How the payoff works
- Ask your lender for a 10-day payoff quote and their payoff instructions.
- Get a cash offer from us. Tell us there's a loan when you fill out the form.
- If you accept, we send the payoff amount straight to the lender.
- If our offer is more than the payoff, you get the rest at pickup.
- The lender releases the lien and the title comes to us. You're done with the loan.
No obligation.
If you owe more than the car is worth
That's called negative equity, and it's common in the first few years of a long loan. You can still sell, but the gap has to be paid to the lender before they'll release the title. Some sellers cover it from savings, and some roll it into another loan. It's worth comparing the gap with what you'd keep paying if you held on to a car you don't want.
| Positive equity | Negative equity | |
|---|---|---|
| Our offer | $9,000 | $9,000 |
| Loan payoff | $6,500 | $11,000 |
| What happens | We pay the lender $6,500 and you get $2,500 | We pay the lender $9,000 and you pay the remaining $2,000 |
- Positive equity:
- $9,000
- Negative equity:
- $9,000
- Positive equity:
- $6,500
- Negative equity:
- $11,000
- Positive equity:
- We pay the lender $6,500 and you get $2,500
- Negative equity:
- We pay the lender $9,000 and you pay the remaining $2,000
Selling a leased car
If you lease, ask the leasing company for the buyout amount and whether they allow third-party buyouts. Policies differ by lender. If they allow it and our offer is above the buyout, the difference is yours.
Frequently asked questions
Do I need the title if there's a loan?
No. Your lender holds the title until the loan is paid. We pay them, and they release it.
How long does the lien release take?
It depends on the lender, usually anywhere from a few days to a few weeks. You're paid any equity above the payoff at pickup either way, and we pay the lender directly.
Can I sell a car with a loan from a buy-here-pay-here dealer?
Usually, yes. We'll need a payoff letter from the dealer showing the amount and where to send it.
Reviewed by the Car Emptor team. Last updated November 6, 2026.