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usually a lender will collect on a loan within there own departments (collections) once the account agings older then it gets transferred to a collection agency who will try to collect on the loan aggressively so its best to talk to them directly and make some type of repayment plan.
What else can I help you with?
If you have a cosigner for an auto loan do both names have to be on the car's title?
The lender will probably insist that all names on the title also be on the loan, but not the other way around.
Can you pay off your auto loan to the lender?
Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.
What is the collateral for an auto loan and how does it work?
The collateral for an auto loan is the vehicle itself. When you take out an auto loan, the lender uses the vehicle as security in case you are unable to repay the loan. If you default on the loan, the lender can repossess the vehicle to recoup their losses.
Does anyone offer a car equity loan online?
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If I have an auto loan can I get a second auto loan for another car?
Depends on your credit history That would be up to the lender.
Is it common to take out a 60 month car loan?
Yes it is common. The concept behind a 60 month auto loan is a very simple one: a person has sixty months or five years to pay off the auto loan. This means that a borrower has to make 60 payments before they get title to the car. Under a normal loan arrangement, the lender keeps the title to the car. This enables the lender to repossess or take back the car if the payments are not made.
Can a lender on an auto loan require a co-borrower or guarantor to go on the title?
The lender can require just about anything, but it is more likely that they will want every name on the title to be on the loan, not the other way around. If anyone should insist the cosigner's name be on the title, it would be the cosigner himself. That will give him a right to take possession of the vehicle if he is stuck with the payments.
Can you take out a loan if you own the car and have the free and clear title and want to use the car as your collatoral?
You can you take out a loan if you own the car and have the free and clear title by going to a high-risk lender. This type of loan is called a title loan, and the lender will put his name on the title to your car until the money is repaid.
When lender holds loan is title still considered clear?
No.
Why is my auto loan not showing on my credit report?
Your auto loan may not be showing on your credit report because the lender has not reported it to the credit bureaus yet. It's important to contact the lender to ensure they are reporting your loan information accurately.
If a car is purchased from dealer and dealer doesn't forward title to lenderCan lender accelerate the loan if no title is sent to them by the dealer?
You probably signed something saying that you would get the title to the lender so I believe that they can accelerate the loan. It shouldn't be hard for you to get a duplicate title if the title is lost.
Is an auto loan secured or unsecured?
An auto loan is typically a secured loan, meaning the car itself serves as collateral to protect the lender in case the borrower fails to repay the loan.
