Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
How to sell a car that is currently financed and by an online-only lender?
cwrighta70
Member Posts: 0
I am looking to sell my car, and it is currently financed through Santander Consumer which is an online-only lender. Generally speaking, when someone buys a financed car from a private party, they can accompany the seller to the bank to pay off the note, then receive the title. Unfortunately, I won't be able to offer that luxury which, I'm sure, will scare away many potential buyers.
I have contacted the lender, and they will only release the title 20 days after the balance has been paid off. I can't imagine a buyer being okay with paying thousands of dollars, then waiting 20 days to take possession. And I can't imagine turning the car over to someone without a title and before the payment has officially processed. How can I safely and securely facilitate the sale while making the buyer as comfortable as possible?
I have contacted the lender, and they will only release the title 20 days after the balance has been paid off. I can't imagine a buyer being okay with paying thousands of dollars, then waiting 20 days to take possession. And I can't imagine turning the car over to someone without a title and before the payment has officially processed. How can I safely and securely facilitate the sale while making the buyer as comfortable as possible?
0
Comments
Realizing that not everyone has the resources to make that possible.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator