The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.
A 17 year old will not be able to get a car loan for $5,000 dollars without a co-signer. Most banks will not give a 17 year old a loan even with a co-signer.
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
No, it is not possible. Your previous loan must be completed to get a new car loan
where can I get a title loan in salt lake city Utah if my car is 20 years old but has a new engine, transmission, everything rebuilt, and I have paperwork to prove it.
Check with your bank or credit union.
You can get out of your car loan by selling the car you have. You can also return the car to the finance company.
http://www.automotive.com/auto-loans/36/loan-tips/car-loan-tips.html Website gives you all up to date required information you may need when looking to get a auto loan whether it be age or how much something is.
personal loan have a higher interest rate than car loans beacause they are unsecured loans . In car loan the loan is used for only purchase car .In a car loan, the loan is only used to buy a car, but you can use it as personal items in a personal loan. Interest rates start at just 8.50 percent for a car loan, but can rise 16 percent based on one's credit score and credit history. Find out more, please click https://www.indialoanservices.in
To get a loan for a car you have to be at least 18 years old. You will need proof that you have a job, and a little bit of a credit history. The loan officer at the bank can tell you more.
Yes. You have to make certain the dealership you're working with for the purchase of the new car is covering the entire amount owed on the old car. Also, whoever is doing your financing should give you a check made out to you and the lienholder of the old car so that loan can be paid off. If you do not do this, it is possible for the bank of the old car to come back to you and sue you for the loan balance. Keep copies of everything in a safe place. sunnyraye
To get out of a used car loan, pay off the loan or find someone else who will do that.
If you did not buy the car it depends on the creditor. Some will void out the loan, others will not. If they do not void it then you have all the money from the loan... so you can pay the loan in full immediately. I think it is not very good to get a car loan if you didn't buy he car. it is just my opinion!
Yes, once you reach the age of majority, usually 18, you can signa contract and obtain a loan.
You have two recourses (choices):Keep the car and pay the loan.Sell the car and pay the loan.If you fail to do the second half of either choice, the choice may be taken from you and you will pay the loan regardless.
Nelson, they would have a couple of real goofy options.1. they could refinance the new car and include the balance of the old loan for a HUGE total.2. they could be the SECOND leinholder on the new car somehow. I guess they would have to loan you money to pay the old balance and take the new car as collateral.Neither of these options look realistic, but who knows??
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No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
Car loan calculator Canada can calculate ones car loan payments. One has to enter his/her price, down payment, trade-in value and rate into the Canada car loan calculator and the calculator will calculate ones car loan payments.
Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
'Title Loan' is a loan you will be getting of having a car loan on your on name.
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.