Auto Loan FAQ: Selling a car with an existing loan

It is a common practice to sell a vehicle that is still under an existing loan. The following options are available to you:

• Settle the outstanding loan balance using your personal savings
• Sell the vehicle to a used-car dealership
• Engage in a private-party sale of the vehicle

To find your payoff amount, visit the "Loans" page if your loan is with Happy Mango. If it's through AutoPal, please contact us for the current payoff amount.

When selling a car, check its market value using sites like Kelley Blue Book, Edmunds.com, or Cars.com. Consider the car's equity, which is the difference between your loan balance and its value. Positive equity means the car's worth exceeds the loan, while negative equity (or an upside-down loan) occurs when the loan balance is higher than the car's value.

Please keep in mind that you must satisfy the payoff amount before we can transfer the title to you or the user-car dealer, or the private-party buyer. If you decided to sell your car please see the article How to Sell a Vehicle with an existing loan.

If you require any assistance, we recommend reaching out to your financial coach for guidance throughout the selling process.