When a seller has a loan, we initiate a payment to their lienholder when they hand over their vehicle. Most lenders require we pay off loans by mailing a check and it can take 7-10 business days for the lender to reflect the payment.
However, your payment should be backdated to the date they received the check or the following business day. Continue to make any payments due to avoid late fees. Your lender will refund any overpayment.
What if I have additional questions?
If you have additional questions regarding how long it takes your lender to process a payment, we recommend that you contact your lender directly.