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Sometimes a friendly dealer will pay off the other car that you still owe on and take it in trade. If not, you have to make payments on both until they're both paid off. If the dealer takes your other vehicle in trade at a price less than you owe, you are responsible for paying the balance of the principal. If you want to buy an economy car and you now have a big SUV that the dealer doesn't want to take in trade, you have my sympathy. In that case, you have to try to sell the vehicle yourself that you don't want anymore at the best price you can get for it. Again, if it's less than your payoff balance, you must pay for your new car plus the remaining balance of the old one.
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∙ 15y ago
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How do you buy a new car when you still owe on one?
Don't do it. Buying a new car when you still owe on a current vehicle it very foolish. Pay the one you have off before even considering buying another car.
If you owe money on a financed car that's reposessed and buy another car can anyone take your newly purchased car?
Yes, especially if you leave the keys in it.
Can you buy another car even though is repossessed?
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
What if you buy a used car and it breaks and you still owe on it?
My car is in the impound, i still owe 7,000.00 the impound put a lean. Will the finance Co. take me to collection?
If you dented another car and then that car is totaled in a separate accident before reapirs are made do you still owe for the dent?
Yes - you still owe for the dent.
When you buy a car from a dealership is it registered?
they will register it for you, the price will be included in the final total you owe.
If I owe money on a car can I be stopped from moving to another province?
as long as you are paying for the car they dont care where you go
Should you buy gap insurance?
If you owe more than the car is worth, it is a good idea.
Do you owe sales tax if you buy a car in Florida and take it to Kentucky?
You must pay the taxes due in the state you buy the item in.
Your car has been written off by your insurance company but you have decided to buy the car back and repair it however you will still owe 2000 pounds to the finance company where will you stand?
Your car has been written off by your insurance company but you have decided to buy the car back and repair it however you will still owe 2000 pounds to the finance company where will you stand?
Can you sell back the car to the dealership when your car is wroth more then what you owe?
yes because you don't have to pay for the car. But if the dealership does not want to buy it you can't sell it to them
If you owe 17k on a car but it is only worth 6k can you buy another car from a dealer and a different finance Co then voluntarily repo the old car?
NO. Lenders PAY folks to think like that and create ways to stop it from happening. LOL Good try but no candy.
