A car loan is a serious step that many buyers face. But sometimes you have to think about selling a vehicle. The reasons for such decisions may vary. Regular cars will not be difficult to sell. It is much more difficult with those whose debt has not yet been repaid.

Lenders often take title after they enter into a loan agreement. Why is this being done?

Simply to ensure that the borrower will not enter into any transactions related to the alienation of this property. And it will not use it as collateral when concluding agreements with other financial organizations.

The title is returned to the owner after the debt is fully repaid. The car itself is then deregistered.

PTS with the word duplicate means that the original PTS for the car is in the bank.

Even if the loan was issued without a title, this does not mean that the client can dispose of the vehicle at his own discretion.

Are credit cars sold legally?

In this case, organizing a sale is quite acceptable. The main requirement is that borrowers notify the credit institution. It is illegal to try to find other solutions, bypassing official communications.

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If the PTS remains in the hands of the owner

It is best to contact the bank with a passport not only of the applicant, but also of the vehicle itself. Selling without the consent of the financial institution will be perceived as an act of fraud.

Bank collateral agreements usually provide for two possible options.

1. The car's passport is kept in the bank until the debt is repaid in full.
2. Registration of the so-called nominal pledge. This means that both the car and the title remain with the owner. The car is only subject to certain restrictions.

It is the second option that is considered the most convenient. It simplifies the sales procedure the most. The owner can use the title to register a change of ownership.

But even in this situation, the bank’s consent to carry out the operation is mandatory. Otherwise, all actions will be considered fraudulent.

How to sell a car if the title is in the bank?

There are quite a few sales schemes that allow you to transfer a car from one person to another. Such procedures are not without financial costs, and they also take quite a lot of time. But it is better to resolve the issue through legal means than to deal with the consequences later.

Selling a car yourself

This is a way for those who want to not only get rid of debt obligations, but also save on cash costs. But you will have to search for buyers yourself.

If the issue is resolved successfully, the buyer goes with the seller to the bank to close part of the loan with their own funds.

But this method is only suitable for those who do not have debt.

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First, the new buyer pays the bank the balance of the loan. After which the car is simply taken out of collateral. The car passes from one owner to another and is deregistered with the traffic police. It may take a lot of time to find a buyer. But the maximum is obtained from the cost.

We organize a sale through court

This option is not convenient either for borrowers or financial institutions. In courts, the value of vehicles is set to a minimum. This may be enough only to pay the principal debt, but not with interest and arrears. This option is devoid of benefits for both parties.

When does a bank participate in a transaction?

If you have a large debt, you can contact a financial institution to write a statement. It states the inability to continue paying debts.

Then the bank itself looks for buyers for its collateral. Sets the price and deals with other issues. The difference is still reimbursed by the former owner if the proceeds are not enough.

According to the Trade-In system

This service appeared not so long ago, but has already become quite popular.

The sale of the car and everything connected with it is carried out by the car dealership. But to do this, you need to issue a power of attorney to his employees. And drive the vehicle to the site. This is necessary to determine the cost as accurately as possible.

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The bank is drawing up a tripartite agreement. The balance of the debt is repaid by the representatives of the salon. After which the car is deregistered.

On-lending programs

A good option if the payment balance is not that large. For the remaining amount, another consumer loan is simply taken out. All that remains is to deposit part of the necessary funds and pick up the PTS. P After this, the vehicle is sold in the usual ways.

Among the advantages:

1. No red tape.
2. Opportunity to get a good price for a vehicle.

But you still need to pay interest on the second loan. However, they may increase due to the presence of one loan in the client’s history.

Re-issuance of loans

Transferring loans to other persons is one of the possible options. But the deal will be finalized only after the bank receives all the documents it needs. Specialists must ensure the solvency of clients.

Using Auctions

This option is becoming increasingly popular. The borrower, under a successful set of circumstances, sells the car at high rates. And the opportunity to pay off current debt. The car is sent to the new owner after deregistration.

