Can You Sell a Vehicle You Still Owe Money on?

Do you have extra vehicles in your life? Or perhaps you just have a vehicle that is costing you too much money with its remaining payments. You may be in luck. There has never been a better time to sell a used car than right now. What about a car that you took out a loan to buy and you still haven’t paid off. Can you sell a vehicle you still owe money on? At The Car Depot in Birmingham, we can help.

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Does a Lien on a Title Prevent You from Selling Your Car?

A lien on a title can feel like an albatross around your neck when you want to get rid of a car, but all that lien really means is that there is someone that is owed money before the car can be sold. This can make it difficult to sell privately, but a business that specializes in buying cars, like The Car Depot in Birmingham can work with you and your loan provider to enable you to part with your car, pay off your loan, and, in many cases, leave with cash in your pocket.

Read More: Should You Avoid Selling Privately?

Can a Bank Prevent You from Selling Your Car?

A bank cannot prevent you from selling a vehicle outright, they will simply demand a payoff amount. This amount may be slightly different than the remaining balance on the loan, however, you can request a payoff amount at any time and that amount will be good for 10 days.

This means you have 10 days to pay that payoff amount and then the bank will release your title to either you or your buyer. It can be a lot, but The Car Depot can help you through the entire process and keep things easy.

How The Car Depot Works in Birmingham, AL

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You’ve seen a lot of car buying sites spring up and grow in popularity over the last few years, but what makes The Car Depot different? There are three simple things that make us different. 

  1. We are local, based right here in Birmingham, AL. This means you can always come to us if you have an issue.
  2. The Car Depot can complete the sale of your car today. No need to wait for someone to come out to you, and no need to wait for your car to be picked up either.
  3. We deal in cash. Don’t wait days for a deposit to hit your bank account. We can give you cash for your car.

To put it simply, The Car Depot is your local car selling option that will give you cash for your car today. 

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