How does it work if you have a loan on vehicle?

Asked by Toni2567 Nov 08, 2021 at 11:54 AM about the 2019 Mazda MAZDA3 Sport

Question type: Car Selling & Trading In

2 Answers


If you have a loan, you don't have the original title, only a borrower's copy. You pay off the loan and than they will send you the title. It's best to wait until then to list your car. If you want to sell with the loan, buyer & seller have to meet at the lender's office to pay off the loan with money received in the sale, then the lender will send the title to the buyer.

2 people found this helpful.

If you trade in a vehicle with a loan still on it the amount you owe is added to the price of the new vehicle. So you wind up paying for two vehicles. One of which you no longer have! It's not a good idea unless the vehicle is falling apart and you absolutely need to replace it! Hope that helps! Jim

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