If you're asking whether the vehicle can be repossessed for non-payment, it can, regardless of who's supposed to be making payments. Whoever appears on the contract or paperwork for the car is responsible for the payment, regardless of what informal agreements may be in place.
No
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer.
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
Technically yes - the vehicle can be repossessed if you are 'in default' of your obligations under the contract. So while the usual way to default on the contract is by missing payments, it is possible for you to be in default by another way, outlined in the contract you agreed to.
I dont see why not. The dealership gets their money from the company that financed the car. You arent paying tge dealership, you pay the financial institution. Problem is, if you're behind on payments, that will not help you to get another vehicle.
Depends on how purchased. if you used a card you owe another company but tv is paid for. If financed from place you bought it, that is security for the loan and they have a lein.
NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully paid off and owned for security.
no!
It will hurt your credit but also will show you made catch up payments and are current. So if you were to buy another car in the future and they ask about it they will still lend you money for the car but you may have to put more money for a down payment.
Refill, renew,
Yes, a car can be repossessed even if another car is in front of it. The person in charge of repossession the vehicle can call the police to help them get the car.