IT DEPENDS ON THE BALANCE OWING ON THE CAR,THE RULES OF YOUR CONTRACT AND THE CONDITION OF THE CAR RETURNED. MOST FINANCIAL INSTITUTIONS WILL AUCTION THE VECHILE AND PLACE ANY MONIES RECEIVED FROM THE SALE TOWARDS THE BALANCE OWING. IF THER IS STILL AN AMOUNT OWING, YOU ARE STILL LIABLE TO PAY THAT AMOUNT.
you get a bad record on your credit
If you signed a loan agreement then giving the car back won't help you.You are bound by the terms of the loan.Read the agreement what happens next will be determined by what that loan says.
Why would someone give something to someone with getting paid. It sounds like the car was a gift.
You have to look at the papers that you sign with the car dealer. Typically they make you sign an agreement to bring the car back in the event that they can not get you financed. If they did not have you sign something, then they will probably hold the note themselves and then you have to pay the car dealer. But the short answer is yes, you can not keep the car if you can not pay for it.
Give your car back
It's the same on your credit, However it will save you money on repossessions fees if you voluntary Take the car back, because the Lender or finance company wont have to send out a repo. team to recover the car witch cost a lot of money and time. The repossessions will look about the same on your Credit, However it best to voluntary give it back, Because if you cant pay fo it then the right thing is to give it back to the Legal owner! It's the same on your credit, However it will save you money on repossessions fees if you voluntary Take the car back, because the Lender or finance company wont have to send out a repo. team to recover the car witch cost a lot of money and time. The repossessions will look about the same on your Credit, However it best to voluntary give it back, Because if you cant pay fo it then the right thing is to give it back to the Legal owner!
It will look MUCH better IF you can get the lender to put the"ZERO BALANCE" part IN WRITING before you give up the car.
Greg, the lien was put on the car as part of an agreement between you and the LENDER. You cannot change that agreement without the permission of the LENDER. That agreement was dependant on YOUR credit rating and can only be tranfered to someone with equal credit and the lenders acceptance. Call the lender and see if they will let someone assume the loan and remove you from it.
Get someone to take over payments, via an ad in the paper. Trade it in, or give it back to the bank, and take the hit on your credit.
If you had a written agreement that they would pay you "X" amount of $$ per specified (time period) then they are still liable to make the payments. You should not give them a refund of the money ... they defaulted on a written promise to pay ... they are out the $$ ... you get to keep the car and the money.
IF YOU GOING TO FILE BANKRUPTCY KEEP YOUR CAR AND PUT IT IN YOUR BANKRUPTCY IF YOU NEED YOUR CAR. IF YOU JUST WANT TO GIVE IT BACK JUST GIVE IT BACK ANY TIME BUT THE LOAN STILL GOING ON YOUR CREDIT FILE SO IF I WAS YOU I'LL PUT IT IN WHAT EVER CHAPTER YOUR FILEING.
Failure on a business or car lease agreement will still be attached to your name and social security number. It will lower your total credit score unless these leases were only attached to the business or someone else's number.
go to his house jump on his dads car when it honks he ll come out then youl see rowley and give the game back to him and he ll give you a credit card
I was told they give store credit
There is a company called JD Byrider. They advertise that they will give you a auto loan no matter what your credit score is, and they will help you rebuild your credit while you pay off your car.
If you have bed credit, sometimes having a cosigner is the only way you can get an auto loan. The people who lend you the money so you can purchase the car want their money back with interest. If you have bad credit, they may think you will not pay them back. They may think your cosigner does not want his credit ruined and will pay them back. So, while they would not give you an auto loan, they would give you an auto loan with a cosigner who has good credit.
Yes, They will take it back if you give them no other option. Of cours eyou will suffer the credit consequences.
No, you are obligated to pay the loan you agreed to. If you give back the car (a voluntary repo) it will seriously affect your credit.
when writing up a sales agreement, you can include a statement like, "pending finance." only if a bank then deny's you financing... then you can give the car back
If it's from a car lot - they will give you papers to sign. When you sign it becomes a contract. Buying from a regular person - you give them some money and they give you the car keys.
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
YOU HAVE TO HAVE A GOOD DOWN PAYMENT, IF YOUR CREDIT IS GOOD ENOUGH YOU DON'T HAVE TO PUT A DOWN PAYMENT,WARRENTY FOR 12 MONTHS, CASH BACK
If you have excellent credit they may not even ask for/about income.
As long as you have cash or a trade in or house bad credit will be diminished. Alternatively you could have a friend or relative help you with their credit if you can come to an agreement.