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2009-06-06 02:26:10
2009-06-06 02:26:10

Yes, you still have to pay. You signed a agreement stating that you would pay for the car. So the balance that you pay is the cost of the repossession and the cost of the vehicle after it is sold.

No! Then company will try to scare you but you don't have to pay it because its still going to be on your credit report.

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Related Questions



MOST vehicles have a lien- if you took out a loan to buy the vehicle, the company that holds the loan is a lien holder. It means that you cannot SELL the vehicle or dispose of it without their knowledge, and their financial interest being satisfied (loan repaid)- but the owner of the vehicle can still register it, drive it, etc.


did you mean resource? The lender has authorization called lean to hold your property after a loan debt.


No, that would not be possible. There is a loan on the vehicle and the lien holder must be satisfied first. It is not likely that they will allow the transfer without a new loan being created.


Yes and No... Once the vehicle is repossed you are afforded an opportunity to pay what you owe and retrieve your car... If you dont meet the requirements to satisfy the lien holder, the vehicle will go to auction. After the auction whatever is owed on the remaining balance is is the responsibility of the loan holder & or co-signer.


Until the lease is satisfied or the vehicle surrendered, you can't. You guarantee the loan if the primary cannot pay for it.


When a vehicle is repossessed, it is usually put up for auction. If the monies recovered from the auction is not enough to cover the outstanding balance on the loan, the person the vehicle was repossessed from is expected to pay the difference. It's a bummer, but that's how it goes.


IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.


Yes a vehicle can be repossessed if the loan is not being paid on.



For a better chance at getting the vehicle loan, increase your credit after the vehicle loan. Increasing your credit before may reduce the your vehicle loan amount.


If the car is paid off, you can probably get the title at the Department of Motor Vehicles. If the car is not paid off, the bank that holds your loan holds the title until the loan is satisfied.


A vehicle loan calculator helps you to work out your monthly repayments. You choose the vehicle value or loan amount and the length period of the loan. Then the calculator will work out your monthly payments.


Talk to a lawyer-why was the title in the glove box? Maybe they took the wrong car. If you can prove it was paid off (do you have a lien release?) call the cops. If you used the car as security on another loan, forget-about-it, it's gone.


If the vehicle is/was encumbered by the original loan then it should be insured. If there is no insurance or the insurance does not cover theft the purchaser is still responsible for the full amount of the loan. The issue of the vehicle being stolen does not affect the legal responsibility of the buyer to honor the loan contract.


You can trade your car in, however the loan balance must still be satisfied.


Sure, but you might have trouble getting the loan to buy it due to the fact that your other car got repossessed by the bank that gave you another loan.


Can u get a title loan without a vehicle inspection


will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle


Yes. As the comaker on a loan, you are equally responsible for its payment. In the event the other party defaults, you either pay the loan yourself, convicne the other party to, or if able file bankruptcy.


Registration of the vehicle has nothing to do with the loan or financing of the vehicle. The only was to "default" is to not make the payments.


the car will most likely be repossed and a court order issued against you for what is owing plus costs


vehicle a/c debit bank loan a/c credit


The best place to get a loan for a vehicle is a bank or similar financial institution.


The requirements for taking out a title auto loan are, being the age of 18 or older, the auto vehicle must not have financial dues, and must provide valid proof of vehicle ownership.



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