How does KeySavvy work?

Sellers pay a flat fee of $79. If the vehicle has a loan, KeySavvy charges an additional $99 to pay off the loan as part of the sale.

Buyers also pay a flat fee of $79.

Buyers and sellers can split fees equally, or have one party pay all fees.

Unlike payment apps like PayPal and Cash App, KeySavvy verifies the buyer's identity and the seller's ownership of the vehicle. We guarantee buyers receive a clear title and sellers get paid. In contrast, PayPal explicitly excludes vehicles from purchase protection.

Other peer-to-peer payment services are primarily intended for smaller transactions between friends and family. They have limits that are much lower than a typical vehicle sale price. KeySavvy has no transaction limit and guides buyers and sellers through the process, including help with all the necessary paperwork and title transfer. As a licensed dealer, we have access to data that enables more thorough verification and helpful services like temporary operating permits.

Similar to escrow services like Escrow.com, KeySavvy collects payment from the buyer and pays the seller when the buyer picks up the car. However, KeySavvy is specifically designed for vehicle sales. Since we're a licensed dealer, we can verify the seller's ownership to protect buyers from title fraud, work with banks to pay off the seller's loan, and issue temporary permits so it's legal to drive the car immediately.

KeySavvy provides a NMVTIS vehicle history report, verifies the identity of the buyer and seller, and checks for loans and liens that would prevent the buyer from registering the vehicle.

CARFAX and AutoCheck provide vehicle history reports, but they don't protect against buyer or seller fraud, or allow buyers and sellers to complete their transaction online.

KeySavvy uses third-party identity verification technology to confirm the seller's identity. We then use a combination of public records, seller-provided information, and DMV records to verify that the seller is the legal owner of a vehicle.

We do not share the seller's personal information with the buyer, and we do not share the buyer's personal information with the seller.

After the seller adds their vehicle to KeySavvy and a buyer accepts their price, verification generally takes 5-10 minutes. If the seller has a loan, we'll contact their lender which can delay a transaction depending on the lender. After the buyer submits payment, we usually approve the transaction within 15 minutes.

Yes, KeySavvy enables you to purchase a vehicle when the seller still has a loan or lien.

In a typical private party sale, the seller can't transfer ownership to you without first paying off their loan. Paying a seller with cash or a cashier's check and not receiving the title right away is risky for buyers. Because KeySavvy is a licensed dealer, we can handle the loan payoff and sale as part of the purchase process, and issue a temporary permit that allows you to legally drive the car right away.

Yes, KeySavvy works with most local banks or credit unions. Because KeySavvy is a licensed dealer, we're able to work with lenders that don't normally finance private party sales.

Before you shop for your car, we recommend you get pre-approval from your bank or credit union so you know how much you can borrow. Let your bank know that you're buying from an independent car dealer, since some banks don't offer loans on regular private party sales. Note that if your seller has a loan, most lenders won't allow you to finance your purchase.

When you and the seller agree on a price, KeySavvy generates a Purchase Order that you take to your bank. Your bank issues a check or sends a wire transfer to KeySavvy for the loan amount. After KeySavvy verifies the payment, you pick up your car, and we pay the seller and take care of the paperwork.

Yes, you can pay a seller even if they're located out-of-state. If you're picking up the vehicle in-person, we'll pay the seller when you pick up the car. If the vehicle is being shipped, we'll pay the seller when the shipper picks it up, as long as we've already received the title.

When a vehicle is shipped, KeySavvy requires the seller to mail us the title to be held in escrow, along with your payment. This helps us protect buyers from mistakes on the title that could prevent or delay registration with your state DMV. If the seller has a loan, we'll mail additional paperwork to the seller that enables us to transfer the title to you. Sellers are not paid until we receive all required documentation.

KeySavvy does not make any guarantees regarding the condition of the vehicle and third-party inspections are highly recommended. Read our blog article about pre-purchase inspections to learn more.

Yes! You don't need need to pay off your loan before you sell your car -- KeySavvy will pay it off as part of the sale process when your buyer pays with KeySavvy. We charge sellers a $99 fee when there is a loan or lien on a vehicle.

After KeySavvy verifies and approves a sale, we'll send you an email letting you know it's OK to give your vehicle to the buyer. For most transactions, we'll initiate your payment as soon as the buyer confirms they have possession by clicking a button on their KeySavvy dashboard.

For sales where you need to mail your title to KeySavvy, we'll still initiate your payment as soon as you hand over your keys, but only if we've received and processed your title. Sales that require mailing your title to KeySavvy include those where the buyer is shipping the vehicle, the buyer is applying for the Used EV Tax Credit, or if you have loan and reside in a title-holding state. KeySavvy may require mailing your title for other sales, but we'll let you know in advance.

Many sellers choose to mail their title in advance, after we verify their buyer's payment. We'll provide a guide for signing and mailing your title.

When a vehicle is shipped, we initiate the seller's payment as soon as we receive the title and the vehicle is loaded on the trailer. The seller's bank usually makes funds available within 1 business day.

We require the seller to send us the title for verification before initiating the seller's payment. This helps prevent errors and omissions that would invalidate the title or delay the buyer's registration.

Yes. If your loan is more than the sale price of the vehicle (called "negative equity", "upside-down", or "underwater"), you can still sell with KeySavvy. In fact, we make it easier because you don't have to pay off your entire loan before selling your car.

When you agree on a price with a buyer, we'll get a 10-day payoff quote from your lender. We'll collect the difference between the sale price and the payoff amount from you before your buyer picks up the vehicle.