I would think that if the loan matches the value of the car, then you might be close to even. However, if you owe more than the car would sell for, then you may have a problem. All you can do is read your sales agreement and then discuss it with the management.
Return it to the dealer.
You will have to prove to the dealer that you are waiting to get the money. Show the dealer your loan approval documents.
Yes.
A pre approved car loan is a loan where the car dealer or banks have already run your credit. They have determined how much money they will lend you and what you can afford to buy.
Adam goes to a car dealer and gets a loan to buy a new car. ( STUDY ISLAND)
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
Return it to the dealer.
yes you can trade it in. But if you owe more than what the dealer is going to give you for the car the remaining balance will be added to your new loan
IF the dealer is acting as the banks agent(hired to repo), YES.IF you bought the car from that dealer, the dealer may have had "recourse" on the loan, so that he/she had to do the dirty work if you didnt pay. $124.00 is not the main question, how LONG has the $124.00 been in default??
No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
Yes. When you reaffirm you agree to continue the debt and it is removed from the bankruptcy estate. Also, the debt in this case is post-peition.. as in it came about after the date of filing.
You can trade your car in, however the loan balance must still be satisfied.
Yes. If the dealer is trying to change the terms of the sale, then the sale is not final and you should be able to get out of the deal. Find out what car dealers don't want you to know at www.dealertricks.com
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
You will have to prove to the dealer that you are waiting to get the money. Show the dealer your loan approval documents.
it is if you report it to the police as stolen
In a word yes.Just because you voluntary returned the car doesn't mean anything to the lender they still want the balance of their loan.You need to find a few things out to help yourself.First find out what the dealer did with the car did he auction it or resell it?Most importantly how much did they get for your former car?The difference between your original loan amount(including all the interest)less your total payments and less what the dealer got for your former car should equal the remaining balance BUT CHECK The NUMBERS !!!!!!!!!!!!!!!!!!! IT is a good idea to conduct all correspondence with the lender/collector in writing only and read what they you send very carefully!!!!!!!!!!!!!!! GOOD LUCK