Both the buyer and seller verify their identity with KeySavvy. We also verify title and registration to guarantee a worry-free transfer of ownership.
The buyer links their bank account and pays online. Wire transfers, Zelle, and credit cards are also accepted.
The buyer and seller meet to exchange keys. If the vehicle is being shipped, buyers can arrange delivery with the shipper of their choice. We can provide a temporary permit so it's legal to drive right away.
Once either the buyer or the shipper picks up the vehicle, KeySavvy pays the seller via direct deposit (ACH). If the seller has a loan, we'll pay their lender directly and send the title to the buyer.
Buyers and sellers can also choose to split fees equally, or have one party pay all fees.
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.
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, 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.
How to sell a financed car with KeySavvy
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.
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.
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.
Yes, in order to register your vehicle, you will need to pay taxes and registration fees to your state. KeySavvy doesn't collect taxes and fees when you pay for your vehicle, except for Minnesota residents. For all other states, you'll pay taxes and fees when registering the vehicle at your local DMV.
If you're a Minnesota resident, KeySavvy will register the vehicle for you. We'll reach out to collect additional information, such as a picture of your insurance card and your preference for license plates.
Yes, your payment is refundable (including our fee) until you pick up the vehicle from the seller or until it's picked up by a vehicle shipper.
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KeySavvy is a licensed auto dealer, regulated by Minnesota Driver & Vehicle Services. License #DLR100357.