How to Add Loan Payoff Service to Deal

1. In order to purchase the Loan Payoff service, both buyer and seller must be added to the deal. You can follow this help article to get started: How to Create a DealNow Deal

2. Once both buyer and seller have joined the deal and have confirmed the offer amount in Step 2, the seller will select "Yes, Financed" beside Do you have a Payoff? From there, the option to purchase the Loan Payoff and Title Release service will appear for you to purchase.

3. After clicking Purchase, this pop-up will appear and you will click "Get this service"

4. Enter your credit card information to purchase and the service and click the "Purchase loan payoff" button

5. Once you have purchased the service, you will click "Check my loan estimate" to pull in your car loan details

6. Select the car loan that you would like the payoff service for and click "Select auto loan"

7. Next you will click the "Upload document" button to upload a copy of your loan payoff details

8. You will click the "Add a document" button to add your loan payoff details and then you will click "Submit for review"

9. From there, the PrivateAuto team will review the loan payoff document and add the payoff amount to the deal

10. Within the title step of the deal, the buyer will confirm the address they would like to have the title mailed to and click "Yes, mark as confirmed"

11. Once the PrivateAuto team has confirmed the loan payoff, the buyer confirms the title section, and both buyer and seller have signed all documents within the documents section of the deal, you can now move on to the final step of payment. The buyer will see a "Start Transfer" button and a breakdown of how the funds will be distributed between paying off the loan and proceeds to the seller.

12. When the transfer is initiated, the seller will instantly receive the proceeds and the PrivateAuto team will be mailing a certified check via overnight mail to the bank that holds the loan. Once the bank processes the check and payoffs the loan, they will mail the title to the buyer.