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Looking to Sell a Car with a Lien?

After deciding that you want to sell a car with a lien for cash, you will have to figure out the pay-off amount, which is the amount of money — including interest and other fees — that needs to be paid to the lienholder to get the title for the car.

Your lender can tell you the amount. It's easier to sell the car if you owe less than what it is currently worth. If you owe more, you may have to pay the difference in order to sell the car.

The next step is to decide whether you want to sell the car to the dealer or sell the car privately. Selling to a dealership can be the easier option, as they will handle all the financial paperwork for you.

The dealership will determine the value of your car and the amount it will pay (usually a good price if the car is in decent condition). After you agree to sell your car to the dealership and give them power of attorney, they will contact your lender directly on your behalf and pay the existing balance that you owe, thus satisfying your loan.

The dealership will then give you any money that's left over from the loan's balance, which can be applied to the purchase of a new car if you decide on that option. The lender will give the dealership the title to the car once the transaction is completed, and you should get documentation from the dealership stating that your lien has been satisfied and you no longer owe money on it.

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Selling Privately

The other option you have is to sell the car privately, which can sometimes help you get a higher profit. However, this usually takes more time and effort. In your listing for the car, make sure to include the lien information.

If you are able, try to sell the car locally in the location of the lien holder. After you and the car buyer have completed the sale, you can go to the lender directly to pay off the lien, upon which, they can transfer ownership of the title to the buyer.

Sell Your Car Online

Another option if you are trying to sell your car is to work with a car buying service. These businesses buy cars for a variety of reasons and are more flexible about negotiating than many private buyers and dealerships.

If you have a car that's damaged or broken-down, DamagedCars.com is your best option for getting fair market value for your car. We also have experience buying cars with liens and pay cash for cars with liens.

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Sell Your Damaged Car With DamagedCars

DamagedCars has been in the less-than-perfect car industry for more than a decade. You can get a quote for your car in just 90 seconds, then accept our offer and schedule pick-up for 24 to 48 hours out.

When the tow truck driver arrives, you get paid on the spot — it’s really that easy. Best of all, towing and title transfer are always included in our quotes, so you know you’ll get a fair market price for your car without paying a dime.

With our excellent customer service, convenient online platform, and nationwide network of partners to help us figure out what your car is worth, we promise the best experience possible for your vehicle.

DamagedCars.com picks up your damaged car nationwide, and you get paid when we pick up your car. Contact DamagedCars.com today, and get an offer for your car.

10/19/2021

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Who Buys Junk Cars With Liens Near Me?

You’re probably curious to know if you can get cash for junk cars with lien titles. Selling a car with a lien to a dealership is one option. A dealer can help with the paperwork and speak with your lender. However, you are still responsible for paying off your loan in its entirety.

Selling it might help you pay it off but you need to be sure of that. Otherwise, your lender will not allow you to make the sale since the car is still in their name. The dealership won’t accept it either.

Can You Scrap A Car With A Title Loan?

If you want to salvage a car that you still owe money on, you will have to be certain that you will earn enough to pay off your loan. Otherwise, you might be in trouble with your lender. However, a reputable salvage yard will not even accept your vehicle if you still have a loan on your car.

Can You Junk A Car With A Lien on the Title?

You might be asking, “Can you junk a vehicle that has a title loan?” After all, it’s an easy way to get rid of a broken-down car that no longer works. However, you can’t simply junk a car. Besides the fact that you might not earn enough from junking to pay off the loan, professional and trustworthy junkyards simply will not accept a car that isn’t in your name.  

At DamagedCars.com, we buy junk cars with title liens. After getting our fair-market quote, you can decide if the amount is enough to cover your loan. Either way, we can work with your lender to help you sell your car to us.

Contact DamagedCars.com today to start the process!

How Do You Junk A Car With A Title Loan?

If you’re wondering about how to get rid of a junk car with a lien, you won’t be able to just sell it to a junkyard. They cannot accept and demolish vehicles that are not in your name and having a lien indicates that your name is not on the title.