Can a Car with a Loan Be Sold?
2 Answers
A car with a loan can be sold. Here are some precautions regarding vehicle operation: Pre-departure inspection: Conduct a comprehensive check of the vehicle every day before setting off, including checking for oil or water leaks, measuring tire pressure to ensure it is appropriate, inspecting the engine oil condition to verify its color is normal and the level is correct. Safe driving: Use seat belts correctly, as they provide protection no less effective than airbags in the event of a severe collision. Avoid fatigue driving; take a break every 2 hours. Obey traffic rules: Especially on highways, do not speed. Speeding not only risks traffic police penalties but, more importantly, is unsafe.
It can be sold, but the loan issue must be properly handled. I had a similar experience where there was still 20,000 yuan outstanding on the car loan. I first called the bank to confirm the remaining balance, and the buyer's payment was prioritized to pay off the loan. Once the loan was cleared, the bank released the lien. Then, the ownership was transferred to the buyer's name, with the entire process completed at the DMV to avoid any issues. Selling a car with an outstanding loan is more complicated than selling one that's fully paid off, but it's quite common. Many people do this when they need to change cars due to moving or financial changes. The key is to never conduct a private transaction where the buyer pays you directly without paying off the loan, as this carries significant risks of debt remaining. It's safer to go through a reputable dealership or use a platform to handle the transaction, even though there may be fees involved—it saves a lot of hassle.
