If financing a car can you sell it?
Yes. You are responsible to pay off the loan you have on the car so make sure you sell it for at least that much. You can request a payoff amount from your lender.
How long does a dealer of a used car have to find you financing you have had a car for over 45 days and the dealer keeps saying they are searching for financing?
Lets say your financing a brand new car. You owe $25,000 on it and when it gets reposessed you still owe $18,000. The reposession company will sell the car and that gets subtracted from what you owe. Lets say they sell it for $7,500. So they would subtract $7,500 from $18,000 which means when all is said and done, you still owe $11,500 on the car.
You just sell it, hopefully for more than you owe. Who ever is handlleing the loan releases the car after it is paid off. If you can't sell it for the entire amount owed it may make sense to pay the difference in order to be out from under the loan. May have to pay this months payment so you don't have to next month.
Yes, of course. Read your contract. A BHPH lot offers alternative financing to people who can't get financing otherwise. The terms are the same as any standard financing agreement. Bringing a car back, whether voluntarily or involuntraily is still a REPO. So, the dealer has the option to sell your repo at whatever price he accepts and sue you for the balance. This isn't Wal-Mart!
No, but you must first secure the permission of the agency that holds the official title for that vehicle. They are the ones that "own" it ... you do not own the car until your debt has been settled with the lending agency, therefore, it is not "yours" to sell. What usually happens is that the prospective buyer will have to secure their own financing in order to purchase the car from the title holder…
They usually don't change their mind. What happens is a dealer sales you a car and lets you drive off thinking the purchase is complete when in fact they do not have the financing secured. This happens mainly on weekends and after normal business hour purchases. If they are unable to secure the financing they will want the car back or you to get financing of your own.
How much can you reasonably expect to get off the price of a used car if you pay up front in full with cash?
What are your options if you bought a used car in new car dealership got their financing and had an accident within 3 days of buying the car and no insurance?
I recommend you not do this! This cost a lot in extra interest on your financing! In North America this is possible as long as only the financing is upside down. If the car is or has been upside down it is very difficult. The problem is you take on the finance rate. Go to a dealer, tell the truth about what you owe. They will organize up financing that pays off your old car…