0
If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What are deferred payments?
Putting off payments until the end of a loan or to be paid over the course of the remainder of the loan. This will not effect the balance of the loan but there may be fees for not paying on time.
When repaying an amortized loan the interest payments increase over time?
true
What exactly does amortization loan do?
An amortizing loan is a loan where the principal of the loan is paid down over the life of the loan, according to some amortization schedule, typically through equal payments.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
Had a loan for six years but you had 17 payments over 30 days How does this affect your credit?
It will lower your credit rating as finance companies will view you as person slow to pay.
What are deferred payments?
Putting off payments until the end of a loan or to be paid over the course of the remainder of the loan. This will not effect the balance of the loan but there may be fees for not paying on time.
Is amortization of a loan done by all loan places?
Loan amortization is the paying off of a debt over time, through payments. The payments include interest as well as paying of the debt. All loan companies do offer this.
How do you sell your car and have someone take over payments?
For someone to take over the payments they must essentially get a new loan for the payoff amount in their name. This new loan will pay off your loan and will make thir payoff amount higher than yours.
How do turn over a car to another person and have them take over the payments?
Contact the lender. They must approve this, so you need to talk to them.
When repaying an amortized loan the interest payments increase over time?
true
If you can't make the payments on your 2004 SUV what can you do?
Renegotiate the loan with the lender. Sell the car to someone else or have them take over the payments. The very last thing you want to do is default on the loan.
What exactly does amortization loan do?
An amortizing loan is a loan where the principal of the loan is paid down over the life of the loan, according to some amortization schedule, typically through equal payments.
What is the purpose of having a mortgage?
A mortgage is a specific type of loan that allows a person to purchase a house by making payments over a fixed period of time. Over 70% of homeowners currently have mortgages.
Had a loan for six years but you had 17 payments over 30 days How does this affect your credit?
It will lower your credit rating as finance companies will view you as person slow to pay.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
How do you take over payments on a car loan?
Contact the bank or finance company that holds the note on this car. They can transfer the loan to you if you qualify.
What does an installment loan mean?
An installment loan is a loan paid with interest in equal periodic payments, in other words it is a loan that is repaid over time with the set number of schedule numbers.
