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You will definitely be charged at a higher interest rate, perhaps be required to pay a larger "down payment" and maybe not get what you really want.

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19y ago

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Related Questions

How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


How bad does a car repossession affect your credit report?

A Lot.


When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.


If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?

Goes on your credit as a repossession.


Where do you get car repossossion permit?

who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?


Is a joint applicant's credit affected by a car repossession?

If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.


How do you write a car repossession letter?

How do you write a car repossession letter?


How does a repo man paying off a car affect the repossession process?

When a repo man pays off a car, it typically stops the repossession process because the debt on the car is cleared. This means the car no longer needs to be repossessed since the debt has been settled.


Turning in a car prior to reposession?

Turning in a car prior to formal repossession activity is still a repossession. It differs only in the fact that it is voluntary and may not affect your credit quite as adversely. It does demonstrate a certain level of responsibility.


Is concealing a car from repossession a felony in Georgia?

is concealing a car from repossession a felony in georgia?


Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?

AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.


What are the benefits of buying a car with cash instead of on finance?

There are many benefits buying a car with cash rather than purchasing on finance. For instance, an individual who purchases with cash does not have the added interest payments, and therefore the car will cost less overall. Additionally, a person does not need to worry about missing any future payments, or acts of repossession due to a missed payment. The individual also has the added satisfaction of knowing the car is theirs.