How To Sell A Financed Car . How to sell a financed car without paying it off Selling a Car AutoTrader However, if you're upside down on your loan (your outstanding loan balance is more than the vehicle's market value), you likely won't make a profit from the transaction If your vehicle is worth $20,000 and your loan balance is $15,000, then you have $5,000 worth of positive equity in your car
How to Sell a Financed Car from moneymink.com
Positive equity is when your car is worth more than what you owe This article describes all three so you can make the best choice for your situation
How to Sell a Financed Car Here's how to navigate this process: Contact Your Lender: Notify your lender of your intent to sell the vehicle However, if you're upside down on your loan (your outstanding loan balance is more than the vehicle's market value), you likely won't make a profit from the transaction If your vehicle is worth $20,000 and your loan balance is $25,000, you'll need an extra $5,000 to pay.
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How to Sell a Financed Car . If so, you'll have to pay off the remainder somehow. Inquire about the options they offer for transferring the debt.