What to do if your car is seized?

If the investigator seizes the vehicle, then legal sale ceases to be possible.

And the owners are responsible for any transactions made. In most cases it will be criminal. Other possible penalties are monetary fines or correctional labor for at least two years.

You will have to start legal proceedings with the former owner if a seizure is imposed on a car that has already been sold.

Sale of cars that were purchased on lease

A leasing agreement has the same status as a regular lease. The value of the car increases significantly when such agreements are concluded. But there are also a number of advantages that do not appear when using other schemes. Most often, the leasing scheme is used by those who have received the status of legal entities.

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In this case, you must carefully read the terms of the contract.

If a ban on sales is not strictly indicated there, then the corresponding action is quite doable. However, you cannot sell the vehicle on the same terms as those in the contract. If the vehicle is leased, then it cannot be sold until the debt is fully repaid.

Only the conditions themselves described in the leasing agreement are sold. In such cases, the document is simply reissued from one person to another. For many potential buyers, this method is considered effective.

Here are just a few benefits worth emphasizing.

• An effective solution for those who need to purchase expensive transport, trucks.
• Additional vehicle maintenance services, if this is included in the terms of the contract.
• Mobile, the simplest financing scheme.
• Maintaining complete confidentiality of the data received.
• You do not need your spouse's consent to perform the operation.

We organize the sale by proxy

The owner of the vehicle, again, needs to independently search for a buyer. And agree with him on the cost of the operation. The total of all remaining monthly payments is deducted from this amount.

If there is a difference, the buyer gives it to the seller. The latter issues a special power of attorney for the right to drive a car.

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The next step is for the buyer to pick up the vehicle from the seller. And he continues to pay off the loan. When the debt is paid off in full, all documents for the car are given to the buyer.

In practice, this option is quite rare. After all, there are too many risks for both sides.

The car is usually registered to the sellers. Therefore, they are the ones who solve all problems related to banks, insurance, and other similar issues. For buyers, the risk is that sellers may refuse to re-register after all funds have been deposited.

About banking services

Financial institutions offer a number of additional opportunities for those interested in selling a car.

• The already mentioned Trade-In system. Almost the entire transaction is handled by the salon together with the bank.
• Use of auctions. They usually become a last resort.
• Exchange for problem deposits. Instead of cashing out, buyers receive the property in their hands.
• Refinancing.
• Property remortgage. Instead of a car, other property becomes collateral if it is on the permitted list.
• Transferring keys with documents to the bank. Used if there is a new buyer found by the bank or owner. The car is transferred into his ownership, or continues to play the role of collateral. Depending on how much money the other party has. After the transaction is completed, the loan passes to the new owner.

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Vehicles that have outstanding liabilities may well be sold. During the procedure, the seller will probably encounter difficulties, but this issue will be resolved.

The main thing is not to look for workarounds, but to act only officially. The best option is to negotiate with the bank at each stage. Then the sale will be successful.

If you want to sell your credit car legally, watch this video:

Is it possible to sell a car on a car loan? This question is usually asked by people who have not calculated their financial capabilities. A car purchased on credit becomes unaffordable for the family budget, and the borrower begins to feverishly look for ways out of the financial crisis. Among the various options for reducing the credit burden, selling a car is the most relevant. Let's look at how you can get out of this situation with minimal losses.

Studying the contract

As in all cases with bank loans, you should first carefully review the terms of the agreement. Usually, everything related to owning a credit car is clearly spelled out in it.

The text of the agreement was drawn up by professional lawyers, tested many times in judicial practice and, most often, is impeccable from the point of view of Russian legislation. In this case, the vehicle passport is usually kept in the bank until the loan is fully repaid. Although there are exceptions when the loan is issued without collateral at a higher interest rate.

Thus, by signing the loan agreement, the borrower has to comply with the conditions of the financial institution, according to which the sale of the car is possible only after repayment of the loan. Much less often, such a right is granted after the majority of the debt has been paid.

