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If you are current on payments and leave a car at the dealer because you are way upside down does it hurt your credit?
Wiki User
∙ 12y ago
Usually, your CR isn't great before you take an "upside down" loan. But, YES, it hurts your CR. A repo ia a repo is a repo on any CR.
Wiki User
∙ 12y ago
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Can a buy here pay here car dealer repo vehicles because they are going out of business?
I do not believe that they can do that, as long as your payments are current.
When you go to a car-dealer ship do they run your credit as soon as you walk in?
no, they will only check your credit when you purchase a car, they want to make sure that you are able to meet their payments.
Why does an auto dealer want your car back after 5 payments because of your credit?
I'm speculating because I don't know the full details but it could be that the bank did not approve your car loan because of your credit and now they need the car back. (Call them and ask them what happened maybe you need a new car loan.
What are the disadvantages of auto financing with bad credit?
Having bad credit tells the bank and car dealer that you are a high risk. If you have late or missed payments you'll be charged higher fees and interest charges.
If you have two years left on a leased vehicle but you can no longer afford the payments can you return the car to the dealer?
You will have to pay any balance due after the car is sold and then it ruins your credit.
Where can I get a decent car with bad credit?
The website Autotrader is a good place to get a car with bad credit. The way that you do it is you can negotiate the price, lease it or as long as you have a job and put half down, the dealer may let you pay the rest in payments.
What do I do if I can't afford the payments on my motorcycle anymore?
There are many ways to pay for the motorcycle--sell it to a friend. Talk to the dealer. Whatever you do, don't just quit paying and ruin your credit.
Why does a dealer sell you a car and then tell you to return it because your credit did not go through?
That would happen only if the dealer has extremely poor business practices.
If you are current on your payments can the car dealership who sold you the car repo it or is the bank that is financing the vehicle the only one who can do that?
The bank/finance company. The dealer has already been paid for the vehicle
Will loan payments on a car start as soon as you get the loan?
It Typically begins 45 days fo the day you purchase your new or pre-owned vehicle. In some instances, depending on your dealer, & your credit stability Payments may be put off up to 90 days.
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
How do you build a credit history?
You have to establish credit. One way is to obtain a loan through a furnature store or auto dealer. You purchase an item, and even if you could pay cash, take advantage of 'no interest for three months' or other such items to make payments on the item. This will build up a credit rating. One or two credit cards, (Not dozens!) with prompt pay-offs, is always a good thing. If you are renting through a large property management firm, they may report your rent payments to the credit bureaus.
