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NO. Lenders PAY folks to think like that and create ways to stop it from happening. LOL Good try but no candy.

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โˆ™ 2015-07-16 19:19:32
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Q: If you owe 17k on a car but it is only worth 6k can you buy another car from a dealer and a different finance Co then voluntarily repo the old car?
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Related Questions

Dealership can not finance car do we have to give it back?

find out another dealer who can finance your car.

Do you call the finance company or just take the car to the dealer if you want to do a voluntary repossession and do you need to inform the finance company you're taking it back or will the dealer?

call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.

How do you become an auto dealer finance manager?

The way to become a finance manager is to start as a salesperson and then become an assistant manager and then become a finance manager.

Can a car dealer keep your deposit if I am not approved for finance?

yep, do it!

How long does a dealership have in Maryland to finance you?

As long as it takes. You also can walk away and go to another dealer if you are not satisfied with their service. You can also arrange you own financing.

Can you tell you what the car finance interest rate is for a particular car?

It can range from high to low. Depends on your dealer and bank. Check with consulting at the bank or car dealer. Each car is different so interest rates can vary.

What happens if car dealer lies to finance company?

who the hell noes that?

What is finance at a car dealer ship?

Finance means you take out a loan to pay for the vehicle, then you make regular payments to repay the loan.

Do you have to provide a drivers license to finance a car at a auto dealer ship?


How much does a finance manager at a car dealer make?

Most finance managers at a car dealers will make around $35,000 per year. The exact amount will depend upon the experience the person has and the car dealer they are working for.

Is the owner responsible for any paperwork when voluntarily returning a repossessed vehicle to a dealer?

What state are you in??? Laws VARY by state.

Can you trade in a car to finance another car with an out of state title?

I believe you would have to talk to a car dealer about that. Many times people trade cars into NJ that have been in NY but I am not sure what the individual states require. Just call a dealer and ask.

How do you have your car voluntarily repossessed?

The Correct :Most Finance Companies make this very difficult.1)Take the vehicle to the manufacturers nearest dealer for a service appointment. Leave the car there. Remember the Service Reps First and last name.2)Contact the finance company and let them know what dealership the vehicle is at.3)Notify the finance company that you would like to have your vehicle voluntarily repossessed and to pick it up directly from the dealer. Reference the Service Reps Name and write down the the customer service reps full name.4)You can ignore any further attempts to contact you by the finance company or dealership.5)Most finance companies(in California) will not seek deficiency judgement your credit however will be ruined for 3 years.The finance company has no reason to work with you if you can no longer afford to pay.You simply call the finance company and tell them that you are unable to pay for the car due to unforeseen circumstances and make arrangement for them to either pick the car up or ask where you should take the vehicle. I had voluntarily surrendered a car years ago and the Manufacturer made arrangements to pick up the car at my home.There were fees involved and they actually prorate your loan and you will be charged for a certain amount of the cars value. Even if the car is only 3 months old, it is now considered a used car and the finance company cannot sell it as if it were will have depreciated in value as much as 30%

What happens when car dealer is misleading customer and finance company?

usually called FRAUD

How used car dealer finance their car?

They making some buy and sell stuffs.

What can some one do if the dealer were he finance her car went out of business and he haven't pay off his car?

There isn't anything you would need to do. You still owe the money and will need to continue paying. A bank or something similar may buy the rest of your loan from the dealership. If that happens it will be their job to notify you.-------------------------------------------------------------------------------------------------It is not usually the dealer which actually provides the finance, it is a finance company that is separate from the car dealer.When you purchase the car and take out finance, the finance company pays the dealer in full what he is owed and you then repay the finance company.If you look at your finance documents closely, they should tell you this.You should therefore continue to pay for your car as you were doing before the dealer went out of business. However, for your own protection make sure that you get a receipt (proof) that you have made each payment. If you are notified in writing to change your payments to a new company do this if the paperwork matches what you had before.If you are in doubt at all, go and see an attorney (lawyer).

Can you return a used car for another used car?

Did it have a guarantee or was it sold "As Is"? You may have to just make another deal with the dealer in exchange for a different one.

Can you buy a handgun in another state?

No. You can however have a dealer in another state ship a handgun to a dealer in your state, then purchase the gun through the dealer in your state.

If a dealership assigns a car to a finance company and the finance company says you don't owe them can the dealer repossess?

If the finance company has been paid in full, then why would the dealership (or the finance company) want to repossess your car? If the loan hasn't been repaid and is long overdue, then the dealer and finance company will probably decide who actually repossesses the car. Either way, it's up to them, not you. Best thing to do is check the fine print in your loan agreement (which you signed when you bought the car) and see what it says about overdue payments, repossession, etc. If you've lost it, call your dealer and ask for a copy.

What is the best way to finance the purchase of a new car?

There are many ways to finance a new car. One option is to finance through the dealer as they occasionally offer no interest loans. You can also check at your local bank for a loan.

How much does an auto dealer finance manager makes?

depends wish dealer you work but if your store avg between 200 cars a month,they make 120k a year

Can you return a used car to the finance company in Canada?

Yes, you can return a used car to the finance company in Canada. However, you also can consider returning it to the dealer you bought it from as well.

Can you buy a car from a dealer and resell to another dealer?

yes you can. a vehicle can go to any car dealer. no restrictions

Car dealer forgot down payment?

The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.

What should you do if your car is paid off and dealer hasn't given the title?

Contact the dealer or finance company, whoever has the title, and ask them to send it to you. If they refuse, you may have to contact an attorney.