The finance company financed a fully operational car, the same applies with the tires and wheels.and sometimes the radio as well.
Yes, if it isn't completely paid for.
NO, it is NOT legal.
Not if it is 100% financed or on a lease. A judgment creditor can force you to sell it for its market value, pay the lender what is due on the loan and take the rest.
Legally you can't ! The car belongs to the finance company until it's paid off !
You can, should, and are legally required to register a financed car.
no you have still have to pay for your car that's what i had to do x
If you mean how late do you have to be to get repossessed: Usually 3 months if you are financed through a bank or credit union and 1 week if you are financed through a buy-here pay-here. The banks prefer their money. They don't want to deal with reselling a car. The buy-her pay-here's get to keep your money that you already paid, then turn around and resell your car for almost what you paid. They can do this as many time as they want, as long as people get behind. Anyone who has a car loan will fall behind at least one time in their 3-to-5 year contract.
One way or another, the loan has to be paid off. If you trade the car in, you can get the payoff added to the amount financed on the new car.
Ok, this is a weird question, how can it be bought and paid for if it isnt paid for? So I will answer this question with what I think you mean..... I believe you are asking if you can sell a car that you have financed and owe money on..... I will answer this one. Yes, you can sell a car that you financed, but you have to sell it for nothing less than your "payoff amount". you will get the money from the buyer, and you will pay off the loan, the only problem is that it takes a week to 3 weeks to get the clean title in your hand. You will have to make a deal with the buyer that you will give it to him when it comes.
Turn on the ignition switch and then turn it fully clockwise until the engine starts.
In California, anyway, you need full insurance coverage on a car the whole time it is financed. After its paid off, you can drop a bunch of the coverage and just carry liability.
Yes, you just add the payoff amount of the car you are trading to the price of the car you are buying.
car is broken and needs major repairs but is still financed how do pay for the repairs
Look at the registration card. Just below the name of the title holder is "lienholder." If there is a name or company name there, then there is a lien on the car and the person will not have a pink slip. If the person has a pink slip, there is no lien on the car. There may be other reasons for a lien to be on a car, but the most common is that the car has been financed and the load has not yet been paid off.
What is the average amount financed in an auto loan
No. Just have to meet your state's minimum requirements
73% of new car purchases are financed, according to this website: http://www.newcars.com/how-to-buy-a-new-car/auto-financing.html
If you have not fully paid for the car, it is not yours. The loan papers allow you to use the car until it is paid for; without the agreement you have nothing.
You ALWAYS need insurance on a financed car, and it has to be full coverage. Doesn't matter what state you're in.
A loss payee is the person or company who will be paid if property is damaged. Typically it's the lender if a car, copier, home, etc. is financed.
If you paid cash for a car and the car dealer repossessed it, yes, you can probably sue the dealer. First contact the cops. Then, you might want to contact the dealer next. Keep records of everything.