answersLogoWhite

0


Best Answer

Most loan contracts have a 'right to accelerate the balance due" clause to cover the LENDER if they don't think the signors can make the payments in a timely manner.

This is very true, however if you ever find yourself unable to make the full payment on anything, the best thing to do is contact your lendor. Most lendor's would prefer to receive some payment rather than repossess and try to resell, they WILL loose money. So if you make arrangements with them they will most likely be willing to work with you. However, I really do NOT suggest making such arrangemtns and then not paying, because the lenders will NOT be happy, they WILL repossess and you WILL owe them the whole amount before they let you have the property back.

User Avatar

Wiki User

โˆ™ 2011-09-12 21:32:32
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides
๐Ÿ““
See all Study Guides
โœ๏ธ
Create a Study Guide

Add your answer:

Earn +20 pts
Q: If the car was repossessed can the lender refuse to allow the cosigner to make the payments and insist that the full amount be paid?
Write your answer...
Submit
Related questions

Can a lender on an auto loan require a co-borrower or guarantor to go on the title?

The lender can require just about anything, but it is more likely that they will want every name on the title to be on the loan, not the other way around. If anyone should insist the cosigner's name be on the title, it would be the cosigner himself. That will give him a right to take possession of the vehicle if he is stuck with the payments.


When in the state of PA if one party cosigns for the vehicle and the cosignee divorces a daughter can the cosigner repo the car if there is suuficient proof that the ex-son in law has lost a job?

I'm sure you won't like this answer, but only the lender can repossess the collateral. If the cosigner is also a co-owner and listed on the title, he could insist on taking his turn driving the car. But essentially, the only right a cosigner has is the "right" to make the payments if the primary borrower does not.


Is a co-signer a co-owner?

No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.


If you have a cosigner for an auto loan do both names have to be on the car's title?

The lender will probably insist that all names on the title also be on the loan, but not the other way around.


How can you get a repossessed boat back?

Pay all the payments that are in arrears for starters. The lending company may insist on re-writing the loan at a higher interest rate as you are now an "at risk" borrower. Bottom line, pay what is owed on time, every time ... if you are going to be even one hour late in any payment, notify the lender - usually something can be worked out.


Can a Landlord dictate the amount of renter's insurance you get?

In many places, depending on the lease, the landlord can insist on the minimum amount of insurance the tenant has.


What is the present tense of insist?

insist


Can your ex-boyfriend who is a cosigner repossess your car?

If you have renigged on paying your portion of the car bill, yes.It doesn't matter who he is. The fact is...he cosigned for you. But, you can contact your consumer affairs bureau and see if they have a brochure on vehicle repossession. Ps Your ex bf sounds tons nicer than any of mine. He can't "repossess" because he is not the lienholder. If he is listed on the title as a co-owner, he has the same right of possession that you have and could insist on "taking his turn". But if he is only a co-signer on the loan, the only "right" he has is to make the payments if you don't. If he has had to make some of the payments for you, he could sue you for reimbursement.


What is an antonym for insist?

An antonym of "insist" is abandon.


What does the New Atheists insist that?

Insist what? New Atheists insist everything other Atheists insist. The Denial of the claim there is a God by Theistic religions.


What is the past participle of insist?

Insisted is the past participle of insist.


What is the past tense of insist?

Insisted is the past tense of insist.


Where in Western New York can you buy a repossessed car?

First off buying a repossessed car is a horrible idea. You are buying a car that someone could not even make payments on. Do you think they took care of this vehicle? Do you think it was serviced regularly, the oil/filter were changed, and anything else necessary was done. More than likely the car was neglected and just driven. Unless the car as very low mileage, these cars are usually run to death. You can wear a car out in short order if you neglect it and drive it as though you know you are going to loose it. Saying that, if you insist on buying one, contact the lenders in your area and ask about their repo cars and when/where they will be sold.


What is a sentence for insist?

They insisted their friend to go with them. It is an example of sentence using insist.


How many times can your car be repossessed?

After it's been repossessed once, it's not your car anymore, so... once? If it's repossessed and you're able to bring the loan current and redeem the car before it's sold so that you get it back, there's no limitation on the bank repossessing it again should you again fall behind. This could theoretically happen every single month of the loan, though in practice most lenders would insist that you either pay off the loan in full or give up the car on the second or at most third repossession.


What is the meaning of insisted?

of Insist


Is it is a sentence using the word insist?

yes ex:I insist you take english again


What word is the same as to insist?

Claim, assert, demand, or hold. Those words mean insist.


How do you draw a small picture for the word insist?

draw to stick figures and pretend it says i insist


Can you still keep your car even if it was repossessed I live in Chicago?

If your car was repossessed, you can't really keep it, since you no longer have it.If you act very quickly (I'm suggest calling the lienholder the instant you know the car is gone), you might be able to recover it before it's sold to someone else. At the very least you should expect to have to make any missed payments good immediately; if it wasn't a simple case of one missed payment in an otherwise spotless repayment history, the lienholder might well insist that you pay off the loan in its entirety.In other words: it's possible, it's just not terribly likely.


What is a preposition for insist?

It is on


Do vampires insist?

If you mean exist, no. They are fictional beings in many different stories. If you mean insist, then some "certain" vampires very much insist on ruining the rest vampires for the rest of us.


What is the difference between insist and persist?

I insist that you do your homework. (Insist means 'I require') while If you persist in failing to submit your homework you will be thrown out of school. (Persist means 'keep on')


What rhymes with consists?

Insist


Are insist and resist synonyms?

No.