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If you have a car that has never run properly do you continue to make payments or let the lender take the vehicle?
Wiki User
∙ 8y ago
Thats a personal decision for YOU to make. You likely will have to pay for any defiencey balance if you give it up.
Wiki User
∙ 8y ago
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How do you take over the payments of a vehicle?
You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.
Can you continue making payments on a car loan that is in the name of a deceased parent?
You should find the sales receipt. It might state on there what will happen. Regardless, payments need to be made and you should tell the loaner that she is deceased. You might want to contact a lawyer to make sure things go the way they should. * If the vehicle was not part of the inheritance the lender should have been contacted by the executor or administrator of the deceased's estate. If the vehicle was part of an inheritance then the beneficiary may contact the lender to arrange refinancing or refuse the "gift" and allow the vehicle to be recovered by the lender. In either case, a family member cannot simply keep the vehicle and continue to make payments without notifying the lender.
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Can you sell a car for parts that still has lien on the title and continue to make payments yourself?
The answer is NO, unless the lender approves of the sale. Contact the lender.
When arranging payments on a vehicle that you surrendered who sets the amount on what you pay monthly?
The same one who set the payments when you got the loan, the LENDER.
When can a car be repossessed in Texas?
In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.
Is there any way you could get your payments lowered on your vehicle?
YES, Contact your lender and work something out.
Can a lender repo a car if the borrower dies?
Yes, if those who control the dead borrower's estate do not continue to make the payments. The lender has a lien on the car, no matter who owns it.
Can a car dealership repo your car if you already have a lender for the vehicle?
The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.
Can you keep a vehicle after filing chapter 7 if they have not repossessed it?
You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.
What are the terms when you reaffirm a vehicle?
Unless the lender requests that you sign new documents, the original terms apply. You need to talk to the lender if you are behind and see if deferred payments can be made.
If you have a car loan included in a bankruptcy do you have to continue making payments?
If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.