The vast majority of Russian banks practice pledging a car for the entire loan repayment period.

Options for selling a credit car

It should be remembered that it is much more profitable for any bank to resolve a loan case peacefully, without involving the courts, because banks are, first of all, financial institutions for profit and the economic benefit of the transaction is above all else for them. This fully applies to crisis situations related to car loans. So, there are several ways to eliminate your car loan burden.

Direct participation of the bank in the sale of the car

Most often, banks meet the client halfway and are directly involved in the sale of a credit car. In this case, understanding the client’s insolvency, the bank, with his consent, sells the collateral through partner car dealerships. The process is quite streamlined, and selling a car does not take much time.

A significant disadvantage of such a scheme is that the bank determines the cost of the car independently of the borrower. Most often, it turns out to be lower than the market price, which leads to additional losses for the client. The positive aspect of such a transaction is the rapid completion of the credit relationship.

Self-sale of the car by the client

Perhaps the most popular way to get rid of a mortgaged car is when it is sold to a car dealership that buys credit vehicles. The car is appraised, the loan debt is repaid, and the title eventually ends up at the car dealership. The remaining cost is given to the client, and the car is put up for sale at the price of the new seller. The disadvantage of this method is the obvious underestimation of the cost of the loan car, but the positive point is a quick solution to the issue.

Sometimes it is possible to sell a car in this way to a private person. In this case, the borrower has the opportunity to sell his car at market value, but spend much more time searching for a suitable buyer, which is not always acceptable.

Judicial sale of a credit car

An extremely unprofitable event for both parties, the borrower and the bank, is the sale of a car by decision of a federal court. To speed up the process, the car is sold at a minimum price, which is usually not enough to pay off the entire debt. In addition, lengthy legal proceedings often lead to additional costs and a lot of time.

It should be noted that all of the listed options for selling a credit car are legal.

Property remortgage and second loan

In addition, there are other completely legal ways - property remortgage and a second loan to repay the first. In the first case, in agreement with the bank, you can mortgage your own real estate in the form of a house or apartment. In the second case, another loan on more favorable terms often helps to rectify the situation and make early repayment of the car loan debt. It should be noted that both options are usually used only in the most critical situations.

You should not get involved with criminal methods, such as obtaining a duplicate PTS from the traffic police to replace an allegedly lost one, for example. The punishment for such an offense can be quite serious. In general, it is possible to sell a car if it is on a car loan without breaking the law and without taking the situation to the limit.

The main disadvantage of selling a car with a car loan is the undervaluation

The borrower is required to do only one thing - make full payments on the loan without violating the approved schedule. Otherwise, it will be difficult to talk to the bank about selling a credit car. It should be remembered that finding a suitable way to sell a mortgaged car in no way relieves you of loan obligations.

Moreover, you should not hide your poor financial situation from the bank and try to resolve such a serious issue alone. Almost all legal options involve the bank’s direct participation in eliminating the problem without the borrower’s initiative. You need to understand that the bank will still retain its margin, albeit a smaller one, but the reputation and finances of the borrower may seriously suffer.

To prevent such problems, you should take a more thorough approach to deciding whether it is possible to sell a car on a car loan, carefully weighing all the possible nuances of such an event.

Video: How to legally sell a car if it is on a car loan

It is now possible to take out a loan almost anywhere and for almost anything. This also applies to buying a car. You can buy a car on credit at any dealership, or you can take out a personal loan for the purchase. There are quite a lot of options, but often car enthusiasts are concerned with the question of what to do when they still have a loan, but want to sell the car.

The reasons can be very diverse, from solving financial problems to purchasing a new, more convenient and modern car. In our article we will tell you whether it is possible to sell a car that is pledged. In addition, we will consider the nuances that may be associated with this. And most importantly, we will tell you how to sell a credit car safely and legally.

