

Can you register a financed car in someone else name?

no. not unless the lender allows you & it won't. you would have to sell the car, pay off the loan & then transfer title. all at the same time.

If your car is financed through a dealer do you have to have full coverage insurance?

I believe it depends on the state, but as far as I know, if you have to have full coverage on a financed car, it doesn't matter where it's financed. If you still have questions, ask your insurance person, they'll know the answer.

A financed car that's not drivable?

That's a statement, not a question. What are you asking about the car?