Need To Ditch Your Car Payment? Now Might Be The Perfect Time.

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North Carolinians are struggling to make their car payments. 

Early in the pandemic, vehicle repossessions decreased significantly when many households received stimulus checks. Now, due to rising interest rates and unaffordable used car prices, repossessions are slowly creeping back up towards pre-pandemic levels. 

If you’ve considered selling your vehicle to get out of the monthly payment, now might be the perfect time to do so. 

Current market conditions favor sellers – but that won’t be the case for much longer.

The COVID-19 pandemic caused a widely-publicized car shortage. Low stock on dealership lots combined with high demand for private transportation, resulting in record high prices on used cars in 2020. Buyers were forced to take out higher loans with worse interest rates – and with the economic downturn early this year, those loans are starting to look unsustainable. 

As buyers are forced to sell back their cars, dealers will find themselves with a glut of inventory to choose from, and will no longer need to offer those jaw-dropping buyback prices to fill their lots. 

We predict that the value of your car, truck, or SUV will soon return to pre-pandemic levels – so if you’re considering selling your vehicle, the time is now.

Selling now could save a ton of money.

As remote work has become more prevalent, many North Carolinians are selling their spare car or downsizing to achieve a lower monthly payment. Less commuting, and driving fewer, smaller cars can also make a huge dent in monthly fuel budgets, insurance payments, and interest on your loans. So much money saved could make all the difference when riding out an unfavorable economic swing.

Selling your vehicle has never been easier.

Selling your vehicle can be a daunting task, but with it doesn’t have to be.

In the past 6 years we’ve purchased over 4,000 vehicles, and honed the process for our customers. We come to you, inspect your vehicle, do the paperwork, and pay you on the spot. The entire appointment takes less than thirty minutes, and there’s never a hold on our checks.

You can sell a vehicle even when you still owe money on the loan.

If you want to get out of that high monthly car payment, we even take care of paying your loan off in its entirety. 

We gather the necessary information needed to pay off your account: the payoff amount, where to mail our check, and what the financial institution or bank would like in the memo of the check. Once purchased, we put a loan payoff check in the mail that same day.

What if I still have equity in my vehicle and owe less than the offered price? 

If you owe less than the offered price, that’s great! We’ll write a check to the bank to pay off the loan, and write you a check for the rest.

For example, if offers you $26,400 for your vehicle, and you owe the bank $23,200: we write the bank a check for $23,200, and write the customer a check for $3,200. 

What if I owe more than the offered price for my vehicle? 

If you owe more than the offer price that is offering you, then you will need to have the funds to pay off the price of the vehicle. 

For example, if offers you $9,500 for your vehicle, but you owe $10,200: we write a check to the bank or financial institution for $9,500, and have you write a check for the difference of $700. 

Are you ready to get out of that daunting car payment? Get more for your vehicle today with!

If you have any questions or are looking to sell your vehicle, don’t hesitate to give us a call at 1 (844) 400-MORE. From there you can select to speak with our buyer for Raleigh/Durham and surrounding areas, or our buyer for Fayetteville/Wilmington and surrounding areas. You can also chat with one of our buyers through our online chat feature!