Many car enthusiasts are stopped from selling their car by the fact that when taking out a car loan, the Vehicle Passport is kept by the bank. However, for the most part it doesn't play that important a role, as far as one might think at first glance. There are quite a few ways to resolve the issue of sale, which can be divided into several options.

Ways to sell a car that is pledged:

• Standard sale with the participation of the bank as one of the parties;
• Selling using intermediaries;
• Renewal of an existing loan directly to the buyer;
• Applying for another loan to pay off the balance available on this car.

There is, of course, another option with selling the car by proxy. However, in this case, the buyer will not be able to register the car in his name, and the transport tax will come to your name. You will remain the owner of the car, which means you will have all the responsibilities of a car owner.

The choice of sales method directly depends on the circumstances, the amount of the remaining debt on the car loan, as well as other nuances. In order to decide on the method that is most convenient for you, we recommend taking advantage of a free consultation with a lawyer. This will save you from various problems in advance and will help you sell your car quickly and easily.

Sale with bank participation

This method can be safely called the safest for all parties involved in the transaction. This fact makes the sale of a credit car with the participation of a bank the most popular method. Main it the principle is an agreement with the bank, under which you will deposit the proceeds from the sale of the car to cover your existing debt.

Before you start preparing documents, You will need to contact the bank and find out if this is possible.. You can contact one of the bank branches, or simply call the hotline. It is necessary to obtain prior consent for such a sale in order to act with confidence in the bank’s consent. If you received it, then The sales process will look like this:

• Submitting an application to the bank to carry out such an operation;
• The bank gives its approval, after which accounts are opened to sell the car. However, this depends on the bank; existing accounts can be used. One of them will receive an amount that will be used to cover the remaining debt. The difference that remains after closing the loan will be transferred to your account;
• The buyer will need to deposit funds into a bank account, after which it is the bank that distributes them, taking into account the existing interest on the debt. That is, it makes early repayment;
• The deposit on the car is removed, there are no longer any restrictions on sales. Among other things, as already mentioned, the bank transfers the remaining funds to your account, and you can freely dispose of them at your own discretion;
• A car purchase and sale agreement is drawn up. The following is the standard procedure for re-registration of a vehicle. Thanks to new simplified systems, it does not take so much time.

The reason for the popularity of this solution when it comes to selling a credit car is also due to its overall simplicity. All that is required of you is to submit the appropriate application to the bank, after which almost everything will be done by the bank itself.

Before using this method, check your existing debt balance. Despite all the attractiveness of the option with the participation of the bank, it is only suitable for those who have a debt balance less than the sale price of the car. Otherwise, the final amount will simply not be enough to pay off the debt, and the car will remain pledged.

How to sell using intermediaries

The services of intermediaries when selling a car can be used in various situations. In some, unfortunately, even without your desire. If we list all possible legal options for mediation, they consist of:

• Bank services if he provides mediation services for cars that are pledged to him;
• Trade-in opportunities at various car dealerships who work with credit cars;
• Works of the Federal Bailiff Service in the presence of enforcement proceedings.

The latter applies precisely to the case when the sale of a car is carried out without your desire. Bailiffs put vehicles up for special auction in order to cover the existing debt with the proceeds. However, let's get back to the good stuff and talk about how to sell a car on your own initiative.

If you do not take into account the FSSP authorities, then for the remaining options it is better for you to first contact your bank. The fact is that almost every bank has its own auctions where you can put up a credit car for sale. You can clarify not only the possibility of putting it up for sale, but also all other questions that interest you. After this already it makes sense to contact car dealerships that can put the car up for sale.

In both cases, the transaction will be carried out without your direct participation. However, before doing this, you will need to fill out some documents and familiarize yourself with the terms of the sale. After the actual sale, the funds will be transferred to the bank, where the debt will be covered. The difference will be refunded to you.

