Can I Sell My Car If I Still Owe On It?

The short answer, yes. Keep reading to learn more about what goes on behind the scenes and how we take care of paying off your vehicle.

Selling your car while there is a loan on is something that Landers Buys Cars can handle for you. We take care of all the paperwork to make sure your loan gets paid off completely, efficiently, and correctly.

The car evaluation process is the same regardless of your vehicle’s title situation. We will come out to your location via a mobile appraisal to take a look at your vehicle or you can bring it to one of our buying centers. Once we confirm your bid, we will work on payment. If you have the title, we will exchange that for a check and you will get paid. But that’s not why you’re reading this page! Since you have a loan, we will make sure to get your 10-day payoff in order to correctly pay off the loan.

Then, our accounting office takes care of all the necessary paperwork to pay off your vehicle. We send all that information in a priority overnight envelope to your lender to ensure there are no delays. Once the lender processes our paperwork and sends us back the title, you’ll receive an equity check. The equity check is only applicable if you owe less than the vehicle is currently worth.

If you owe more than the vehicle is currently worth, otherwise known as negative equity or being upside down, you can also sell us your vehicle! All you have to do is provide the difference to us at the time of sale. For example, if you owe $10,000 and your vehicle is worth $8,000, you will write us a $2,000 check and we make sure the loan is paid in full and your payments still stop immediately. You will be free from the payment and are no longer responsible for that vehicle.

Ready to sell your vehicle and get rid of your monthly payments? Fill out the information for your vehicle on our homepage to get started!