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Anytime there is a balance due, you can pay off that balance.
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∙ 13y ago
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Can I trade in my car when there is a loan balance?
You can trade your car in, however the loan balance must still be satisfied.
Can a bank repo a car after the contract has expired and you still owe money on the loan?
A contract for a car loan does not expire. A borrower must pay the balance on the loan in full, according to the terms, in order to take ownership of a car. A lender can repossess a car at any time due to a default on the loan, even if there is only one payment left.
When you give a car back to the bank will you still be held responsible for the balance of the loan?
Yes.
Can you roll the balance of a carloan into a new car loan?
No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
Do you still have to pay the difference in the Loan?
Yes, you are legally bound to pay the difference is what the lender sells the car for and the balance on the loan.
How do you finance a new car if you still owe on your present car loan?
You need to pay off the present loan. Most people do that by adding the balance on to their new car loan, getting deeper and deeper into debt.
How do you find out how much you still owe on your car loan?
Contact your lender to obtain the outstanding balance.
What happens when they repo a car and loan is still owed and they put car up for auction Who is responsible for the balance of the car loan?
I'm not sure if this is valid in every state, but I believe that if the car is sold at an auction, you will still be liable for the left over balance. If the car is sold at an auction and the sell price covers the balance of the loan then, I don't think you will need to pay anything else. Maybe some fees for the repo. I "think" this is how it works
Can you trade in your car if you still owe on the auto loan?
yes you can trade it in. But if you owe more than what the dealer is going to give you for the car the remaining balance will be added to your new loan
Can a primary signer of a car loan voluntarly repo a car without the cosigners permission?
More than likely, however you will still end up owing a balance on the car and the primary signer and co signer will still be responsible for the balance.
When a person died by naturally then what happen car loan?
Until the car is paid for, the company that made the loan still has a financial interest in that car for the amount that is still owed. If that amount is not paid, the holder of the loan has the right to repossess and sell the car. If that does not generate sufficent funds to pay the loan balance, they may make a claim against the estate of the debtor.
Can a dealer collect on repo unpaid balance?
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
