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If you cannot make the payments on a vehicle which was 38000 on purchase and is now worth 28000 what happens if you take the vehicle back to the bank?
Wiki User
∙ 15y ago
you are responsible for the whole of your loan, no matter the depreciated value of the vehicle. the amount of your loan does not change.
That's it, you owe 38000
Wiki User
∙ 15y ago
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Technically, no you cannot. The loan was to the deceased, not to you. You also have to change the title of the vehicle.
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Does Tennessee have buyers remorse law?
Yes, but the Buyers Remorse Law does not apply to the purchase of any vehicle. Once you purchase any vehicle you own it and you cannot return that vehicle unless the selling dealer has such a deal.
What can be done to you in Florida if you are the cosigner on a vehicle that is up for repossession but your husband is in possession of the vehicle and they cannot find it?
They will come to you for the money if they can't find him. It will be on your credit as a repo as well. As a co-signer, you sign that you will take over payments if the signer fails to make the payments.
