Can you refinance a car loan after the car has been totaled and repossessed to get lower payments?

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NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully paid off and owned for security.
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Can you repossess the car if payments aren't made on a private loan?

It depends, if you did not have a security agreement on the loan, and if you didn�t file for a new title with your loan on it, you can�t enforce a repo (this is for Colorado, but it is similar for other states). It seems to be that you need to go to court, and prove to the court that you h ( Full Answer )

How do you pay back the loan company after your car has been repossessed?

%DETAILS% nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time around. I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe ( Full Answer )

What can you do if your car was repossessed but you were not behind in payments?

IF you had ins. coverage and were not in DEFAULT of the loan in any way, CALL AN ATTORNEY NOW ! ! ! Are you sure the vehicle wasn't actually stolen? Usually the only two reasons for legal repossession are being in default on your payment or not keeping the required minimum insurance on the vehicle ( Full Answer )

Can a car loan be refinanced even if the car was totaled to get lower interest?

Unlikely. Most lenders will not loan against a "salvage" or "rebuilt" vehicle. The only time I've seen this done is when the loan is less than 50% of the "salvage" value of the car. For example, if the car in normal condition was worth $20,000, the salvage value would be about $10,000. A lender may ( Full Answer )

Can a car that you own be repossessed for college loan payments that you owe?

Any assets you own, including cars, can be seized if they win a judgment against you in court. Since they can garnish wages and offset tax returns without taking you to court, those are the most common methods of collecting. No, they cannot take your car for college loan payments. They can, howev ( Full Answer )

How hard is it to get a new car loan after a bankruptcy repossessed car has been taken?

Answer . I have friends that have had cars repoed and they and went bankruped and got a car,new in less than a year. I guess they figure you owe no one any money and they have 7-20 years before you can file again.. Answer . \n. \nIt's not hard at all. The only thing is you will pay a higher ( Full Answer )

What happened if you were behind on payments and the lender offered to refinance and lower the payments and said you were approved and then repossessed the car?

Answer . Generally you would have to sign paper work if the bank had approved a refinance agreement . In that case you could take legal action . They could however reposses the vehical if you fell behind again on your payments after sighing the agreement.. Answer . Guess what......... banks a ( Full Answer )

Are you responsible for the unpaid car loan after your car has been repossessed?

Answer . No. Once your car has been taken away, that is the payment. The bank will have to resell the car and get what they can out of it.\n. \nIt depends on the state. Some (like mine) do not require the remaining balance after a resell. But your credit does get ruined for 7 years.. Answer . ( Full Answer )

How soon can you refinance a car loan?

Answer . \nIf you've got a good credit rating you can do it in a day. The best thing to do is figure out your budget, then go to your banking institution to talk over the conditions of the loan (try several banking institutions for good interest rates) and then look for your car. Stick to your ( Full Answer )

How can you get out of a car loan without a repossession?

Answer . Sell it for what you owe if it is possible. Pay off the loan, get the title and sign it over to the new buyer. If you cannot get what you owe, then get as much as you can. Get a personal loan from the bank to pay of the remaining balance. The personal loan is better than the amount you ( Full Answer )

How can you lower your monthly car payment?

You can lower your monthly car payment by making a larger downpayment, so that you borrow less money in total. You could alsochoose the loan with the longest term, for example, paying $250 permonth for five years instead of $417 per month for three years.

Your 5 year car loan after 4 years has been charged off due to non payment over a year ago What now and how do you go about paying and having it not repossessed?

where are you sposed to send the usual payment send it now!!!! or it will be repossesed in the next 3 days! call the number of your loan people and make sure they know you want to pay so they don't reposess. If by chance you were paying bigger payments then the required you Amy have payed it off bef ( Full Answer )

Can you lower your car payments and how?

Yes you could always refinance, if you want the headaches. Iv been down that road already! Its also a more exspensive alternative in my opinion :( I heard about a company on the radio that does Car Loan Modifications in my area about 2 months ago. I worked with a guy named Robert for about 5 weeks, ( Full Answer )

How can you lower your car payment?

