Note: this is called a secured loan. If you used a line of credit or any other unsecured loan, you’re likely lien free on the vehicle. When you sell your vehicle, the buyer (if they are smart, and let’s hope they are) should go to registries and verify if there are any liens on the vehicle.
Determine Your Car’s Current Market Value. If you’re thinking about trying to get out of your car loan contract because of the possibility of it becoming upside-down, it’s a good idea to get an estimate of the car’s current market value, before jumping to any conclusions.
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