I still owe money on my car loan. Will you still buy my car?
Yes, we will. We will arrange for the settlement of any outstanding balance on your car loan. You just need to provide us with a 10-day pay-off letter from your finance company detailing your outstanding loan amount. We will pay off the loan and deduct this amount from the money you are paid for selling your car. If your vehicle is worth more than the pay-off amount, we will provide you with a check for the positive equity. If your vehicle is worth less than the pay-off, this is known as negative equity, and you will have to pay the difference to us by cashier’s check or credit / debit card payment. In either case, we will pay the finance company directly.
Note that payment from us will be received by your finance company within 3 to 4 business days, however it may take your finance company anywhere from 5 to 10 business days before crediting the funds to your account.
