Selling your car can sometimes be a tough decision. This decision can be due to an urgent need for expenses, to get rid of your old and scrappy car, or you have got a new car from your company. The reason could be anything, but selling your car is simple if there are no formalities left. But if it is financed, then you still need to pay money on the repayments, and cash for cars Toowoomba can become difficult.

However, in many cases, it is possible to sell a car in finance, and it is legal to do so. However, there are some steps to follow to have a smooth sales process.
- Get in touch with your lender.
Before you finalise anything, it is essential to get in touch with the lender. The car is owned by the lender, and getting their approval is essential before selling it. Most lenders agree to sell a financed car by paying off the outstanding loan amount with the sale money along with the other fees. This will help you plan the next step.
- Find a reliable buyer.
After getting the lender’s approval and understanding the costs involved, it is time to advertise and find a reliable buyer. However, it is essential to be transparent about everything and avoid breaking any law. This will give the buyer confidence and help them get a satisfactory deal. Or you can always look for cash for cars Capalaba option as they handle such situations every now and then.
- Arrange the payment
To proceed with the sale, there are two payment options available. The first option involves where the buyer can pay off the outstanding loans to the lender, and the rest of the money can be transferred to your bank account. The second option is where you take the entire payment from the buyer and pay off the loan or other fees yourself. This option requires solid trust from the buyer.
- Seek a release letter from the lender.
After paying off the loan using either of the two methods, it is time to seek a release letter from the lender. This ensures that your loan is paid and the car doesn’t belong to them. Plus, the buyer needs to register the car in their name and ensure no more loans are placed on the car.
- Transferring of car ownership to the buyer
The next step is to transfer ownership of your car to the buyer. This is done by signing the registration papers and also submission of release letters from the lender. This is how to work out cash for cars Toowoomba under finance.

Conclusion
There are many people who are still confused about whether selling a car under finance is legal or not. It is legal, but there are some consequences whether you don’t pay the complete loan or sell the car and keep the loan. However, Prime Cash for Cars is always there to help you out with their cash for cars Capalaba services. We will clear all your doubts related to selling your cars under finance. Our contract terms are simple and sorted. Selling your car with finance with us will sort many things for you. With us, you can be secure and get quick cash.