Many car owners in New Jersey have financed vehicles but may need to sell them before paying off the loan. If you’re asking, “Can I sell my financed car in NJ?”, the answer is yes—but the process is slightly different. NewJerseyCash4Cars can help make this process simple and hassle-free.
What Does It Mean to Sell a Financed Car?
If your car is financed, it means that a bank or lender holds a lien on the vehicle. This means you don’t fully own the car until you finish making payments.
Steps to Selling a Financed Car in New Jersey
1. Check Your Loan Balance
Contact your lender to find out the payoff amount—this is the remaining amount you owe on your loan.
2. Determine Your Car’s Value
Use online valuation tools or request a free quote from NewJerseyCash4Cars to see how much your car is worth.
3. Decide How to Pay Off the Loan
- If Your Car is Worth More Than the Loan
- Example: You owe $5,000, but your car is worth $7,000.
- You sell it for $7,000, pay the lender $5,000, and keep the remaining $2,000.
- If Your Car is Worth Less Than the Loan (Negative Equity)
- Example: You owe $10,000, but your car is worth $8,000.
- You will have to pay the $2,000 difference to fully pay off the loan.
- Some lenders allow loan rollovers, where the remaining balance is added to a new car loan.
4. Get a Trusted Buyer Like NewJerseyCash4Cars
Selling a financed car to a private buyer is difficult because they won’t want to deal with loan paperwork. NewJerseyCash4Cars makes it easy!
- We handle all lender paperwork to ensure a smooth transaction.
- We pay off your loan directly and provide you with any extra cash.
- No need to wait weeks—we offer same-day payments.
Why Choose NewJerseyCash4Cars for Selling a Financed Car?
✅ We buy cars NJ-wide, whether they are fully paid off or still under financing.
✅ Fast and easy transactions with no paperwork hassle.
✅ We offer quick cash for cars NJ, even if they still have an outstanding loan.
✅ Trusted and secure payments, so you don’t have to worry about getting scammed.
Sell Your Financed Car Today!If you’re ready to sell your financed car in New Jersey, contact NewJerseyCash4Cars today. We’ll pay off your loan and give you the best cash offer for your car.