Closing Your Car Sale

Joyous human stick figure closing the sale of an automobile

Make a Customer, not a Sale.

Katherine Barchetti, Legendary Clothing Retailer

 

 

 

 

Sales are easy to find but customers are hard to come by.

Our goal is to provide you with a level of service during the sale of your automobile that you are unlikely to experience elsewhere.

From the online quote for your automobile, to a local inspection and an escrow account for payment.  All of this and a personal representative to assist you every step of the way.


Closing Your Vehicle Sale

How will I be paid?
Question mark with human features asking about the RPM car buying process

All purchases and payments to our customers are processed through our escrow partner, Escrow.com.  We have used them to process payments to our customers since 2004.

As soon as you ask us to buy your vehicle we will open the escrow account and pay for the vehicle. As part of the registration process you will inform escrow.com how you would like them to pay you. They offer multiple settlement (payment) options.  Some payment methods (such as wire transfers) are optional and that cost is paid by the customer.

If you would like to learn more about the services offered by Escrow.com, you can visit them at Escrow.com

When will I be paid?
Question mark with human features asking about the RPM car buying process

You will be paid just as soon as we have completed the inspection of your vehicle and you have sent the title to Escrow.com for payment.

If you do not have the title because there is a lien (loan balance), the lender will send us the title after we send them the payoff balance on the loan account.  Any equity that is due to you will be paid by Escrow.com as soon as we receive the payoff documents in our office. You do not have to wait for us to receive the title from the lender before you receive the equity amount that is due to you.

How does this work if I have a lien on my vehicle?
Question mark with human features asking about the RPM car buying process

A loan on an automobile is a contractual agreement between you and your lender.  We are able to speak with the lender and pay off the loan with your express permission to the lender. We get your written permission on a signed document known as an authorization for payoff.

When you agree to sell us your vehicle, we will call the lender, together, on a conference call that we initiate.  The lender will provide us with an exact payment that will release the lien. This is called a payoff amount.  It is usually given in the form of an amount good for 10 days.

We will prepare, and send to you by Federal Express, the authorization for payoff and a bill of sale for your automobile.  The authorization form is your written instructions to the lender instructing them to accept payment from us, release the lien and send the title to us.  We will also provide a return Federal Express envelope so that you can send the form back to us quickly.

Once the signed authorization is received by us in our office, we will send the authorization form and a cashier's check to the lender and wait for the title to be delivered to us by the lender.  The sale is complete to us as soon as we receive the signed form and a bill of sale from you. 

How do I get the title to you?
Question mark with human features asking about the RPM car buying process

If you have the title to your vehicle, you will send it to Escrow.com by Federal Express.  We  will email a FedEx shipping label to you when we set up your sales transaction.  You keep the title until we have paid for the vehicle and completed the inspection.  We will provide detailed instructions and a template to show you what to write on and where to sign the title before sending the title to escrow.

If you do not have the title because there is a lien (loan balance), the lender will send us the title after we send them the payoff balance on the loan account.

When is the payoff made?
Question mark with human features asking about the RPM car buying process

We will send a payoff in the form of a cashier's check to the lender as soon as we have received the required paperwork in our office and when we have completed the inspection of the vehicle.

A payoff typically leaves our offices to the lender in two to four days after you agree to sell us your vehicle.


When should I cancel my insurance?
Question mark with human features asking about the RPM car buying process

Please leave any insurance for the vehicle in force until you have been paid for the vehicle.

We carry insurance that covers your vehicle while it is at the shop and the shops we work with also carry a type of insurance known as garage keepers liability.

But, you need to be insured too so keep the policy in force until you are paid!  You know the old maxim; Better safe than sorry.

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Support Information

  • Profile of a human face with a question about selling a vehicle
    Frequently Asked Questions You have Questions. We have answers. Find answers to your questions or ask a new one.

  • Gears depicting our process to buy your car
    How We Buy Cars Need to know the skinny? The nuts & bolts? The story? It's so simple we think it's elegant!

  • Bullseye depicting our precise evaluation process of a vehicle's value
    How We Evaluate a Vehicle Customers want to know how we determine a price for a car. No secret sauce used here!

  • Clickable arrow to get started selling your car today
    Get a Quote Get started with an offer now! Quick, Safe, Convenient Process.
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