Changing Ownership of a Financed Car In Australia

Changing Ownership of a Financed Car In Australia

Changing ownership of a financed car involves a few key steps: First, figure out the exact amount you owe on the car. Next, talk to your financier to understand the process for transferring ownership and to get their approval. Then, set a sale price that covers your loan balance and potentially leaves some profit for you. Once you find a buyer, make sure all the necessary paperwork is in order for a smooth transfer, including a clear agreement on who pays off the remaining loan balance.

Changing Ownership of a Financed Car

your go-to guy for all things car wrecking and selling down in Adelaide. With more than two decades of wrestling, dealing, and wheeling in the cash for cars scene, I’ve seen it all. From clunkers that have seen better days to those shiny beasts that make you do a double-take, my days are never dull. Today, I’m tackling a topic that can make even the most seasoned car owner scratch their head: changing ownership of a financed car.

The Why Behind the Wheel

So, why am I talking about this? Well, in my journey through the car industry, I’ve met many folks who found themselves in a pickle when it came to selling or buying a car still on finance.

It’s like trying to juggle with one hand tied behind your back – possible, but why make it harder on yourself? Understanding the process for selling a car can significantly ease this burden.

The Roadmap

First off, let’s lay down the roadmap. Selling a car with finance owing is like a road trip – you need to know where you’re starting, the pit stops, and, most importantly, your destination. If you’re pondering, this guide could streamline the process.

Know What You Owe

The first step is knowing exactly how much dough you still owe on your ride. It’s like checking your fuel gauge before a long drive. You don’t want to run out of petrol in the middle of nowhere, right? Sometimes, you might wonder, “Can you sell a car without a roadworthy in Australia?” It’s crucial to know local regulations.

Talking to Your Financier

Next, you’ve got to chat with your financier. Picture it as asking for directions. You need to know if they’re cool with you selling the car and how the handover process should go down.

The Price Tag

Setting the price is where things get interesting. You’ve got to cover what you owe and hopefully have a bit left for your troubles. It’s like fishing – you want the best catch, but you also need the right bait.

If getting top cash for your old car is your goal, our ultimate guide can offer invaluable insights.

The Transfer

Once you’ve got a buyer hooked, it’s time to navigate the transfer. This part can be tricky. Imagine trying to pass a hot potato without getting burnt. You need to make sure everyone’s happy – the buyer, the financier, and most importantly, you.

The Unseen Speed Bumps

Once you’ve got a buyer hooked, it’s time to navigate the transfer. This part can be tricky. Imagine trying to pass a hot potato without getting burnt. You need to make sure everyone’s happy – the buyer, the financier, and most importantly, you. Remember, the Notice of Disposal SA (NOD) is a critical step for car sellers.

The Signposts Along the Way

Documentation is your best friend here. It’s like having a map when you’re lost. Make sure you’ve got everything signed, sealed, and delivered. No one likes getting lost in the paperwork forest.

Clearing the Debt

The moment of truth is clearing that debt. It’s like reaching the summit after a long hike. There’s a sense of achievement in knowing you’re free and clear.

The Victory Lap

And then, the victory lap. Handing over the keys to the new owner with no strings attached. It’s a win-win-win. You’re happy, the buyer’s happy, and the financier’s out of your hair.

A Few Cautionary Tales

Now, I’ve heard a few horror stories. Like the time someone thought they could skip chatting with their financier and ended up in a world of hurt. Or when a deal fell through because the paperwork was as tangled as last year’s Christmas lights. Let’s learn from these, shall we?

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Wrapping It Up

So, there you have it. Changing ownership of a financed car doesn’t have to be a headache. With a bit of know-how, some patience, and a good sense of humor, you can navigate through it like a pro.

But at the end of the day, it’s all about making sure you, the customer, are cruising away happy. Whether you’re buying, selling, or just trying to figure out what’s next, I’m here to help make the journey a bit easier. So, buckle up, Adelaide, it’s going to be an interesting ride!

Marcus Oliver

Article By Marcus Oliver

His qualifications and over 22 years experience in the cash for cars industry make him a renowned car valuation expert for vehicles of all conditions. As the Automotive Acquisition Specialist, a dedicated automotive buyer and as a Certified Car Appraiser,, he has shaped the company's narrative, emphasizing sustainable car recycling. His expertise and commitment have solidified Ezy Car Wreckers' reputation in Adelaide.