Call Toll Free
Total Posts: 341
Published Date: July 25, 2023
Alexandra Pencer, with a solid career in consumer finance dating back to 1994, is recognized as a trailblazer in the field of car title loans. Her vast knowledge and decades of hands-on experience equip her with the unique ability to assist individuals facing various financial dilemmas. As a renowned specialist in car title loans, Alexandra frequently shares her insights and knowledge through comprehensive writings on the subject.
If you have a car with a title loan and you’re looking to sell it, you may be wondering if it’s possible. The short answer is yes, you can sell a car with a title loan on it, but there are some important things you need to know before you do.
If you have a car that you want to scrap a car has a title loan on it, Car Title Loans California can help. With our title loan services, you can get the cash you need to scrap your car and still keep your vehicle.
It’s possible to sell a car with a title loan on it, however, the loan must first be paid off and the lien removed from the title. This is because the loan company has a legal claim to the vehicle until the loan is settled. Once the loan is repaid and the lien released, the title can be transferred to its new owner, and the car sold.
If you have a car with a title loan and you want to sell it, there are a few steps you need to take. Here’s what you need to do:
In order to be able to dispose of the automobile, it is necessary to get in touch with the bank that issued the loan and ascertain the amount owed. The entire loan must be settled before the car can be sold, as the loan provider has a lien on the title, this gives them legal ownership of the vehicle until the loan is fully paid.
Once the loan is paid in full, the lien must be removed from the title in order to transfer vehicle ownership. To do this, you will need to contact the loan company and ask them to release the lien. The loan company will then provide you with a form to sign and submit to the DMV to have the lien taken off the title.
Once you have satisfied the loan and have the lien removed, you can then commence looking for a purchaser for your vehicle. There are a few sites that buy cars with title loans, like salvage yards and car sellers. You can also attempt to sell it yourself by posting an ad in a local newspaper or online classifieds. When trying to find a buyer, make sure to survey the market and compare prices to get the best value for your car.
When scrapping a car with a title loan, follow these steps: Find the new owner, fill out necessary forms, notify the Department of Motor Vehicles (DMV) of the sale, give the buyer a receipt, and transfer the title to them.By doing so, you can release yourself from any liability associated with the vehicle and its title.
Can i sell my car to a title loan place? When selling a vehicle with a title loan, there are a few things you need to consider. These include:
Before committing to a title loan, it is important to be mindful of the potentially high-interest rates associated with them, which may lead to paying more for the car than its worth. It is suggested to do research and compare rates to ensure the best deal.
If you don’t have the funds to pay off the loan associated with the car you wish to sell, it may be beneficial to sell the car in order to fully pay off the loan.
If you sell the car to pay off the loan, you may not get as much money as you would if you sold it to a private buyer. This is because the loan company may take a portion of the sale to pay off the remaining balance on the loan.
Cars with title loans on them can be difficult to sell, especially if the loan amount is higher than the value of the car. This is because buyers may be hesitant to take on a car with a title loan on it. If you are having trouble selling the car, you may want to consider lowering the price or offering incentives to potential buyers.
Need cash fast? Car Title Loans California offers Car Equity Loans that allow you to use the equity in your vehicle to get the money you need, without having to give up your car. Contact us today to learn more about our Car Equity Loan services.
Trading Financial Credit, LLC may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. Trading Financial Credit, LLC does not offer or service student loans. California loans are made or arranged pursuant to a California Financing Law License : 603-8192. Arizona: Loans made pursuant to Arizona Department of Financial Institutions.
New Mexico: Loans made pursuant to New Mexico Regulation and Licensing Department Financial Institutions Division Small Loan Company License. Small Loan License 02069
*Credit approval is subject to Trading Financial Credit, LLC credit criteria standards. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by applicant. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.
*Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 5PM PST on a business day.
*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.