How to exchange a financed car?


Some time ago you decided to buy a car, but you had no money to pay for it. Funded now the value of the plots is weighing in the budget. The solution is to sell it, but do you know how to trade a financed car?

Replacing a financed car can be hard work, but it is possible, yes, to close a good deal. Check out a step-by-step guide to what you need to do.

Advertise the car by all means possible

car loan

The first step in getting a car financed is to find a buyer willing to take over your debt and purchase your current vehicle.

Finding someone with this profile is no easy task, so the tip is to warn the good in every possible way. Classifieds from newspapers, social networks, websites that specialize in car sales (have you tried Webmotors? And iCarros?), Fairs, friends and wherever you can. Do not leave out any options to increase your chances.

Consider reducing vehicle price

If even advertising in the most diverse media, you have difficulty passing the vehicle to someone else, consider lowering the price you are charging for the car. The main objective is to make the offer as attractive as possible to those who will assume its financing. Referring to the Fipe table can help to have a reference price in the market.

Escape the drawer contract

car loan

When you find the buyer for your vehicle, be careful not to fall into the trap of the drawer contract, an informal contract, much used by used car dealers. Do not consider this option because, although widely used, the transaction has no legal value, even when the firm is notarized.

Avoid headaches in the future and seek the knowledge and approval of the financial institution where the vehicle was financed. Values ​​for safety in the negotiation.

Always negotiate

car loan

Found a person interested in buying your vehicle? Then it is time to leave for trading: It makes a good entry into the current vehicle. It is important that you are able to pay off the current financing and that you still have a little money to get in the next vehicle.

The higher the down payment, the lower the value of the installments in the new financing. He decided to change his financed car, probably because the parcels got too heavy.

Find a Buyer Not a Business Guarantee

car loan

Did you know that you can transfer your funding directly to the financial institution where you funded? But the buyer must prove the rent and wait for the approval of this procedure.

Finding a buyer for your financed auto is a big step but still no guarantee of a closed deal.

Evaluate financing exchange conditions

Redeeming the money from the bank’s financing and paying it off for a change of car, for example, is something that is not usually worthwhile. Many institutions charge a very high transfer fee, making the business unfeasible. Consider if this fee is charged by taking a careful look at your contract.

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