Yes you can. I modified my BMW for 295 dollars with a company called Premier Debt Solutions in my home town, i was paying 820.00. worked with a guy named Robert who saved me about 300.00 in only 5 weeks of time. I highly reconmend them if you don't feeel like doing this your self, and pluss refinanc ( Full Answer )

How late does your car loan have to be for a repossession?

It varies bank to bank and also depends on your credit history and history with that lending institution. If you keep the communication lines open they will wait but only if you don't break any promises you make to them. If I had to give a time range I would say that an aggresive bank would begin re ( Full Answer )

Is it legal for a dealership to repossess a car when payments have been made?

Of course it is not legal. But, Lenders do not repossess vehicles when ALL the payments have been made and are up to date. If you were not behind on payments, they would not be repossessing the vehicle.. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until ( Full Answer )

Can a car be repossessed if you have proof of payments?

If you can prove you have made all your payments on time then there would be no need or reason the lender would repossess your vehicle. Call the Lender and talk to them.. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment ( Full Answer )

Should you refinance high interest car loan for lower payment?

One of the increasingly popular methods of finding auto loans is through the Online Auto Financing, due to many companies now moving into the industry. With many young people looking for car loans the market is huge and now many companies are starting to offer loans for people with good or bad credi ( Full Answer )

Can you sell your car to satisfy your loan after its been repossessed?

It is too late for you to sell it. The lender however will do just that.. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and ( Full Answer )

How can you lower loan payment for car?

You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.

Can you refinance a car loan?

Even the most experienced of borrowers and financial mavens may not realize that the term "refinance," commonly used in conjunction with home mortgages and lenders, can also be applied to car loans. More importantly, yes, you can refinance your car loan in an effort to get yourself a better interest ( Full Answer )

Military to refinance a car loan?

If you are in the military then you can use an army loan from OMNI financial to help pay for it. You can get a loan for up to 10,000 and the rates are definitely better than banks.

How to Refinance a car loan with bad credit?

First you should seek out your local bad credit car loan providers, and ask them to provide you the re-financing car loan. In this situation the normal lenders will most likely turn your down.

If you have a repossession on your car how can you get a car loan?

You can get a car loan, but will have to put down a very hefty down payment - sometimes as much as 50% of the value of the car. Small finance companies are more likely to help you out with that, but will charge you the maximum allowable finance charge (usually 29%).

Can your car be repossessed for late payments?

Yes, this is the common reason for repossession. It is in fact the primary reason for the existence of repossession agencies and repossession forwarding companies. It is also the reason the vehicle was used to secure the loan in the first place.

What is a car loan payment calculation?

The easy-to-use auto loan calculator helps car buyers plan monthly car loan payments. Calculate car financing and car payments in advance to make a smart decision on how much you might owe each month.

Can you refinance your car loans?

Do you want an extension on an existing loan or a new loan? You can refinance anything if you can find a lender.

How can one refinance a car loan?

After you have reviewed the terms of your existing auto loan, determined if your car qualifies, and decided whether or not it is even worth it for you to refinance your auto loan, all that is left to do is apply at the bank for refinancing and wait for approval.

What is meant by car loan payment?

When an individual is purchasing a car it is usually acquired by getting a car loan. A car loan payment refers to the payments one makes to the loaning company or bank.

Where can one refinance their car with a new loan?

One can refinance one's car with a new loan by making an application with a new lender, who agrees to pay your original loan. These lenders would include most banks, such as Citibank, HSBC or Barclays, as well as credit unions and building societies.

Can you refinance your car that is about to be repossessed?

If they started that process they are done. The only thing you can do is get money elsewhere and give them cash to get it back if you can get the money. There will be a penalty and you will have to pay for the repossession even. You can do a voluntary surrender if you can't keep it which looks bette ( Full Answer )

Can i refinance car loan with another down payment?

If you refinance a car another down payment is usually not required. I refinanced a car to lower to payments and it added another year to the payoff date of the car. I wasn't required to give a down payment.