Money Management

If you pay off the balance on your repossessed car to get it back do you have to pay the balance owed with interest based on the original 5 yr loan?


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Wiki User
2015-07-16 19:23:00
2015-07-16 19:23:00

Unless you get the lender to agree to an offer, you will pay the balance due for payoff(repo fees, late charges,ect. have likely devoured any reduction in interest you would have seen for early payoff)


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