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It depends more on your overall credit rating and how much time has passed since you defaulted on your loan. In general the default will be removed from your record after approximately 7 years. After that, it will not have an effect. However, if you you have a bad credit rating due to other defaults, late payments, etc they will continue to negatively affect your credit rating making it difficult to get a loan.
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∙ 15y ago
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Can someone drive to surrender a car to the dealer?
The surrender will depend on who holds the loan on the vehicle. If the dealer has in house financing then an agreement could be made to give the car back. If the loan is through another company, then a deal must be made to give the car to them. They could let you drop it off at a branch, or require someone to pick it up from you.
Can a car lot take back a car after you signed a contract with them they say the loan was not financed?
Yes. You expect them to let you keep the car without paying for it. Go out and get you own financing.
If bought a new car a few days ago with a car loan and now you have to leave the country what can you do to get out of the loan?
CALL the lender. they are the ones who can let you "come out" of the loan.
Do they have to let me transport my car from Puerto Rico?
I am a federal employee, that is being transferred back to the united states from Puerto Rico. My car is under a loan with a bank on the island. I was told that we are treated similar to military personnel, in that since i am "under orders" the bank was obligated to release restrictions on the loan and let me transport it back to the US. Is this true? and if it is, is it written anywhere?
You helped a friend get a car in your name only Now he has given the car back to you because he was able to get a car in his name after having a credit wipe What can you do?
Sell it? Keep it? It's in your name. Do whatever you want with it. If there's a loan on it, and the car's worth less than the loan, you'll have to eat the difference if you sell it. If the loan is in your name you have to make the payments. You could let it be reposessed, but the loan company will sell it and come after you for the difference in what they get and what you owe. Never buy a car for a friend.
How can one get out of a very bad credit car loan?
The best way to get out of a very bad credit car loan is to pay it off or let the company take back the loaned car if applicable. If someone is having hard time of paying off his or her car debt he or she must ask the help of some consolidating expert.
Can a car get reposessed without consent?
Oh, but there is consent. When you signed for that car loan, or you agreed to let a lien be on that car, you consented.
You bought a 02 Grand Am and have a lien on it Why wont a loan Company let you sell the car and finish paying off the loan?
Because its not your car really its the person/company's car that holds the lien.
What is the best website to calculate car loan payments?
You can use online websites to automatically calculate your car payment on a car loan. Also, the car company should have let you know what the monthly fee would be when you bought the car.
What is the purpose of a lien when you get a secured loan?
To let lenders take back property they financed if you don't repay your loan
Can a dealership take a car back due to non-approval after signing contracts?
Non-approval of what? The Car Loan? In that case, yes. If you have no means of paying the loan, credit rating wise, then the dealer certainly isn't going to simply let you keep it without getting paid in return.
How can a car pass another car on a bridge where there is no place to pull over?
One of the cars will have to back up off of the bridge and let the other one pass