The main and main disadvantage of such a sale is that the car will be put up for auction at a reduced price. On average, the difference between the market value and what appears at the auction is up to more than twenty percent. Considering the size of the total amount, this is a very significant loss of funds. However, this method is no less reliable for both you, the seller, and the buyer.

Sale with transfer of credit to the buyer

It is not as difficult to find a buyer who is ready to buy a car on credit as it is to find one suitable for the bank. The difference is that, in addition to desire, the buyer must meet the bank’s criteria. That is, he must be a worthy replacement for the borrower in the loan agreement. He will be checked in the same way, his income, expenses, and credit history will be clarified. Only after this will it be possible to re-register.

If the buyer agrees and meets the bank’s requirements, then you can safely contact the bank itself. You will need to write an application to re-issue the loan to another person. Usually for such a statement you need to collect exactly the same package of documents as for obtaining a loan initially. When the application along with the required papers is submitted to the bank, you will need to wait for a response.

If the answer is positive, the loan agreement is redone, the buyer becomes the borrower, you are released from the debt, and on this day you re-register the car. It is noteworthy that if the amount of debt is less than the cost of the car, then the difference is transferred between you and the buyer as agreed. Whether it is cash or transfer of funds to an account does not matter.

Not every buyer wants to bother with re-issuing a loan agreement, much less collecting documents. Usually they just take out their own car loan, avoiding such complications. Plus, the buyer needs to meet the bank’s requirements, which is also a rather difficult task when finding someone willing to buy a used car.

Applying for another loan to cover the debt

This method could be called simple, if not for the nuance that the new loan must still be approved. If you apply for a loan at the same bank where your car is pledged, you can specify the purpose of obtaining a loan to cover your existing debt. With this option the bank agrees in most cases.

After you receive a loan and pay off your car loan debt, you can safely sell your car. Using standard

Good afternoon, dear reader.

Often in practice you may encounter the following situation. A man took out a car loan and purchased a car, but did not have time to fully repay the debt to the bank. At the same time, the car owner urgently needed money and wants to sell the car. For example, a good option turned up to buy real estate. However, the person does not know what to do in this case.

This article will look at several options, allowing you to sell a credit car. I recommend that you study them all and choose the most suitable one:

Car collateral for car loan

First of all, let's focus on the fact that all car loan agreements provide for the fact that the car is pledged to the bank. Moreover, the conditions of most banks also imply that the vehicle’s passport () is kept in the bank until the loan is fully repaid.

An unpaid car loan in any case creates additional difficulties when selling a vehicle. Therefore, if you are just planning to take out a loan and suspect that you will have to sell the car ahead of time, then I recommend turning your attention to consumer loans. As a rule, the interest rates on such loans are higher, but you can sell the car without any problems. This issue is discussed in detail in a separate article:

Unfortunately, it is not always possible to foresee such a development of events, so we will assume that there is an outstanding car loan and the car needs to be sold.

7 options to sell a car on credit

1. Early repayment of a car loan

The method is that the car owner must make another loan, through which the car loan must be repaid. After this, the title will be returned from the bank, and the car can be sold without any problems.

In this case, you can get money in any way:

• Borrow from relatives or friends.
• Take consumer loan.

The proceeds from the sale of the car will first need to be used to repay the loan, and the remaining money can be used at your own discretion.

Please note that early repayment of a car loan may take quite a long time (about a month). This does not always happen, but there are cases. Therefore, you need to take out an additional loan for at least 1 - 2 months.

This method makes sense to use if most of the loan has been paid off.

For example, the total loan amount is 500,000 rubles, and there are 40,000 rubles left to pay. At the same time, the driver has 25,000 of his own savings, and he needs to borrow 15,000 rubles from friends/acquaintances.

If we are talking about large sums (hundreds of thousands of rubles), then it is unlikely that it will be possible to borrow them even for a short period of time.

2. Sale by agreement with the bank

In any case, the car owner has the opportunity to contact the bank for advice on selling the car. In this case, the bank can offer various options:

• Issuing a permit to sell a car.
• Sale of a car by a bank.

