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Sometimes yes. In some situations, such as default on a loan, the lender will take into consideration that something is better than nothing or less than the settlement amount. In cases where the vehicle is or soon will be up for repossession, the lender may feel it is better to settle for a lesser amount, than to go through the trouble to send the account for repossession, and conversion of the collateral, as well as attempting to secure the additional fees that come with and follow repossession actions.
What else can I help you with?
How do I save my car from repossession?
Generally once your lender has identified your car for reposession, you must pay off the existing loan in full to keep your car. However, it doesn't hurt to try to negotiate with your lender for a better deal.
How do you get out of a buy here pay here car loan?
Go to your bank, negotiate an agreeable finance rate, pay off the buy here pay here. You will still have monthly payment but, usually at better rates without the hassle.
Should you trade your car in or pay it off?
pay it off
What is the shortest amount of time I can take to pay off my car?
You can pay off your car as fast as you can. That's great you can pay it off so quickly.
Should you pay off your repo car?
You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.
Negotiate with Car Rental Agencies?
A secret that many car renters are not aware of is that representatives at car rental agencies are willing to negotiate on the car rental prices. They want their cars off their lots so they will give rock bottom prices to car renters who know how to negotiate. It's best to try these negotiation tactics toward the end of the day.
How do you get out of a car loan that you don't want anymore?
Pay it off, voluntary repossession, sell the car and pay it off.
Can you buy a car if lien on car?
Yes but make sure YOU pay the lien off and don't just pay the seller and hope they will pay it off.
How much money does a car dealership pay for a car?
It depends. You should check kelly blue book to see what your car is worth and then negotiate with the salesperson. this is the site: http://www.kbb.com/
What can you do if you lost your job and your car was repossessed about 2 months after you purchased it?
Pay it. negotiate with the lender for reduced payoff.The lender can get wage garnishment.ect. They will hound you till you pay.
How do you trade in a car that is not paid off?
Pay the bill off and sell it or borrow enough on the new car to pay off the old car and finance then new one. My advice is to not consider trading until you pay off the car you now own. That way you will be in a much better financial condition to purchase another car.
Do you have to pay off the car loan if you have totaled the car?
Yes, if your insurance company will not pay it all.
