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When you took out the loan for the car the banking institution worked out how many months and for what amount the payment would be each month. If you have lost a job or are between jobs, were ill, were in an accident, then if you are honest you can talk to the bank manager and they will usually be quite willing to adjust your loan payments. The smaller the loan payment the longer it will take you to pay it off because of the interest applied on the outstanding loan. So, you could spend an extra couple of years paying this off. Banks don't want the vehicle, they want their money. Good luck Marcy
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∙ 18y ago
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Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
If you moved to another country but still have a car loan can you refinance that loan in someone else's name?
The "someone else" needs to apply for a loan to pay off your car loan. With your loan paid off, you can sign the title over showing it free & clear. Don't sign off on the title until you know the loan is paid--or you could find that you no longer own the car but still have a loan to pay.
Car was charged off and repoed will you still have to pay the loan?
Yes.
Should you use your home equity loan to pay off your car loan?
I would need more details but in general, the answer is no. If you don't pay your car loan, you lose the car. If you get a home equity loan and can't repay it, you lose the house - big difference.
What happens to the loan when the car is stolen?
The insurance should pay the loan (if your lucky it'll pay all of it) If there was no insurance then you still have to pay for the loan. I had a car stolen and I had to keep paying for it until the insurance finally paid it off and I was left with $50 in the end to get a new car with.
Can you sell your car if you are making payments?
Yes as long as you pay off your loan.
How long does it take to pay off a car loan at average interest rate?
The time it takes to pay off a car loan with an average interest rate depends on many factors such as the type, cost, and mileage of the car. The average to pay off a car loan for a new car is generally about 5 years, give or take the model of the vehicle.
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
How do you get out of a car loan that you don't want anymore?
Pay it off, voluntary repossession, sell the car and pay it off.
When your car is repoed and you pay the loan off how long do they have to give the car back?
they usually do not give it back. once they take it, it is theirs.
Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
Do you have to pay off the car loan if you have totaled the car?
Yes, if your insurance company will not pay it all.
Can you trade in a loan car?
Yes. You must pay off the loan with the proceeds, and pay the difference if the proceeds are less than the loan.
What happens if you don't pay off your car title loan?
they take your car
How can I take my name off a straw purchase on a car loan?
If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.
Do you have to pay off the car loan if you total the car?
Yes. Hopefully the car is insured, and the insurance money recieved will cover the loan of the car.
How do you get out of a car loan?
You must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan. If your higher monthly payments are making things difficult for you, you can refinance your car.