Possible options depend on the bank, so it makes sense to contact the manager and get more detailed information.

3. Re-registration of collateral

The method is that the car owner must offer the bank other property as collateral, the value of which exceeds the loan balance.

For example, banks willingly take real estate (apartments, houses) as collateral.

After replacing the collateral, the owner continues to pay the bank according to the previously approved schedule. However, you need to keep in mind that if payments stop, the bank can “take away” the mortgaged property and sell it to pay off the debt. However, the sale price may not be the most profitable.

4. Re-issuing a loan to the buyer

The method is that the loan agreement is reissued from the seller of the car to the buyer. The operation can only be carried out through bank employees.

For example, a car is sold for 700,00 rubles. In this case, the seller owes the bank 200,000 rubles.

In this case, the loan is reissued to the buyer, and the buyer transfers the remaining 500,000 rubles to the seller.

5. Sale to a buyout organization

Currently, there are specialized organizations that also buy credit machines. In this case, the car dealership employee goes to the bank along with the seller and resolves issues regarding the unpaid loan.

The advantage of this method is that the organization buys cars all the time, so the procedure will not take much time, and the buyer (organization) will not refuse to purchase because the car is “problematic.”

On the other hand, there is a drawback. Resellers offer a much lower amount for the car than you can get from selling it yourself.

6. Selling to a person who will repay the loan

In this case, the buyer transfers money for the car, and the seller uses these funds to pay the balance of the debt to the bank. The PTS is transferred to the buyer only after completion of all procedures at the bank, that is, this may take about a month.

This method is based on trust, so it is suitable for selling a vehicle to good friends. A buyer “off the street” is unlikely to agree to this option, because... There is a high risk of being left without money and without a car.

7. Sale based on a duplicate title

The method is that the seller, without the knowledge of the bank, receives a duplicate vehicle passport from the traffic police and sells the car under the guise of an ordinary one (not a credit car). Unfortunately, such cases happen in practice, which is why I included this option in the article.

This method is not suitable for a law-abiding owner, because He refers to fraud and is punishable under Article 159 of the Criminal Code of the Russian Federation. The size of the penalty depends on the value of the car:

Damage	Article 159 of the Criminal Code of the Russian Federation	Punishment
up to 250,000	part 2	a fine in the amount of up to 300,000 rubles or in the amount of wages or other income of the convicted person for a period of up to two years, or compulsory work for a period of up to four hundred eighty hours, or correctional labor for up to two years, or forced labor for up to five years with or without restriction of freedom for up to one year, or imprisonment for a term of up to 5 years with or without restriction of freedom for a term of up to one year.
from 250,000 up to 1,000,000	Part 3	a fine in the amount of 100,000 to 500,000 rubles or in the amount of wages or other income of the convicted person for a period of one to three years, or forced labor for up to 5 years with or without restriction of freedom for up to two years, or imprisonment for a term of up to six years with or without a fine in the amount of up to 80,000 rubles or in the amount of the wages or other income of the convicted person for a period of up to six months and with or without restriction of freedom for a term of up to one and a half years.
from 1,000,000	part 4	imprisonment for a period up to 10 years with or without a fine in the amount of up to 1,000,000 rubles or in the amount of the wages or other income of the convicted person for a period of up to three years and with or without restriction of freedom for a period of up to two years.

The situation through the eyes of the buyer

Various options for selling a car through the eyes of the seller were discussed above. Let's figure out what risks each method carries for the buyer.

Early repayment and re-registration of collateral There are no risks for the buyer, because The seller has the PTS in his hands. Therefore, the car can be sold at market value.

Sale based on a duplicate title An attentive buyer who first checks the car for collateral will cause an extremely negative reaction, and the deal will most likely fall through.

