Does PrivateAuto Handle Loan Payoffs?
Yes! You can sell a car with an outstanding loan on PrivateAuto. The platform offers a Loan Lookup and Payoff feature, making it simple to handle private-party vehicle sales involving existing loans. This feature streamlines the loan payoff process, ensuring a transparent and hassle-free experience for both buyers and sellers.
Key Features of Loan Lookup and Payoff:
- Instant Loan Balance Lookup: Sellers can quickly access accurate payoff quotes without contacting their lender directly or waiting for mailed responses.
- Self-Directed Loan Payoff: Sellers can seamlessly integrate the loan payoff into the transaction process.
- Transparency for Buyers: Buyers gain peace of mind with clear visibility into the lien release and title transfer process.
- Escrow-Like Safeguards: PrivateAuto eliminates the need for intermediaries, offering a secure and efficient solution for managing transactions.
Benefits for Sellers:
- Sell vehicles with outstanding loans confidently.
- Avoid low trade-in offers from dealerships and maximize your returns.
- Complete the entire transaction online, including the loan payoff.
Benefits for Buyers:
- Enjoy peace of mind knowing the loan payoff and lien release are handled securely.
- Gain transparency throughout the transaction process.
- Access a wider selection of private-party vehicles, including those with existing loans.