Last updated: October 2026
Yes, you can sell a car with finance owing in Melbourne. A loan on the car does not lock you into keeping it. Victorian Car Buyers is a licensed motor car trader (LMCT 12395) based in Delahey that buys cars for cash across Melbourne and Victoria. We buy cars that are still under finance, pay out the lender and pay you any balance.
Call Steve on 0455 776 443 or send your details through the form.
Can I Sell My Car if It Still Has Finance?
Yes. The finance simply has to be paid out as part of the sale. When you sell to us, we pay the amount owing straight to your lender and pay the rest of the sale price to you. You do not have to find the money to clear the loan first.
How the Finance Payout Works
1. Get Your Payout Letter
Ask your lender for a payout letter. It shows the exact amount needed to close the loan and the date that figure is valid until.
2. We Confirm the Figure
We inspect the car, agree a price with you and check the payout figure against the letter.
3. We Pay the Lender
We pay the payout amount directly to the finance company so the loan is cleared.
4. We Pay You the Balance
Whatever is left after the payout is yours, paid by cash, bank transfer or bank cheque.
For a fuller walk through, read how a finance payout works when you sell your car.
What if I Owe More Than the Car Is Worth?
This is called negative equity. If the payout figure is higher than the price of the car, the loan cannot be closed by the sale alone, and the difference still has to be paid to your lender.
The first step is to know both numbers. Get your payout letter, then call us for an offer on the car. Once you know the gap, you can talk to your lender about how to cover it. We will tell you honestly where you stand.
What You Need
- A current payout letter from your lender
- Your driver licence
- The registration details for the car
- All keys
You do not need a roadworthy certificate to sell to us, and there is no pickup fee.
How We Work Out the Price
The price depends on the make, model, year, kilometres, condition and current demand, the same as any other car we buy. We usually pay between $500 and $30,000, and more for higher value cars. The finance does not lower our offer. It only changes who the money is paid to.
What Melbourne Sellers Say About Victorian Car Buyers
Finance FAQs
Does it matter which lender my loan is with?
No. Banks, car finance companies and other lenders all issue payout letters. As long as we have a current letter, we can pay the loan out as part of the sale.
How long does a sale with finance take?
The inspection and offer can often happen the same day you call. The timing then depends on how quickly your lender provides the payout letter, so it helps to request it early.
Can I sell a financed car that is damaged or not running?
Yes. We buy cars in any condition. See our damaged car page for how those cars are valued.
Will the lender still chase me after the sale?
Once the payout amount on the letter is paid in full, the loan on that car is closed. Ask your lender to confirm in writing that the account has been finalised.
Get an Offer on Your Financed Car
Call Steve on 0455 776 443 or send us your car details. We are open Monday to Friday 9am to 9pm and Saturday 9am to 6pm. We are closed on Sunday.
Victorian Car Buyers, 11 Mercer Ct, Delahey VIC 3037. LMCT 12395.