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The best tool you have is communication. Most banks will try to help you out if you just call them and state your situation this doesnt mean they will allow you not to make a payment for a few months, most likely they will give you some extra time to pay. If that still isn't enough how do you feel about re-financing....you can get a lower monthly payment but pay more interest. If you just stop paying than yes most likely in 1 or 2 months they will repo the vehicle.
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∙ 15y ago
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What can you do if you cant make your car payment and any future payments?
what can you do when you cant make a car payment what can you do when you cant make a car payment
How can you avoid getting your car repoed if you cant make your payments?
keep it into a garage or on a friends property, not a relatives
What can happen to you if you cosigned on a new car?
If the signor fails to make payments, you are responsible. By co-signing, you say that if the signor can not pay, you will would gladly make the payments.
What if you got a car in your name for someone else but they cant pay the insurance What should i do?
I would sell the car. If they wreck then you still have to make the payments and then no one has the car.
What happen if default on car loan?
The loan company takes the car. You loose it unless you make up the missing payments and pay the fees.
What can happen if you finance a 20000 dollar car and don't make payments for a year?
the possible thing that could happen is your car gets repoed and your credit goes down the toilet for that mistake
Can a bank refinance your car if you are upside down on the payments?
YES! You don't make your payments and they will repo. They will then sell the car and you will be responsible for the difference in what the car sells for and the balance on the note. Don't let it happen. Contact the lender and work something out.
What happen if you can not pay your car loan?
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
You bought a car from a used car dealership you ended up missing payments now they are closed down and you cant get a hold of them at all what is going to happen to you and your car?
The used car dealership probably arranged your loan through some financial institution, and not through itself. Check your paperwork to see where payments should go.
What would happen if a person owened a car and die but they still making payments?
The executor must make the payments from any assets of the deceased Estate until the Estate is settled.
You want to surrender your car because you cant afford the payments?
Call your lender.
Does a co-signer have the right to take the car if you are behind on payments?
When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.
