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March 18, 2024

EV Financing in Germany: A Closer Look at Your Bank's Role in Germany

EV Financing in Germany: A Closer Look at Your Bank's Role in Germany

Selling your financed EV may have various reasons - no matter the reason, luckily it is possible. Not to anybody’s surprise, this task can only be completed after understanding the bureaucratic ways, that Germany has set in place. We’ve done the research for you and will explain the process, including a closer look at your bank’s role. Furthermore, we’d like to introduce you to a platform, that can help you with a smooth transition. Let’s dive in.

Unlocking the Bank's Role: How to Sell Your Financed EV in Germany

In Germany, selling a financed electric vehicle involves understanding the financial agreements with your bank, which holds significant sway in the transaction. The process starts with an essential step: consulting with your bank to understand the terms of your auto loan, particularly how to manage the lien held against your vehicle. To proceed with the sale, the loan balance must be cleared, allowing the bank to release its claim. This could mean using the sale's proceeds or arranging for early loan repayment. Once settled, the bank issues a clearance document, which is critical for legally transferring ownership to the buyer. This procedure underscores the bank's integral role in ensuring that the sale adheres to legal and financial regulations, protecting all parties involved.

Let’s sum it up:

  • Bank Consultation: Initial step to understand loan terms and lien details.
  • Loan Repayment: Essential for releasing the bank's lien on the EV.
  • Clearance Document: Provided by the bank to prove lien release, enabling legal sale.
  • Legal and Financial Compliance: Ensures sale adheres to regulations, protecting seller and buyer.

Essential Documents for Selling Your Financed EV in Germany

The process of selling a financed electric vehicle in Germany involves gathering specific documents to ensure a smooth and compliant transaction. This includes:

  • Loan Clearance Certificate: A document from your bank confirming the loan on the EV has been fully paid off.
  • Vehicle Registration Document (Fahrzeugbrief): Shows the vehicle's ownership history and must be handed over to the new owner.
  • Bank Release Document: Indicates that the bank has released its claim on the vehicle, allowing for its sale.
  • Sales Contract: A legally binding agreement between you and the buyer outlining the terms of the sale.
  • Proof of Insurance: Documentation showing the vehicle is insured up until the sale.

How Cardino Empowers Private Sellers in Germany

Simply said: Cardino is a platform where Private Sellers can auction off their EVs. Cardino hosts online auctions thrice a week, and has revolutionized the way EVs are sold, offering a seamless bridge between private sellers and a vast network of dealers.

How Cardino Facilitates EV Sales for Private Sellers:

  • Expanded Dealer Network: With operations in Denmark, Finland, Germany, and the Netherlands, Cardino offers access to an extensive range of dealers. This expansion not only increases the potential buyer base but also intensifies competition, ensuring sellers get the best possible price for their EVs.
  • Cross-Border Opportunities: Cardino's platform breaks down international barriers, allowing sellers to reach dealers across borders. This cross-border trading mechanism maximizes the chances of securing favorable deals, leveraging the differing demand dynamics and subsidies in various countries.
  • Streamlined Selling Process: From listing to logistics and negotiations, Cardino has digitized and simplified every step. Sellers can effortlessly upload their vehicles for auction, significantly reducing the effort and complexity traditionally associated with selling financed vehicles.
  • Rapid and Supported Transaction: Cardino promises a swift, 14-day turnaround from payment receipt to delivery. They even offer compensation for delays, showcasing their commitment to efficiency and customer satisfaction.
  • Personalized Support: Recognizing the unique needs of each seller, including a financed EV, Cardino assigns a dedicated account manager to guide sellers through the process, providing expert insights on market trends and making the selling experience as smooth as possible.


The sale of a financed EV in Germany requires a thorough understanding of the financial and legal intricacies involved. By engaging with your bank early on and gathering the necessary documentation, you can ensure a legally compliant and smooth transaction. Moreover, using platforms like Cardino not only simplifies this process but also maximizes your vehicle's market reach and potential selling price. With Cardino's support, the complexities of selling your financed EV can be significantly reduced, ensuring a more efficient and beneficial outcome for private sellers across Germany.


1. Can I sell my financed EV in Germany before paying off the loan?

Yes, you can sell your financed EV in Germany before the loan is fully paid off, but you must settle the remaining loan balance with your bank to release the lien on the vehicle. The sale proceeds can often be used to clear this balance.

2. What is a loan clearance certificate, and why is it important?

A loan clearance certificate is a document from your bank confirming that the loan on your EV has been fully paid off. It's crucial because it legally allows the transfer of the vehicle's ownership to the buyer by proving that the bank has no more claims on it.

3. How does Cardino streamline the selling process for financed EVs?

Cardino simplifies the selling process by offering a digital platform for auctioning EVs, providing access to a broad network of dealers, and facilitating cross-border sales. They manage the entire process from listing to logistics and provide personalized support to sellers.

4. What documents do I need to sell my financed EV in Germany?

Essential documents include the loan clearance certificate, vehicle registration document (Fahrzeugbrief), bank release document, sales contract, and proof of insurance. These ensure a legally compliant transaction and transfer of ownership.

5. How does Cardino ensure I get the best price for my financed EV?

Cardino maximizes your EV's selling price by hosting online auctions with an expansive dealer network across multiple countries. This increases competition among buyers and leverages market dynamics, ensuring you receive competitive offers for your vehicle.

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