Selling a Car With a Loan: Processes and Options
Selling a car with a loan can feel like an intimidating process; but it doesn't have to be. By understanding the processes and options available, you can make sure that everything goes as smoothly as possible.
First and foremost, it's important to remember that the vehicle must first be paid off before it can be sold. This means that you will need to pay off your loan in its entirety before transferring ownership of the car to another person. You may also be able to roll over any remaining balance into a new loan if you decide not to sell your car, or trade it in for something else.
Another option is to transfer the title of your vehicle directly into another name without paying off the loan extra fees may apply).
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