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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.
What else can I help you with?
How do you sell a personal financed car?
repossession
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.
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 !
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.
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
Can you privately sell a car on finance?
Yes, you can privately sell a car that is still being financed, but the process can be more complex. The buyer would typically need to pay off the remaining balance on the loan before taking ownership of the car.
