The same as if a Georgia dealership, or Michigan dealership, or Massachusetts, New York, New Jersey, Virginia, or a dealership from any other state cannot do so. Actually it is not a question of the dealership, it is a question of what the lender will do. The lender is the party that accepts the risk of loaning you money to purchas a vehicle. If they determine you are not an acceptable risk, then the dealership cannot sell you a car. The dealership has no liability to you.
Indirect Financing: Like the name implies, indirect financing occurs when you go through another institution to secure your loan. In the auto industry, indirect financing entails working through the dealer to finance the purchase. The process is usually obtaining dealer financing, as the dealer does the loan up front and then sells it to a third party lender.Direct Financing: Instead of going through the middlemen to secure the money you need to make your purchase, direct financing allows you to work directly with lenders to secure the best terms and interest rate possible. Once you are approved for a loan through the lender they will give you parameters to stay within by use of a pre approval or even a voucher to pay for your purchase, allowing you to use the money you need to finance your new car at any dealership of your choice as if you where a cash buyer.
The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.
Conventional financing is any loan made by a lender that is not government guaranteed....such as a FHA or VA loan.
The terms of a loan (a contract note) is set by the lender or through a process of negotiation between the lender and the borrower. The latter is most common when the seller is providing seller financing to the buyer of the real estate.
Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.
Before you buy a car, it is a good idea to start looking out how you will be financing your auto loans. Most people are content to settle for the lender offered at the dealership, but this is a bad idea. The dealer is only recommending this lender because they offer a kickback to the dealership. The lender doesn't want to reduce their profits, so you essentially end up paying for this kickback yourself through increased interest rates. It is a much better deal to get approved for an auto loan before you ever set foot in the dealership. Not only will you have a loan with a better interest rate, but you will know exactly how much you can afford to spend. This makes for a great bargaining chip while you are shopping for a car. Let them know that you simply can't afford to buy a car for more than the amount of your loan, because you can't get approved for it. They will typically be very happy to work with you in this regard, because applying for a loan that you can't afford is a waste of everybody's time.
Title seasoning is when the lender requires the seller to be on title for a certain amount of time prior to closing. Title seasoning is only an issue when the buyer is in need of financing. So if you are a buyer who needs financing and you are buying from a seller who's been on title for a week, you need to have your mortgage broker find a lender who does not have title seasoning requirements. If you are a seller, you either need to wait 90 days before you sell a property since that's what a lot of lenders require, find a cash buyer who doesn't need financing, or find a lender that does not have seasoning requirements.
First, the loan contract is not with the dealership. The dealership only represents the lender in the transaction. Second, if the lender hopes to protect their interest, then the contract will state "something" about repossession. In fact one of the papers the borrower signs will be a Right to Cure, meaning essentially the borrower is giving future permission for the lender or the lender's agents to enter private property to secure the unit.
You can get information on reverse mortgage financing from your local mortgage lender or bank. You can also find many places on the internet such as http://www.reversemortgage.org.
Business loanswork much like other business financing products. You and the lender agree on an interest rate and payment plan, and you sign a promissory note that defines your settlement in writing. The lender may require you to provide security for the business loan, such as your home or other important personal assets that the lender can take in case you fail to pay back the money.
Yes, it is possible to get mortgage financing for an investment home through almost any bank or mortgage lender. Most financial institutions have an application that is filled out, on it you are to select investment property; this way for legal purposes the bank and government know this will not be your permanent address.
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Your lender may require insurance to insure that in case of your death, the mortgage is paid. Your lender can explain this requirement to you given your specific situation.
The borrower "gives" the note to the lender... so the lender owns the note which, by definition, simply means the promise to pay a sum certain within a particular time. Therefore, the lender can sell the note!
It depends what type of financing you qualify for. You can get a loan if it is an owner occupied residential home from your bank . if you need private financing you are probably looking at a rehab hard money loan. A direct lender like bridge loans lenders would work.
If there is "multi-financing" on the property already the new lender would only loan more money if there is enough equity in the property to justify the loan. You would need to consult with a lender to determine what the fees would be in your area.
No. In the case of "brokered" loans especially the lien holder is the investor that holds the note. The lender is the broker that helped you secure your financing.
If the repossessed property did not sell for enough to satisfy the debt the lender may decide to seek the rest of the payment through the courts. The courts may decide to require that you sell assets to satisfy the remainder of the debt. If you do not have assets to satisfy the debt the lender may be allowed to require, by court order, that your wages be attached to make payment. While all of these are possibilities courts do not always grant all of these options.
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Financing is a method of payment for items too expensive to pay for in full, a lender such as private party or bank institution will (finance) the item with interest and spread payments out over time .
Sure - this is called "re-financing". The effect is the original loan lender is paid off by the new lender - there might be additional fees for this, or in some cases a heavy penalty for 'early payoff', so be certain to read ALL the fine print in every document.
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
Yes you can get a loan from dealer. If you are a student then there are student car loan available for you. See the link in the related link for more informationDepends on your credit history and what the lender is willing to provide.Ans :Sure You can buy a car.