Other options carry a certain risk and additional inconvenience for the buyer. Therefore, if you decide to use one of them, then the buyer will have to give a good discount and sell the car below market value. This will be a fee for the inconvenience.

Summarizing this article, it should be noted that the most profitable financially are options 1 and 3, because they allow you to sell the car at market value. Therefore, if you have such an opportunity, then use one of them.

Good luck on the roads!

Not all new owners of vehicles purchased on credit want to organize their future according to the standard scheme: deduction of monthly payments - use of the purchased car. Some people don’t have enough money to pay the loan, some want to replace their car with a more suitable one, others want to buy more or less expensive equipment. But how to sell a credit car? In the article we will analyze the procedure in detail.

Withdrawal of PTS

And the first difficulty here is that it is not with the legal owner, but in the bank. Typically, the credit institution withdraws the document after registering the car. The client is given 10-15 days for this process.

The title is returned to the car owner only after the majority of the loan has been repaid or after the loan has been fully repaid. In this way, the bank seeks to protect itself from unscrupulous borrowers. And the owner has a problem: how to sell a credit car if the title is in the bank?

A loan agreement with the transfer of a vehicle passport to a credit institution has certain goals:

1. While the bank has the title, the borrower (being the full owner on paper) can only operate the car, but not dispose of this property. Sale, exchange, donation occurs only under the control of a credit institution. Accordingly, such a restriction gives the latter confidence that the borrower will not stop making payments on the loan.
2. If a client makes long delays and cannot cope with his loan, then the bank, having a title, can easily put the car up for auction.
3. Until the end of the loan agreement, the borrower has an obligation to insure the car using the expensive CASCO system.

But you can sell a credit car with a title in hand. Some banks do not require transfer to them when taking out a car loan. But, in essence, the proposal is more like a trick - the interest rates on such loans are much higher, but the bank’s rights to the credit machine remain the same.

Car loan without title withdrawal

If you still decide to take a car loan without collateral in the form of a vehicle passport, then you should contact the following credit organizations:

• Sberbank. Please note that such loans are not available in all branches and offices.
• "Unicredit".
• "Russian standard".
• "Raiffeisen Bank".

These credit institutions have developed their own schemes for combating fraudulent transactions, so it is not necessary for them to confiscate PTS from the borrower. The borrower receives such disadvantages as a high loan rate, an expensive type of CASCO insurance, a condition in the form of mandatory loan insurance, etc.

Options for selling a credit car

Is it possible to sell a loaned car? As we have seen, until the loan is fully repaid, the car does not actually belong to its owner. Accordingly, its sale is possible only with a number of restrictions that are unfavorable for the owner.

So is it possible to sell a loan car? Yes, there are several ways to do this:

1. Sale with the participation of the bank.
2. Independent sale.
3. Sale by court order.

Whichever of these methods you choose, the first thing you need to do is contact the bank to obtain permission for the transaction! You will not be able to sell your car legally without the consent of the credit institution.

You can also offer alternative options on how to sell a credit car legally:

• Early repayment of the loan using your own funds. You deposit money, receive a title and can dispose of the car at your discretion.
• Refinancing. In this case, a consumer loan is taken out from another bank for the missing amount. These funds are used to repay the car loan ahead of schedule. You sell a car with a title (this is the most profitable option), and use part of the funds received to close the consumer loan you took out.

Let's look at each path step by step, in detail.

Selling a car through a bank

Yes, banks sell credit cars. If you want to choose this method, then you need to do the following:

1. Contact the credit institution where the car loan was issued to you and state your decision.
2. Many banks cooperate with large car chains whose activity is the sale of used cars.
3. The sales procedure takes place through this intermediary. As a rule, this takes a minimum of time.
4. After the sale, your credit obligations are quickly removed.

The method is quite simple. But at the same time, it is also unprofitable - the cost of the vehicle will be determined not by you, but by the bank. Of course, the credit institution will act in its own interests, as a result of which the price will be much lower than the market price.

