How DealNow Handles Loan Payoffs (Guaranteed)
Quick Summary
When you sell a vehicle with a loan using DealNow, your loan payoff is guaranteed.
- Funds are automatically transferred from the buyer when the deal completes
- Your payoff is sent immediately after closing
- Funds are securely transferred and tracked
- Your lender receives payment directly
- No follow-up is required from you or the dealer
Why This Matters
The biggest concern when selling a car with a loan is simple:
“Will my loan actually get paid off?”
With traditional sales, payoff depends on the dealer following through.
With DealNow, the payoff process is built into the transaction and automatically executed—so there’s no risk of it being missed.
What “Guaranteed” Means
Once your deal is completed:
- The payoff is automatically initiated
- Funds are secured and sent directly to your lender
- The process is tracked from start to finish
Your payoff does not depend on the dealer taking action after the sale.
How the Payoff Process Works
- Deal completes
- Funds are sent from the dealer
- Payoff check is prepared (with required documents)
- Sent overnight to your lender
- Lender processes the payment
- Loan is marked as paid off
When Will My Loan Show as Paid Off?
It’s normal for your loan balance to still appear for a few days after the deal:
- 1–2 business days: Payoff is delivered to your lender
- 2–4 business days: Lender processes and applies the payment
Total typical timeline: ~3–6 business days
Every lender is different—some process immediately, others take a few days.
Why We Include Extra in the Payoff
We include additional days (“per diem”) in your payoff amount to ensure:
- The full balance is covered even if there are delays
- Your loan is not left with a small remaining balance
If there is any extra money after payoff, it is refunded to you by your lender.
What You Need to Do
Nothing.
Once your deal is complete, DealNow handles the entire payoff process for you.