Selling a car when you still owe money on it, also known as selling a financed car, requires specific steps to ensure a smooth and legal transaction. This process involves satisfying the remaining loan balance while transferring ownership of the vehicle to the buyer.
Understanding how to sell a financed car is crucial to avoid potential complications and protect both the seller and the buyer. It allows the seller to pay off the existing loan and receive any remaining equity, while the buyer can obtain clear ownership of the vehicle.