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Money owing on a car loan is still due, and payable by the estate of the deceased borrower. It's conceivable that certain loans may accelerate payments in the event the borrower dies. In any case, the executor of the estate should make payments as they become due, as with other obligations of the deceased. If a conflict develops between the executor and the bank concerning the loan, an attorney should be consulted.
Wiki User
∙ 16y ago
Wiki User
∙ 9y agoThere are several options for a car loan when a person dies. The family can payoff of the vehicle or assume the payments if they so desire, and the vehicle is titled to that family member or the family can surrender the vehicle back to the lien holder if they determine they can not afford it.
Wiki User
∙ 13y agoit ends up in probate.
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One person car loan and death?
Heirs pay loan or bank takes car.
What happens if your car loan is illegal?
then they take your car and repo it.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
What happens to balance on car title loan when car is stolen?
Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.
What happens to your car loan if you die?
The estate has to resolve the loan, either through selling the car or returning it to the lender.
What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What happens if you don't pay off your car title loan?
they take your car
What happens if you stop paying your car loan?
Repo.......homo
What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
Can you get a loan modification on your car?
Car loan modification is one such option to avoid repossession of your car. So what happens here.... the service provider(loan modifier) studies your loan history and they directly deal with the lender and they modify your car loan .... meaning they help you in Reducing payments and keep your car, boat, SUV or truck.
What happens to a existing car loan when trading your car?
You need to make arrangements to pay it off.
What happens if you dont make any payments on your car loan?
u eventualy lose your car
