Selling with finance owing
Plenty of private vehicles still have a loan on them. You can sell yours safely, as long as the lender is paid first.
1. Get your payout letter
Ask your lender for a written payout figure with an expiry date and the account it must be paid into. Payout figures change daily, so request a fresh one near settlement.
2. Disclose it upfront
Note the finance in the History step. A PPSR search may show a registered security interest. A clear result is not proof that no loan exists; check with your lender.
3. Agree the split
The buyer pays the lender the payout amount and pays you the balance. If you owe more than the sale price, you cover the gap before settlement.
4. Confirm payout and release
Independently confirm payment instructions with your lender using a trusted contact number, not just details in a forwarded letter. Agree the settlement sequence with the lender and buyer. Ask when any registered security interest will be discharged and obtain written confirmation; release may not be immediate. Never rely on a payment screenshot before handing over the vehicle.
Compared with Carsales
No upfront ad fee. Automotif charges 0.6% only when you sell, capped at $399.
Compared with Facebook
Effortful first messages, protected contact details and a $100 deposit hold help keep enquiries focused. They do not verify a buyer’s identity or guarantee payment. The vehicle balance is arranged between the parties, not held in escrow by Automotif.
General information only, not financial or legal advice. Check your lender’s process.
List a vehicle