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Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.

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โˆ™ 2005-09-15 01:50:18
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Q: Can a bank refuse a payment on a auto loan?
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Related questions

I have an auto loan in my name can i get another auto loan in my name?

If you are already running a loan, then you can take a loan from another bank not from the same bank. If still you want a loan from same bank, then you can get on your parents name.

Is there a website that can calculate bank rates for an auto loan?

There is a website that can calculate bank rates for an auto loan. Simply go on, click on auto, and fill out all relevant information to calculate bank rates for an auto loan.

If you co signed for an auto loan will the bank refuse to give you your own loan even if the original loan is not default?

Not if you qualify with both payments. Since you co-signed for another loan, they will count that debt and payment into your debt ratios. If you still qualify, there should be no issues unless multiple car loans to one person is prohibited by a lending policy.

Can a bank refuse to subordinate a loan?


Where to buy a calculator for auto loans?

You do not need to actually purchase a calculator for auto loans. Most often the dealership you are buying the vehicle from, or the bank you are getting the loan from, will have an auto loan calculator. The calculator will tell you the amount your payment will be for the duration of your auto loan. These can also be found online and are usually free.

What is a good website for a car loan payment calculator?

The auto loan calculator through Bank Rate is a good tool online for determining what a car loan payment might be. You simply enter the loan amount, time period and interest rate and it tells you what you payments will be.

Can an auto loan be canceled after one payment?


What is journal entry when making a payment on a loan?

Bank a/c Dr To Loan Payment a/c

Where can I find a quick auto loan?

You may be able to receive an auto loan through a bank or savings. The government may not provide you with an auto loan.

What companies offer auto loan refinancing?

There are several companies that offer Auto Loan Refinancing. Some online companies include my auto loan and credit provider, however you can also go to your bank or another bank like Citibank and Wells Fargo bank to get a refinancing loan.

If a bank has approved the loan do you have to pay a down payment?

that all depends on the loan, the terms of the loan. you need ask the bank not someone on here.

Can you pay off your auto loan to the lender?

Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.

If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?

Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.

What is the payment address for Bank of America auto loans?

Bank of America auto loan payments may be mailed to the following address: Bank of America P.O. Box 15220 Wilmington, DE 19886-5220 Be sure to put the loan number on your check.

How does the auto loan calculator work?

An auto loan calculator factors in the interest rate of the loan, the loan amount, and length of time for the auto loan. This information givens you the monthly payment as well as loan balance for that particular loan plus the total you will pay over the life of that loan.

Why a bank will repo a car?

Non-payment of loan.

How many months bank statements do I need to give to take an auto loan from a bank?

To get an auto loan from a bank you need to give three months bank statements for your salary account along with many other documents. The salary is reviewed by the bank and then the loan amount is decided.

Where can one find an auto loan payment calculator online?

An auto loan payment calculator can be found on several website online. BankRate offers an easy to use auto loan calculator. Other websites like Cars, CarPaymentCalculator, and Chase also offers the calculator.

Where can one find a good auto loan payment calculator online?

There are a number of sites that offer a good auto loan payment calculator online. Some of the good ones that were found are on the Bankrate site and the Online Loan Calculator website.

What does a loan calculator auto do?

Assuming you mean "auto loan calculator," you can enter the purchase price of a vehicle, estimated interest rate, length of the loan, and down payment amount. The calculator will calculate what your monthly payment will be based on the terms provided.

Is it true that in the state of South Carolina if you offer a title loan company all the money you have but is less than loan payment and they refuse payment does that make the lean void?


can i go into my locate wamu bank and make a mortgage payment?

If you have a loan with Wamu, you can go to any wamu bank and make your payment.

Why would a bank give an auto loan without requiring a lien?

This would not be considered an auto loan by the lender. This would be considered a 'signature' loan. If you have good enough credit and a good relationship with your bank, they will loan you money without collateral.

What exactly is an auto loan amortization ?

The term "auto loan amortization" simply refers to the payment shedule associated with an auto loan. Auto loans can be obtained at a variety of financial establishments, whilst amortization schedules for such loans are available online.

Will a calculator for auto loans help you determine what your monthly payment will be?

Yes, a calculator for auto loans will help you determine how much your monthly payment will be and that is because it will balance out your auto loan will be for, and calculate how much you will own each month dependent on how much your loan will be.

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