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Can you trade in a car that is listed on your credit as charge off?
Wiki User
∙ 14y ago
yes u can my mom has before
Wiki User
∙ 14y ago
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What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
Do you get tax credit on a trade for a used car?
is there a tax credit when trading in your used car when purchasing a new one
Can you trade in a car and you are not on the loan?
In order to trade in a car you must be the only owner listed on the certificate of title. If a creditor is listed on the title that creditor must be paid off from the proceeds from selling the car or from the new loan.
When is the best time to trade in your car?
hand it in when the credit crunch isn't around
Can a 19 yr old buy a used car without a co-signer or credit?
Without any credit? Probably not at a reputable dealership without a co-signer. Probably yes at a shady used-car lot, but they will charge you outrageous interest and will vastly overprice the car you are buying and underprice your trade-in. If you are buying your used car with cash, yes. If you're going to need an auto-loan it will be very difficult or impossible with no credit. You can certainly sign up for a credit card with no credit and use it to build your credit. That process may take some time. If a co-signer is available for you to use you'll have a better chance than with no credit. Without either it will be nearly impossible.
What does a charge off mean on my repo'd car?
Your creditor added a negative entry (a charge-off) to your credit report and will continue to attempt to collect on the debt.
How do you finance a car with bad credit?
Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.
25 used car loan what should you do?
trade it in once you establish some credit. your pretty dumb to buy a car with 25% interest
Can you trade a car that is only in your name in on a new car that your boyfriend will be financing for you in his own name?
Yes you can. However, if the car is really for you, the lender probably won't do it. This is what is known as a "straw deal". One person with good credit buys a car for someone who doesn't have good credit. But if you just want to help him by letting him trade in your car, no problem. Find out what car dealers don't want you to know at www.dealertricks.com
Is it possible for a person to lease a car with bad credit?
While it is possible for a person to lease a car with bad credit, one must be aware of the trade offs. In general, one can expect higher interest rates, but improving credit scores can fix this.
Where can you rent a car using a credit card and no cash deposit?
In the United States, most rental car places do not require a cash deposit - unless your history with them is dismal. Rental car companies prefer having a credit card number on file - this allows them to add additional charges to your bill if you don't adhere to the contract you signed. For instance, if the car comes back dinged or dented, the rental car company can charge the repair cost to your credit card number. If you refuse to pay, that's between you and the credit card company - the rental car company will be paid by the credit card company unless you protest the charge as fradulent.
What legal action can be taken if you trade your car to a used car lot and you have a loan on the title?
Be sure to include one-time charges like taxes, title and license fees, and the destination charge, An application should request authorization to obtain a credit report and to confirm any information you submit.
