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Making Payments After Returning a CarNo, you do not have to make payments HOWEVER.....once they sell the car you still owe the left over balance. Just because you don't have the car anymore DOSEN'T mean you didn't borrow the money


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.

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โˆ™ 2015-07-15 18:20:42
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Q: Do you still have to make payments after returning a car?
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Related questions

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 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.

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.

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.

Does a co-signer have the right to take the car if you are behind on payments?

When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.

If the primary buyer refuses to make car payments and drops the car off to the cosigner What is the cosigners responsibility?

To make the car payments. Just be glad you have the car too.

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.

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.

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!

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 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.

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.

What happen if you can not pay your car loan?

When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.

How do you get my car back after repossession in Louisiana?

Make your car payments.

What are reasons for a car to get repossessed?

If you don't make your car payments.

How do you stop repossetion of your car?

Make your car payments ON TIME!

Your mom is a co-signor on your car loan and is filing bankruptcy you have always made the payments and still owe money on the car What happens to the car Do you still make payments What happens?

(Depending on where you live) You can: 1. She can elect not to include the car, and retain property of it. 2. If you are 1/2 way finished of payments you can contact the lending agency and request sole responsibility of the lien 3.Return the car to the title company If you keep the car, you will still be held liable for the payments. If you no longer want the car or to make payments, you will need to release it back to the title company. Another thought too....your credit is tied up in this deal. Her credit will be affected by the bankruptcy but if you keep the car and keep the payments up you'll get the credit and benefit by doing the right thing by paying it off. You'll be much better off doing that. If you turn the car in I think it will hurt your credit. You still have to pay if you keep the car.

After the car is auctioned can you make payments for the remaining balance?

ONLY if the lender agrees to doing so. After all, you agreeded to make make payments on the car once before.

Is it a crime in Kentucky to pull the motor out of a financed car?

no its not!! it is technically your car so you can pull it out but you still have to make the monthly payments! you can't pull the engine out of a leased car though!!

What would happen if a person owened a car and die but they still making payments?

The executor must make the payments from any assets of the deceased Estate until the Estate is settled.

If you still owe a considerable amount on your car that isn't running should you continue to make the payments and insurance or voluntarily surrender it or sell it and take out a loan for the balance?

Sell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.

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