Will escrow service pay off the sellers car

Asked by B_rad13 Jun 03, 2022 at 11:41 AM about the 2015 Dodge Challenger R/T Scat Pack Shaker RWD

Question type: General

Will an escrow service pay off an auto loan??  We found a vehicle but the seller
wants us to pay off the loan then 10 days later she will sign over title once she
gets it.  We are not comfortable with this transaction and were wondering how
others handle private sales of cars not paid off yet

1 Answer

155,525

Most times you and the seller go to the finance company that's holding the title. You pay the finance company directly and take the vehicle. When the seller receives the title they sign it over to you. Be sure to get a written receipt from the finance company for your payment and a written statement from the seller stating that they will immediately sign the title over to you upon receipt. You should both sign the statement and each keep a copy. Getting a third, uninterested, person to sign the statement as a witness is helpful. If the seller balks, move on to another vehicle. Hope that helps! Jim

1 people found this helpful.

Your Answer:

Own this car?

Share your experience with others.

2015 Dodge Challenger

Review another car

CarGurus Experts

  • #1
    Top_USMC
    Reputation
    1,530
  • #2
    cubfan08
    Reputation
    1,080
  • #3
    Chase Sutherland
    Reputation
    980
View All

Know more, shop wisely

Search

Related Models For Sale

Used Dodge Charger
781 Great Deals out of 26,626 listings starting at $1,995
Used Chevrolet Camaro
590 Great Deals out of 9,144 listings starting at $4,289
Used Ford Mustang
910 Great Deals out of 22,424 listings starting at $2,000
Used Chevrolet Corvette
796 Great Deals out of 12,773 listings starting at $2,800
Used Jeep Grand Cherokee
2,604 Great Deals out of 52,498 listings starting at $800
Used Dodge Durango
861 Great Deals out of 22,970 listings starting at $1,880
Used Chrysler 300
344 Great Deals out of 7,043 listings starting at $999
Used Ford F-150
6,052 Great Deals out of 135,911 listings starting at $1,100
Used RAM 1500
3,889 Great Deals out of 91,206 listings starting at $3,500
Used Chevrolet Silverado 1500
4,255 Great Deals out of 131,863 listings starting at $875
Used Jeep Wrangler
3,172 Great Deals out of 61,432 listings starting at $3,999
Used Ford Mustang Shelby GT500
37 Great Deals out of 539 listings starting at $22,990
Used BMW M3
59 Great Deals out of 1,072 listings starting at $11,999
Used BMW M4
73 Great Deals out of 1,416 listings starting at $23,999

Used Cars for Sale

2023 Dodge Challenger For Sale
107 Great Deals out of 12,409 listings starting at $20,930
2022 Dodge Challenger For Sale
126 Great Deals out of 1,862 listings starting at $18,950
2021 Dodge Challenger For Sale
101 Great Deals out of 1,404 listings starting at $15,948
2020 Dodge Challenger For Sale
51 Great Deals out of 799 listings starting at $15,262
2019 Dodge Challenger For Sale
70 Great Deals out of 909 listings starting at $13,995

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.