To apply for a loan on a paid-off vehicle, first if the "true" value is more than or the same as what you want to borrow, go to your local bank or credit union (The rules at a credit union are not as strict as a bank). They will look up the loan value on it. Based on your credit history and the loan value amount, the loan value is what they will lend you, and the car will be used as collatrel to secure the loan in case you default.
Most credit unions use the NADA book value of a car. Have yourself armed with the book value when you go to the bank, so you can show them what you know also.
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.
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.
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
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.
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I used an old website that offered a few vehicle loan calculators. If your looking to purchase a new vehicle, its best to use the vehicle loan calculator online that way you will have a good estimate.
Any vehicle that is going to be used for commercial purposes would qualify for a commercial vehicle loan. You will also have to have commercial insurance on the vehicle.
If you have defaulted on your loan and not returned the vehicle, then you have basically committed a theft.
how can i put a lien on a motor vehicle for a loan that was put out and no payment made yet on the personal loan
Call the bank that issued the loan.
They can only repossess the vehicle which was on the loan agreement. Taking any other vehicle is theft.
Not without a release from the loan company.
Yes, you can take out a loan for a vehicle for someone else and make the payments on it, but the only way you can put the vehicle in their name is if you have their permission.
Yes! if there is a security interest on the loan (the vehicle). when you buy or lease a vehicle, you sign your right away to the vehicle in the event that you default on the loan..it does not matter what kind of vehicle it is.
Yes in Virginia, but your finance co. will still require you to insure vehicle or they will add it on to your existing loan.
A vehicle loan calculator will typically generate your monthly payment. To get this figure, you will need the total cost of the car, the amount of cash you are putting down, the rate for your loan and the duration of your loan.
Then they will repossess the wrecked vehicle, sell it for what they can get, apply that to the loan balance, and you will be responsible for the balance on the loan. They will sue you in court to get it and will win. Now if you continue to make the loan payments, then none of this will happen. Did you not have insurance on this vehicle?
If the secondary borrower is not paying the loan, you must take the vehicle back from the secondary borrower before the bank takes back the vehicle and ruins your credit. You will learn from that not to cosign a loan.
The Capitol One rates for auto loans vary by how many months you loan the vehicle for, or whether or not it is a new or used vehicle. However, for 36 mos, the loan rate for a new vehicle can be as low as 2.99%.
by bank loan
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.
If you have defaulted on the loan, you must sell the vehicle, pay off the loan you have, receive a lien release on title from the loan company and sign it ovet to the buyer. This is bad situation as most people will not pay for a vehicle with out receiving the title at the time of purchase.
Since you have a loan you should be required by the lender to have full coverage insurance which will pay you the value of the vehicle. With out insurance you are still responsible for repaying the loan no matter what happens to your vehicle. It is not the lenders fault your car was stolen and wrecked...
If your vehicle is the collateral for the loan, then yes.