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Can you trade in a used car for another car if you are still making payments on the first car?
Wiki User
∙ 14y ago
Yes you can, but you have to owe less on the car than the trade in given. In other words if you owe 2,000 on the car and they give you three that means the loan on car 1 gets paid off and you have a 1,000 towards the price of car 2. But if you owed 5,000 on car 1 and they gave you 3,000 you would still have a balance due on car loan 1.
Wiki User
∙ 14y ago
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Is it illegal to sell a car when your still making payments on finance?
No its perfectly legal and if you are still making payments on it, that increases values.
What can you do if your car blows up while you are still making payments and you can't afford to make those payments and buy another car?
Depends on what you mean by
If you own your car or house and are no longer making payments should you still have insurance on them?
If you own your car or house and are no longer making payments, should you still have insurance on them? Explain why or why not.
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
Am you considered a homeowner if you are still making mortgage payments?
Yes
Can you still owe money on a car that was repossessed and resold to another buyer?
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
A temporary postponement of payments or making smaller payments while interest is still accruing is called?
deferment
If your car is in the shop but you are still making payments can they repo the car?
Not as long as the payments are current and have remained so.
What can you do if you sold a car on payments privately and you still have the title and the buyer is hiding and not making payments?
First you have to find the car, then you can repo it yourself or hire a repo company to do it. Email me if you need more help. Good Luck
Can you trade in your used car that you still owe on for another used car?
Yes, but only up to the value that is not currently owed on your existing car. You are still responsible for making the payments - unless it is specifically written that the loan can be assumed by anyone.
If a car is repossessed and you agree to make some kind of payments ever month will they still list it on your credit as a repo?
Yes but it will also list that you are making payments!
How do you know if you car is going to be repossesed?
The best indicator is that you still owe on the car, and you have stopped making payments.
