Wondering how to sell your car in Gurnee,IL? Gurnee Volkswagen has got you covered. Usually when Gurnee, Waukegan, Libertyville,and Vernon Hills-area drivers come to us with a car they'd like to sell, they're in one of three situations:

  1. They own their car outright.
  2. They are still paying off their loan, and they have equity.
  3. They are still paying off their loan, and they don't have equity.

We can show you how the process usually goes when selling a car. Keep in mind, we buy cars, so you can sell us your car quickly and easily by just picking up the phone and giving us a call! By selling your car through a dealership like ours, you'll also get the added benefits of:

  • Full transparency of the sale
  • Not having to deal with banks concerning your vehicle's potential payoff or loan information (our expert finance team will do that for you)
  • Selling your car much more quickly than other DIY methods

Now, learn how to sell your car instantly with this guide from Gurnee Volkswagen!


Selling a Car You Own Outright

If you own your car outright, that means your car is fully paid for with no loan attached to the car, and you have the title of your vehicle in hand. Since we buy cars, we or another dealership may have found your listing on Facebook Marketplace or Craigslist in Libertyville, or maybe you came to Gurnee Volkswagen for an appraisal or called so you could sell us your car. No matter how you got in contact with us, we go through the same process each and every time:

  1. We agree to a deal over the phone, through email, or Facebook Messenger.
  2. Once we agree on a price to purchase your car, our general manager or sales manager calls you to get more information on your vehicle such as whether or not you own your car outright.
  3. Then, together we set a time and day for us to do the transaction and pick up your vehicle.
  4. Once that's set, our delivery specialist will come to your home on the appointed day to pick up your car.
  5. They'll give you paperwork to sign including: a bill of sale at the agreed price, a power of attorney form, and an odometer reading statement.
  6. Once those are signed, you hand over your keys and the signed title to your car, and our delivery specialist gives you a check for the agreed amount right then and there.
  7. Our delivery specialist will then give you a proof of sale, and take your vehicle away. Just like that, your check is ready to be cashed!

Selling a Car You're Still Making Payments On: Does Have Equity

If you have a loan on your car that you're still making payments on, but the amount left on the loan is less than the car's value, then that means you have equity. Since we buy cars, we or another dealership may have found your listing on Facebook Marketplace or Craigslist, or maybe you came to Gurnee Volkswagen for an appraisal or called so you could sell us your car. No matter how you got in contact with us, we go through the same process each and every time. Since your car has equity, instead of receiving a check for the full value of your car, you'll receive a check of the difference between the loan amount and the car's value. The amount received will vary depending on your current loan amount and your car's value, and the process will be slightly different from if you were to own your car outright:

  1. We agree to a deal over the phone, through email, or Facebook Messenger.
  2. Once we agree on a price to purchase your car, our general manager or sales manager calls you to get more information on your vehicle such as whether or not you own your car outright.
  3. Since you still have a loan on your car, we get your loan information from you and your bank.
  4. Using that, we calculate the difference between the loan amount and the agreed on price.
  5. Then we outline how much you'll be receiving in cash after the loan has been paid off completely.
  6. Then, together we set a time and day for us to do the transaction and pick up your vehicle.
  7. Once that's set, our delivery specialist will come to your home on the appointed day to pick up your car.
  8. They'll give you paperwork to sign including: a bill of sale at the agreed price, a power of attorney form, and an odometer reading statement.
  9. Once those are signed, you hand over your keys, and our delivery specialist will take your vehicle.
  10. We'll then pay off the entire loan from the bank.
  11. Once that loan is paid off, your bank will send the title to our dealership.
  12. Once we receive the title, we then give you a check of the difference we calculated earlier. Keep in mind that the process of receiving the title from the bank can take anywhere from 2-6 weeks, but once that's over, your car has been sold and you'll receive the difference in dollar amount!

 

Selling a Car You're Still Making Payments On: Doesn't Have Equity

If you have a loan on your car that you're still making payments on, and the amount left on the loan is greater than your car's current value, then you don't have equity. Since we buy cars, we or another dealership may have found your listing on Facebook Marketplace or Craigslist, or maybe you came to Gurnee Volkswagen from Vernon Hills for an appraisal or called so you could sell us your car. No matter how you got in contact with us, we go through the same process each and every time. Since your car doesn't have equity, instead of receiving a check for the full value of your car, you'll have to pay us the difference between the current loan amount and the car's value so that we can pay off the loan for you. The process will be slightly different from if you were to own your car outright:

  1. We agree to a deal over the phone, through email, or Facebook Messenger.
  2. Once we agree on a price to purchase your car, our general manager or sales manager calls you to get more information on your vehicle such as whether or not you own your car outright.
  3. Since you still have a loan on your car, we get your loan information from you and your bank.
  4. Using that, we calculate the difference between the loan amount and the agreed on price.
  5. Then we outline how much you'll have to give us in order for us to pay off your entire loan.
  6. Then, together we set a time and day for us to do the transaction and pick up your vehicle.
  7. Once that's set, our delivery specialist will come to your home on the appointed day to pick up your car.
  8. They'll give you paperwork to sign including: a bill of sale at the agreed price, a power of attorney form, and an odometer reading statement.
  9. Once those are signed, you hand over your keys and the agreed upon amount to pay off the remaining balance of the loan, and our delivery specialist will take your vehicle.
  10. At this point, we'll pay off the entire loan from the bank.
  11. Once the loan is paid off, your bank will send the title to our dealership.
  12. Once we receive the title, we'll confirm with you that the sale has been finalized, and that we've received the title. And that's the end of the process!

Now you know how to sell your car in Gurnee, IL! Remember, although this process might be similar elsewhere, here at Gurnee Volkswagen, we buy cars! Just contact us, and you'll be able to sell us your car quickly and easily. If you want to save on your next vehicle purchase, you can also use our value your Vehicle tool!