Sell a Financed Car in Ontario
Sell a Financed Car in Ontario — We Handle the Payout
Owing money on your car does not stop you from selling it. We can request a payout figure from your lender, pay it off, and give you the difference if your car is worth more than you owe.
- Loan or lease? Tell us on the form
- We handle lender payout and paperwork
- Clear explanation if you owe more than it is worth
Get Your Offer
Takes about 30 seconds. Estimates are preliminary; your final offer is confirmed after an in-person appraisal.
How selling a financed car works
When a vehicle has a loan, the lender has a claim on it until the balance is paid. To sell it, that balance has to be settled so ownership can transfer cleanly to the new owner.
We take care of that. With your permission we request a payout figure from your lender, deduct it from your confirmed offer, pay the lender, and give you whatever is left. If the lender needs paperwork from you, we tell you exactly what.
Positive or negative equity
Positive equity
Your car is worth more than you owe. The difference is yours.
Break-even
Offer roughly equals payout. We close the loan and you walk away debt-free on that vehicle.
Negative equity
You owe more than the car is worth. We will explain your options clearly, with no pressure.
What to have ready
Lender name, account details if you have them, your vehicle ownership, a valid photo ID, all keys and fobs. The more you can tell us up front, the faster we can get a payout figure and a confirmed offer.
Selling a financed car in Ontario: common questions
Can I sell a car I am still paying off?
Yes. The loan has to be paid out as part of the sale. We can request the payout figure and handle the payment to your lender.
What if I owe more than the car is worth?
Call us and share the details. We will explain the options before you decide anything.
Can I sell a leased car?
Often yes, depending on your lease company. Contact us with the lease details and we will tell you what is possible.
How long does it take?
Often the appraisal takes 20 to 30 minutes. The payout depends on your lender, so we tell you the expected timeline before you sign.
Where are you located and when are you open?
Select Auto Centre is at 6 Namco Rd., Etobicoke (Toronto), ON M9W 1M5. We are open Monday to Friday 9:00 am to 6:00 pm, Saturday 9:00 am to 2:00 pm, closed Sunday. Call 416-841-7058.
Related pages
Cash for cars TorontoSell my car in TorontoFinancing at Select Auto CentreSell your carAreas we serveAbout Select Auto Centre
Tell us about your car and loan
Call 416-841-7058 or request your offer online. 6 Namco Rd., Etobicoke.
Get My Car OfferCall 416-841-7058