Can a Financed Car Be Sold?

[DiJack]

In principle, a financed car cannot be sold. Here are the specific details about financed cars: 1. Reasons why it cannot be sold: For a vehicle purchased with a loan, strictly speaking, the ownership of the car does not belong to the owner but is under the name of the bank or other lending institution. The owner only has the right to use the car, so before the owner pays off the loan, they do not have the right to sell the vehicle. 2. Special circumstances: The owner can contact a potential buyer who is willing to purchase their vehicle. The buyer can first pay off the loan, and then the owner can transfer the car to the buyer's name. Alternatively, the owner can contact a used car dealer, who can pay off the remaining loan on the car. After obtaining the vehicle's registration certificate from the mortgage holder, the car can then be transferred to the used car dealer.