Independent sale

How to sell a credit car yourself? Naturally, this option will be much more profitable for you. There are two possible ways for events to develop:

1. Contacting a specialized dealership. As a rule, such centers list the purchase of credit cars in the list of their services. A dealership representative evaluates your car and sets a purchase price. If you agree with it, then the salon employee will come to the bank, repay the remaining loan amount, after which he will be given a PTS. The car center returns the difference in cost to the owner. Of course, the car will be sold at the showroom at a different, higher price.
2. Independent search for a new car owner. How to sell a credit car in this case? You need to register on any of the well-known classifieds platforms and submit your message for sale. Another option is to try to find a buyer among your friends, relatives, and colleagues. This person, from part of the funds that will be transferred to you for the car, repays the remaining share of the loan. The bank returns the title, and you register the car to the new owner.

Please note that the options listed are only good if you have no overdue loans and you are not limited in terms of time before a delay occurs with the bank.

Sale by court verdict

But this method is equally disadvantageous for both the client and the credit institution. After all, the cost of the car that the court determines will be the minimum. This amount is sometimes only enough to pay off the principal of the debt. And the borrower pays off interest and late fees from his own funds.

But the disadvantage of the bank is that the sale of a vehicle by court decision takes quite a long time. The credit institution does not receive any loan repayments during this period.

Algorithm for selling a credit car

If you manage to find a buyer on your own, then you need to follow a simple procedure:

1. The first thing you do is make an inquiry with the bank about the outstanding amount along with interest.
2. You go with the buyer to the branch where you fill out an application for early repayment of the loan.
3. With a new owner, contribute part of the amount of the funds provided by him.
4. You enter into a purchase and sale agreement. You hand over the available documents and you are given the remaining money from the loan repayment.
5. Wait for the loan to close - it takes 2-3 days. Then the title is returned to you, and you provide the document to the buyer to re-register the car in his name.

Difficulties of selling

All of the above methods of selling credit cars have common difficulties:

• You must notify the bank of your decision, even if you are looking for a buyer yourself or through a dealership.
• You need to obtain permission to sell from the credit institution! Please note that not every bank agrees to the deal.
• If you decide to sell your car without notifying the credit institution, then your actions may be regarded as fraud with the appropriate penalties.
• “I’m selling a credit car without a title” is a deliberately disastrous start to the ad. It is not very easy to find a buyer willing to purchase such a car - most often people are afraid of scam schemes and additional problems with the purchase.
• To motivate the future owner to purchase, you need to give in to your interests - in particular, make a decent discount.

Illegal ways of selling

You've probably already heard about how to sell a credit car illegally. The most common scheme of “experts” is as follows:

1. Under a car loan with the provision of a title to the bank, a car is purchased.
2. The fraudster regularly makes due payments within 2-3 months.
3. Then the person contacts the traffic police with a report about the loss of the vehicle. He is given a duplicate of the document.
4. With a new title, the car is sold by advertisement.

But such actions are criminally punishable. In 2018, they face a penalty of imprisonment for up to 5 years.

Note to the reader: in order not to become a victim of such deception when buying a used car, before re-registering the car in your name, be sure to contact the traffic police to find out whether the previous owner applied for a duplicate vehicle passport.

Many owners of credit cars who have a title in their hands (having taken out a loan from a bank where the vehicle’s passport is not confiscated) resort to this kind of trick. They submit an early application for loan repayment and try to find a buyer in a short time. Since the title is in hand, they sell the car to the new owner without informing about the loan. The car is deregistered and re-registered to the buyer. At this time, the previous owner is trying to repay the loan with the money received as soon as possible.

And such an operation would also be a fraud, and one that would be quite easy to detect. The traffic police department responsible for re-registration of the car may request permission from the bank to do this with a credit car. The scheme thought out by a resourceful seller will fail.

Selling a credit car is a troublesome task, but it is possible. The main thing here is to obtain permission for the transaction from the bank.