Yes, but they may need to requalify, or cash it out. The cash payoff, may be much lower than the loan amount, depending on the state. It will depend upon if the interest is figured into the loan, or not. Since you are paying off the loan early, that may eliminate some interest. Communicate with your bank. They do not want the car back, and will try to help you out.
To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.
CHECK THE LOAN PAPERS. SOME 30 DAYS SOME ARE LONGER. IT ALL DEPENDS ON YOUR LOAN.
Yes, you can sell a car with a loan attached. You must pay off the loan with the money you receive in order to have a clear title or you must get someone to take over your loan.
The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.
Yes. all of it should go toward repaying the loan. That is why they reposessed it...because of the delinquent loan.
If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.
after paying the auto loan to cover the car and more. What's left is the interest rate the lender adds on at the end of a loan, if you become delinquent in paying on the interest added, can the care get repo'd?
That's illegal. Technically, if you 'borrow' money against your vehicle, the car becomes the property of the loan company until you've repaid the loan. If you sell the car before the loan is repaid, you're likely to land yourself in court !
Yes i can
You can't sell it. You don't own it. The bank or loan company owns the car. You need their permission to sell the car and transfer title.
Sell the car for the price of the loan. If you can't get that price out of it, then talk with the bank about your options.
If you can get enough out of the car to pay off the loan then just sell it. If you are upside down on the loan, they that presents a real problem. You may have to just sit on the car until you pay off enough of the loan to be able to sell it an get enough to pay off the loan. You could also sell it and take out another loan that will cover the deficiency, but that may not be a good decision if you are financially strapped.