It is entirely up to your lender, talk to them, most really don't want the metal (car) and would rather keep you paying even if it means modifying the loan.
You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.
Car loan modification is one such option to avoid repossession of your car. So what happens here.... the service provider(loan modifier) studies your loan history and they directly deal with the lender and they modify your car loan .... meaning they help you in Reducing payments and keep your car, boat, SUV or truck.
Call them and ask them to help you modify your loan. Call them and ask them to help you modify your loan.
The repossession stays on your credit report for 7 years.
Yes. They can! The car is their equity basically!
yes you can
You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.
Generally, I can't think if any way that your towing coverage would have anything to do with you auto loan. If your vehicle was repossessed and charged your account for the cost of repossession your auto policies towing and labor coverage would not cover this cost.
It is possible; Wisconsin is a self-help repossession state. Hiding the vehicle is called hindering repossession and is comparable to auto theft. When you purchase a car by loan, you do not technically own the car outright. You own it cooperatively with the loan provider. When you default on your loan, you give up the rights you had to the vehicle, and via lien law, the loan provider now owns the vehicle. Therefore it is not yours to hide.
MOST auto loan contracts give the right to determine which state laws govern to the LENDER.
If your looking for an auto loan calculator, Bankrate is a great place to start. They provide car loan and auto loan calculators to help with your buying decision. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx
An auto loan is a secured loan. A lien on the car helps the lessen the risk for the lender.