Negative Equity Lien Payoff with Wire Transfer

When selling a financed vehicle on DealNow, sometimes the buyer’s offer does not fully cover your loan payoff. This is called negative equity.

Don’t worry—your deal can still close. It just means you’ll need to cover the difference between your loan payoff and the buyer’s purchase price using the DealNow Pay.

Add funds for negative equity deals

1. Navigate to your deal

2. Find step three of the deal, called "Title." Make a note of how much you will need to deposit and click "Add funds"

Tip: Payoff amounts are only good for three days and will change if you do not close the deal within 3 days. So we recommend adding enough funds in the event the deal needs more time to close. Any amount not used for the negative amout can be withdrawn back to the seller.

3. Click "Set up Bank"

4. Click "Set Up Dpay Wallet"

5. Click "Set up Bank"

6. Check off both checkboxes and then click "I agree, continue"

7. Click "Start verification"

8. You will be walked through the verification process if you have not done so already. Once drivers license is verifed you will click "Finish"

9. Once your Dpay wallet is set up you will see this Success modal and you can click "Done"

10. Click "Add funds"

11. Choose the "Wire transfer" option so you can fund your wallet within the 3 days that the loan amount has before it changes

12. Click "Continue"

13. Review instructions for how a wire transfer works and click "Continue"

14. Click "Text me this info" so you can have the wire instructions texted to your phone. You can take these instructions to the bank you wish to send the money from to initiate the wire.

NOTE: Wire transfers need to be initiated from the bank you wish to send the money from.

Wire-transferred funds DON'T process on weekends or holidays, only on business days. Your bank sets their own cutoff times for processing wire transfers. If your bank's cutoff time is 3 pm, a wire transfer you initiate at 3:10 pm won't be processed until the next business day.