How to sell a ford-financed Mach-E

[alex-mache]

Hi, I'm looking to sell my Mach-E. I have it financed by Ford (regular loan around 2.5%, not the one with balloon payment at the end).

Certainly, I have an option to pay it off and then sell.

But https://accountmanager.ford.com/selfservices has an interesting option - to transfer the loan. Does anyone have an experience successfully transferring their loan?

Thank you.

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[connoisseurr]

If it’s Ford Options, treat it like any other normal loan. You can sell to a dealer and they’ll payoff your account directly, or you can sell privately. If selling private and the buyer is financing, their lender can perform a net-payoff with your lender (Ford Credit) to complete the transaction. If your private buyer pays cash, complete a notarized bill of sale, any required DMV forms and accept payment by wire. Once funds are confirmed by you, the seller, pay off your loan, and send the title to the buyer.

I’ve done a lease transfer with Ford Credit and they require the buyer taking over the lease to complete a credit application to determine worthiness. If all checks out, they can assume the lease. The same process applies with Ford Options finance contract, which was confirmed twice with Ford Credit.

 

[newmme]

OK, the manager has found it - without my help! All the same, thanks @shanky2008 !

While I was waiting, however, I logged into my Ford account and found this:

Now need to calculate what's better over 4 years:
2.459%
or
3.9% with $2000 discount.

One thing I'm still missing is that 'Your Estimated Pre-Tax Price' is $42,865, which is much less than $51,365-$2000.

Taking a break until tomorrow morning to let this sink in.

Looks like you just got the car. Did the HV battery fail, or is it the uncertainty of when it goes out a factor? Sorry it did not work out. Hopefully you find an EV that is better for you.

 

[RedStallion]

If you are selling to a dealership they will arrange for paying off the loan, transferring title. But the difficulty can be with a private transaction. Nobody would buy a car w/o a title, and Ford won't release the title before the balance payed off. The loan itself is likely non-transferrable. Moreover the title is likely held electronically, which means Ford Credit would have to transfer it to DMV first, which can issue a paper title, and then the buyer can finish transfer after paying sales tax and other fees. That may take a long time.

 

[alex-mache]

Thanks all. I was just hoping that I can do a private sell without having to allocate a large $$$ amount temporarily to pay off the car. From what connoisseur says, that might be possible.

Looks like you just got the car. Did the HV battery fail, or is it the uncertainty of when it goes out a factor? Sorry it did not work out. Hopefully you find an EV that is better for you.

Thank you. The decision to sell was not related to HV battery at all.

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