Still making payments? You can still sell your car. We buy vehicles with existing loans and help coordinate with your lender to pay off the balance. Get your cash offer today.
Can you sell a car you still owe money on? Yes — but it's more complex than selling a car with a clean title. When you have a loan on your vehicle, the lender holds a lien on the title, and the loan must be paid off before the title can be transferred to a new owner.
SellYourVehicle.com buys cars with existing loans. We help coordinate with your lender to pay off the loan as part of the sale. Whether your car is worth more than the loan balance (equity) or less than the loan balance (negative equity), we can work with you to find a solution.
Many Phoenix-area residents sell cars with loans — when upgrading, when the loan is underwater, or when they simply want to get out of a monthly payment. We've helped many Valley owners navigate the payoff process and get cash for their financed vehicles.
When you sell a car with an existing loan, the process has an extra step: the loan must be paid off before the title can be transferred. Here's how it generally works:
First, you submit your car's details through our form and let us know there's a loan on the vehicle. We make you a cash offer. If you accept, we contact your lender to get the exact payoff amount. If the offer is more than the payoff (you have equity), you receive the difference in cash. If the offer is less than the payoff (negative equity), you'll need to pay the difference to the lender to release the lien.
Once the loan is paid off, the lender releases the lien and sends the title. We then complete the vehicle transfer and pick up the car. The exact process may vary depending on your lender and Arizona title requirements — we'll guide you through each step.
If you owe more on your loan than the car is worth (known as being 'underwater' or having 'negative equity'), you'll need to pay the difference to the lender to release the lien. For example, if you owe $10,000 on the loan and the car is worth $7,000, you'd need to pay $3,000 to the lender to release the title.
This is a common situation, especially for newer cars that have depreciated faster than the loan has been paid down. We can still buy your car — you'll just need to cover the difference. We'll help you understand the exact numbers before you commit to anything.
If you're not sure of your payoff amount, contact your lender and ask for the 'payoff quote' — the exact amount needed to pay off the loan as of a specific date. Then submit your car's details to us for an offer, and you can compare the two numbers.
When we pay off your loan as part of the sale, the loan is closed and the lien is released. You no longer owe money on the vehicle, and you're free of the monthly payments. The lender sends the title (or a lien release document) to complete the transfer.
If there's negative equity and you pay the difference, the loan is also fully closed. If you're unable to pay the difference, you may need to keep the car and continue making payments until the loan balance drops below the car's value, or explore other options with your lender.
The exact process and requirements may vary depending on your lender and Arizona law. We recommend confirming the details with your lender and, if needed, consulting with a financial advisor. We're happy to discuss your specific situation and help you understand your options.
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