One prominent example is Carmax.
They will purchase any type of vehicle, and there is no obligation on your part to purchase a car from them.
They simply will not pay you as much for the car as an individual will.
For that reason, you owe it to yourself to try and sell your car privately first.
Will CarMax buy my car if I still owe money on it?
In some cases, the negative equity can be included in your financing when you buy a CarMax car. CarMax Car Buying Centers can accept cashier’s or certified checks and certified funds. CarMax stores also accept cash and debit cards. If the amount you owe is less than $250, we will accept a personal check.
Can you sell a car that is not paid off?
It’s certainly possible to sell your car even if the loan isn’t paid off, although it’s a slightly difficult process. It’s best to sell the car yourself, as selling a car you don’t legally own through a car dealer can be very expensive.
Can you sell a financed car?
Eliminate the debt: Technically, you probably won’t sell your car with the loan outstanding. Instead, you’ll most likely unwind the loan at the same time as (or ideally before) you sell the car. Ask your lender for a ‘payoff amount’ which will tell you exactly how much they need to release the lien on your vehicle.
Can you get a title loan on a car that is not paid off?
You are here: Home » Information » Does My Car Need to be Paid Off for a Title Loan? No! Even if you are still financing your vehicle, you could be eligible for a sizeable amount of cash with a car title loan from LoanMart1. If you have a vehicle loan and your car is not yet paid off, there is no need to worry.