If you can get enough out of the car to pay off the loan then just sell it. If you are upside down on the loan, they that presents a real problem. You may have to just sit on the car until you pay off enough of the loan to be able to sell it an get enough to pay off the loan. You could also sell it and take out another loan that will cover the deficiency, but that may not be a good decision if you are financially strapped.
Lets say your financing a brand new car. You owe $25,000 on it and when it gets reposessed you still owe $18,000. The reposession company will sell the car and that gets subtracted from what you owe. Lets say they sell it for $7,500. So they would subtract $7,500 from $18,000 which means when all is said and done, you still owe $11,500 on the car.
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.
Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.
Yes, Because then they would be responsible for taking care and paying for the car. The slang term "upside down" refers to when you owe more than the car is worth. If you sell a car to anyone (including a dealership) for less than you owe you would be the one responsible for paying the difference. The dealership will verify with the fiance company what payment is required to release the lien. For example if you owe 10,000 on your car and the dealership will give you 9000, you would have to pay them 1000 to take the car. If you're trading in the car, then the shortage can sometimes be rolled over into the new car purchase.
How do you get 1000000 robux for free?
Is it true that one human year is equal to seven dog years?
How many 3s in 313433535333?
How do you spell water with 3 letters?
How old is Danielle cohn?
What is the worse galactocemia galactocemia type 1 2 or 3?
What pokediger1 password in roblox?
How did chickenpox get its name?
What is doomscrolling?
How did the Wiffle Ball get its name?
Do schools still teach cursive writing?
Can eggs break inside a chicken?
Why do books come out in hardback first?
What happens when a beehive gets too full?
What is the difference between an optometrist and an ophthalmologist?
Is Quentin Somerville related to Julia Sommerville?
Which of the following statements is true about storing classified documents?
What is the meter of manang biday?
Ano ang kahulugan ng iskolarling pagpapahayag?
What happened to Little Juan Burritos?
What is meant by a frequency response curve of an acceptor circuit?
What two generalization can be made about North America at the time of European discovery?