0
#2
No you do not have to make payments after returning a car as long as you are ok with having a repossesion on your credit history and as long as your ok with the finance company filing a judgment against you for the amount left owed after the sale of the returned vehicle.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
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.
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
What if you have not made a payment for 4 months on your car and you can make future payments on the car can they still take your car?
Yes. Obviously!
Can you trade your car in for an inexpensive one?
Yes, but you will still have to make payments on the car being turned in if you don't have 'clear title'.
Can parents still insure your car when recently married?
You parents can be insured on your car and they can make payments regardless of your marital status.
If the bank repossess your car do you still have to pay your car payments?
NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.
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.
Can you repossess a car you were selling to a friend but they are refusing to make payments for it except for one when you still have the title?
I wouldn't see why not if there not living up to there end of the deal and its still in your name then its still your car.
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!
What if you got a car in your name for someone else but they cant pay the insurance What should i do?
I would sell the car. If they wreck then you still have to make the payments and then no one has the car.
Do you need full coverage insurance if your car is 5 years old?
Full coverage requirements have nothing to do with the age of the car. If you still make payments on the car then you still have to have full coverage. If you own the car outright, then you do not have to have it.
Should you return a used car that has been totaled to the lender if you still owe two payments on the loan?
Returning the car to the lender will not relieve the borrower of the legal responsibility to pay the debt. The balance of the loan and any additional fees is still owed on the vehicle and is valid and collectible.
