Can a Financed Car Be Sold?

[Grover]

A financed car cannot be sold. Below are specific details regarding financed cars: Reasons why it cannot be sold: For a vehicle purchased through financing, strictly speaking, the ownership of the car does not belong to the owner but rather to the bank or other lending institutions. The owner only has the right to use the car. Therefore, before the owner has fully repaid the loan, they do not have the right to sell the vehicle. Methods to facilitate a sale: The owner can contact a potential buyer who is willing to purchase the vehicle. The buyer can first repay the loan in full, after which the owner can transfer the car's ownership to the buyer. Alternatively, the owner can contact a used car dealer. Through the dealer, the remaining loan on the car can be repaid. Once the loan is cleared and the vehicle's registration certificate is retrieved from the lender, the car can then be transferred to the used car dealer.