It can become a tricky issue, trying to sell your financed car, truck or van. The biggest problem is that you don’t have the title to hand the buyer, once the transaction is completed. Some people are leary of purchasing a financed vehicle from a private person. Anyone that is buying your financed car, will have to hand you ( the seller) the money, however the paty that is buying the vehicle from you can not register the vehicle yet, until the vehicle is paid for in full and you have the title to present to motor vehicle. The seller should show proof of the amount he owes the bank. There also has to be some level of trust, to hand over large amounts of money to an ‘unknown person, then to wait up to six weeks before you can get the title. First, this involves the seller sending the money to their financier. Now the seller needs to be very certain that the buyer sends enough money…if it doesn’t get there by the stated payoff date, it could end up costing more to pay the vehicle off. Then the bank has to process the payoff and deposit the money. The longest wait is for the bank to clear the title and mark it paid off. Once this is done, it gets placed in the mail. When the seller receives the title, he should hand it over to the buyer because the buyer has already paid for the vehicle, correct? This is not always the case,some times, the seller tries to keep the vehicle longer, until you threaten to take them to court. What if the seller kept driving the vehicle, and got into an accident with it? Better yet, what if he ran it low on oil and ruined the engine? Who’s out then? Not the seller! He still has ownership of the car (title!), so if the insurance pays it off, it would be to either the seller OR the bank (if they bank has not yet received YOUR money!). At this point, you are out hundreds, possibly thousands of dollars, AND a vehicle! Hence the biggest problem of selling your financed vehicle, is getting a seller to agree to wait, wait, wait for the title.
The best way to sell your financed vehicle is to our Mobile buying company. We have been in business since 1984, in the New Jersey/New York area. You call 1-800-573-2279. Or visit our website at ‘Cash4Carz.com’. We ask you a couple of questions about your vehicle, and give you a quote. Right over the phone! Within a few short hours (or less), at the location YOU choose, we will be there with cash. CASH! In your hands! We give the best prices on used cars, trucks and vans. We pay cash. And we come to you at the location you prefer! It just can’t get any easier than that.
Don’t fret if your car needs body or mechanical work. We buy ‘as is’. We buy all makes and models 1999 and newer. Don’t forget, 1-800-573-2279.
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