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So long as you have the title in hand, you can do what you want with your car when you sell it, give it away for free, charge only half price or carry the note and have the buyer send monthly payments in the mail. The latter would require you to judge/determine how reliable and creditable the buyer is. But, in my opinion this is how america should be, shake the buyers hand look him in the eye and tell him you'll come hunt him down if hes late even once! yee haw!!
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∙ 11y ago
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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.
Which websites carry details on car loan amortization?
To find information on car loan amortization visit thecalculatorsite.com. They have various calculators available.
What happens if you are paying on a car loan and the car gets impounded?
you continue to pay the note. just because you do not have the car available to drive at your whim doesn't allow you not to pay the note.
What do you do when you cant fix your car and you still owe on a loan?
You still pay the car note and enjoy the lawn decoration
Can a car loan be transfferd?
It can be transferred to a co-signer only. If their is no co-signer on the note, then your answer is no.
If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?
As the primary, you are the first one they go after.
Why do they call it a car note Is note short for another word?
Because in former times, your auto loan came with a payment booklet and in the booklet was a series of "notes", which were slips of paper that contained pertinent information about your auto loan that aided in the recording of said payment, that you sent in with your check for your loan payment. A similar term for a loan is a "promissory note" which is a signed debt or IOU.
Do you have to carry car insurance on a car you cosigned for?
No, BUT the person driving it does and if they fail to do so and the car is totaled then you will both be on the hook to pay off the loan...so its something to think about
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
Do you have to have collision on car that has car loan?
A bank will want full coverage. It is a state law to carry comprehensive insurance ( collision ) on any vehicle with a lien.
If you cosigned on a car loan and the car got repoed can you get the car back if you pay the loan off?
Yes, You are still considered a signer of the note. You will have to pay repo costs and any other charges that may have occurred, but you have every right to get vehicle back. talk to your bank where the loan was processed and they should help.
What is a mdi adjustment on a car payment?
When you take a loan out on a car, the company that loans you the money requires you to carry insurance to cover the loss of the vehicle in an accident. If you do not provide them with information, or do not carry insurance, they will get insurance for you, and charge you the cost.
