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What else can I help you with?
If you have a lease through GMAC and the car gets repossessed do you owe for the remaining payments or do you owe for the ACV of the car?
they sell the auto at an auction sell it to the highest bidder and you the remainder
What if you stop paying for your car lease?
They Will reposes it and sell it them make you pay the difference any way.
If you sell your car should you continue paying insurance until you get another car?
no
Can you sell your car if it is being repossessed?
Depends on the specific laws of where you live. In general, if the car you bought is being repossessed because you cannot pay for it any more, consider selling it to someone who can. You basically sell the car at a really low price, practically just below the amount the you already spent on it. The person who bought the car from you, then would have to continue paying for the remaining balance to the dealer from where you bought the car. This way, you're credit won't go bad.
Can you Sell a house under a lease?
The owner can sell a house under a lease, but the buyer must either honor the terms of the lease or make an offer to get the tenant to break the lease.
What do banks do with repossessed motorcycles?
Sell them for very cheap prices.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Can you sell your car after the car has been repossessed?
No. A car is repossessed because you failed to finish paying for it. Since you never fully paid for it, it's not yours. No. You do not own the car once it has been repossessed. To sell the car you would need the title, which is in the hands of the finance company. After a repossession, usually 30 days later the finance company places the car in an auto auction. There it is sold to the highest bidder. In the rare case that the net proceeds from the sale exceed what you owe for the car (plus interest, penalties, repo fee, etc.) the finance company has to send you a check. If you can redeem the car by paying the full past due amount plus interest before they place it in the auction sale, then you can sell the car.
If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
Is it better to lease or buy equipment?
It would depend on your needs and your potential focus on the business. Do you think you will continue to use these products repeatedly. If you no longer need them, can you sell them and make some of your money back.
Can you sell your leased car before the end of the lease term?
Yes, you can sell your leased car before the end of the lease term, but you will need to pay off the remaining lease balance in full before transferring ownership to the buyer.
If your car has been repossessed and you cannot pay what you owe should you let them sell it?
You have no choice.
