Cars & Vehicles
Auto Loans and Financing

How can a leinholder repo a car with only 2 installments due and was to be paid in 1 month as agreed?


Top Answer
User Avatar
Wiki User
2015-07-15 18:33:33
2015-07-15 18:33:33

how can a leinholder repo a car "with only 2 installments due?" READ your contract. Does it say you will pay as due OR when you decide to? You were in DEFAULT and when in default the lender can repo the collateral.


Related Questions

The question can be answered only for the loan with zero interest. The loan is then 10,800 (18 x 600) that could also be paid by 1350 a month for 8 months 1080 a month for 10 months 900 a month for 12 months 720 a month for 15 months In the case the loan is not interest free the problem cannot be solved, since there are two unknown variables: a principal amount (an amount borrowed) and an annual interest rate and only one equation. For instance if you borrow 10,000 with 10% annual interest rate, the loan will be paid off in 18 monthly installments of 600, which corresponds to the question. For the same principal (10,000) and annual interest rate (10%) the loan would have been paid off in: 8 month installments of 1297; 10 month installments of 1046; 12 month installments of 879; 15 month installments of 712. But you can still have the loan with other pairs of principal and interest rate with 18 monthly installments of 600. There is a suitable Excel formula PMT too. Monthly installments can be calculated by formula: Monthly installment = Principal x {rate + (rate / [(1+rate)months - 1]} where rate = (annual rate / 12), i.e. 10% => 0,1/12

Never buy a computer on installments. If you cannot afford to pay cash save your money until you can. The only 2 things you should ever buy on installments is a vehicle or a home.

ONLY if your name is on the TITLE as co-owner or leinholder can you "repo" the car.

Sux Muh Ballz!!! It only existed in the first installments of Red & Blue, & only as a glitch. Idiots.

what mathematicians agreed on an so that numercial expressions would have only one value?

Yes it is the only month with no holidays.

When you take a monetary payout in installments, especially in an annuity (yearly installments) you must pay taxes on each installment. While this wouldn't be a problem for a monthly payout, taking a lump sum payout on an annuity means you only have to pay taxes once on it. Typically a cash settlement will be less than the total of the installments. The advantage is that you have the money all at once. Of course you'll have to pay taxes on it if the settlement isn't exempt from taxes.

On the back of the title there is a place for you to put the leinholder information. Just put your information there when you pay the money to the seller. If there is a leinholder, the insurance company will require the owner to carry full coverage insurance, therefore, if the car is wrecked, the insurance will pay you, the leinholder, and not the owner listed on the title. That way you will be able to recoup any money that is owed to you. You can only keep the amount that is owed to you and pay any remaining to the registered owner of the vehicle.

No they cannot add an account if the co signer only agreed to one account.

It's the only month with no national holidays.

only 7 but theres also Beetle the Bard (this book is'nt in the harry potter series)

because that is the month that they want it to be in

you can only travel with submarines at the month of third month

Of course. The financing agreement that you signed requires you to have full coverage insurance and to make sure that they receive a copy of the insurance with their name listed as leinholder on the policy. This assures that they are paid if there is an accident and that they are notified in case of a cancellation of the insurance. There are laws protecting the leinholder in every state. If you break the contract with the leinholder they have the right to repossess the vehicle as well as the put what is called forced place insurance on the vehicle. This insurance protect the leinholder's interest only in case of an accident or damage to the vehicle. This coverage is physical damage coverage only and does not include liability or any other coverages and the premium is very high. The premium is charged to your loan account.

If you rent by the month, a month's rent unless the landlord has agreed to a lesser amount. If you rent by the week, 2 weeks' worth. If you rent by the day.....14 days' worth.

Christians do not have a fasting month, only Muslims do.

The November pet of the month is the hippo ( large webkinz only) The December pet of the month is the polar bear (large webkinz only)

There is no animal that will eat only once per month. No living animal can survive with only eating once per month.

Final Fantasy 13 is on PlayStation 3 and Xbox 360. The online installments of the series are 11 and the upcoming 14.

The only month with just 28 days is the month February. Unless it is a leap year, then February has 29 days.

only information agreed on by all historians

February is the only month that can miss a moon phase.One complete cycle of lunar phases runs 29 days and a fraction.Any month longer than that must have every phase in it.The only month shorter than that is February.

You can only get the loot bag if you adopt the pet of the month in the month that it is the pet of the month. Hope this helps.

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.