How to find out how much finance is left on your car

Before you can sell a car with finance owing, you need one number: the payout figure. Not the outstanding balance on your statement, not a rough estimate. The exact amount your lender requires to release the security interest on the vehicle. Here's how to find it.

Check your lender's app or online account first

Most major lenders in Australia now offer an online portal or app where you can view your loan details, including the current balance and remaining term. Log in and look for a section called "loan details", "account summary", or similar. This gives you a live view of what's outstanding.

One important distinction: the balance showing in your app is the outstanding principal and interest to the end of the loan. The payout figure is different. It includes any break fees, early repayment costs, or interest calculated to a specific settlement date. The app balance is a useful starting point, but it's not the number you need to give a buyer or a solicitor.

Request a formal payout figure from your lender

The most accurate way to find out how much finance is left on your car is to contact your lender directly and ask for a formal payout figure. Most lenders will provide this:

• Over the phone
• Via secure message through their online banking portal
• In writing by request

The payout figure is calculated to a specific date, typically 30 days from the request. It includes all outstanding principal, interest accrued to the settlement date, and any applicable fees. Keep that date in mind: if the sale takes longer than expected, you'll need an updated figure.

Ask for the response in writing. A formal payout letter from your lender on their letterhead is often required by the buyer, by the conveyancer, or by a dealer handling the settlement. Without this document, a private buyer has no way to verify that the loan is being settled as part of the transaction, which means many will ask for it before they agree to proceed.

Keep in mind that payout figures expire. If your figure is calculated to a date 30 days away and the sale takes 45 days to finalise, you'll need to request an updated figure. Factor this in when you're planning your timeline.

The difference between a balance and a payout figure

This distinction matters when you're trying to price your car. If you still owe $18,000 on your loan but the payout figure to settle in 30 days is $18,450 (due to residual interest and fees), you need to account for that gap.

Used Ford Rangers and other popular utes are frequently bought on finance. If the current market value of yours sits at $38,000 and the payout figure is $18,450, you have roughly $19,500 in equity after settlement. That's a healthy position. But if the car is worth less than the payout figure, you're in negative equity, which requires a different approach to the sale. Either cover the shortfall from savings, or negotiate with your lender about options.

What a PPSR check shows buyers

When a buyer runs a PPSR (Personal Property Securities Register) check on your car before purchase, they won't see your loan balance. What they will see is whether a security interest is registered against the vehicle. That encumbrance shows up as a flag, and any serious buyer will ask you to resolve it before they proceed.

This is why knowing your payout figure and having a settlement plan in place before you list is important. A buyer who sees a PPSR flag and no clear path to resolution will often walk away entirely, even if the car is priced well and in good condition. A seller who can say "the payout is $X, settlement happens on the day of sale through the lender directly" is in a much stronger position. Transparency here is an asset, not a liability.

What to do once you have your number

Once you have the payout figure, you can work out your net position:

Expected sale price minus payout figure equals your take-home amount.

Write that number down before you set your asking price. It's easy to focus on the sale price and overlook the fact that a chunk of it goes straight to the lender. If your car is worth $32,000 and the payout is $22,000, you're taking home $10,000, not $32,000. Pricing the car without accounting for this leads sellers to underestimate their net position or, worse, to discover a shortfall at settlement.

From there, decide how you want to handle the settlement. In a private sale, the standard approach is for the buyer to pay the lender directly up to the payout amount, with any remaining balance paid to you. Some buyers are comfortable with this; others aren't. A licensed dealer handles this as a standard transaction.

If selling privately with a loan feels complicated, Carma can help. When you sell to Carma, we help manage the finance payout as part of the process, so the steps that trip up a financed private sale are taken care of for you. No need to coordinate directly with your lender or explain encumbrances to a private buyer.

Get a valuation from Carma and find out what your car is worth today.