What happens to my loan if I sell the vehicle?

When a borrower sells a vehicle that has an outstanding loan from Wells Fargo Automotive Finance, several key factors need to be considered. Generally, the borrower is still responsible for repaying the loan in full, regardless of whether the vehicle has been sold. The first step would typically be to determine the remaining balance on the loan and establish the vehicle's selling price. If the selling price exceeds the remaining balance, the borrower can use the proceeds from the sale to pay off the loan. This may allow the borrower to avoid interest payments on the remaining balance, while also providing some extra funds, if the vehicle was sold for more than the owed amount. On the other hand, if the sale price is less than the loan balance, the borrower will need to cover the difference. It is important to contact Wells Fargo Automotive Finance to review the options available for transferring the loan or paying off the balance promptly after the sale. For specific instructions or additional information, the borrower can visit the appropriate web page where updated contact information may be available to seek assistance.