usually the lender does it every 3 to 6 months.
Dealer Financing vs. Credit Union Financing Use this calculator to help you compare financing between your credit union and low interest dealer financing. A dealer rebate, usually not available when you choose low interest dealer financing, combined credit union financing, can produce a lower initial loan balance, and in many cases, a lower monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
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.
Yes i will release the car back to the dealer even if i did made a first payment. Sandile
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
Yes....yes....yes..... The dealer will list it on your credit as "surrendered" or "voluntary repossession" and will go after you for a "cancellation" fee. If you don't pay that, they can post them on your credit report as well. Some dealers have a satisfaction clause, but it's normally 3-5 days. Beyond that, they are not obligated to cancel the contract, and can sue you for the remainder of the note. Some also try to re-sell your car at a reduced price, and sue you for the ballance of that as well. Either way, the result of them repossessing it for non payment or volutary repo, it will be put into your credit file.
Only if the dealer reports it to the credit bureaus.
I believe you can get your down-payment back if you do not have the car. But, if the dealer is doing that to sell the car after you have made a downpayment (depending on what the contract/receipt states) then you mave have legal options against the dealer. Some lawyers have free consults. I would contact a lawyer for free consultation before getting my down-payment back because the dealer may have breached a prior agreement/contract, whether verbally or written. State laws may differ.
How long a dealer will hold a car with a down payment depends on the dealer. It is a good idea to get a time frame in writing. Some dealers will sell a car within a couple of days if you do not complete the transaction.
Not unless there is some very special language in your purchase contract.
It means that the dealer might accept your car as a part of payment but of course the dealer and you have to agree on a price for your car.
the dealera banka credit union
Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.
No, in this case it is a push and all bets are returned.
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You petition the credit agencies to remove the "ding" from your history by showing them the paper indicating ownership of the old vehicle was made on such and such date. You have to prove that the car was indeed sold and accepted by the new owner (dealer) before the next regular car payment would have been normally paid by you.
Before searching for the cheapest car loans, one should maintain good credit history. Then shop for car loans from a credit union or dealer and check for loan rates.
you need to find a dealer and a lender that's willing to take a chance on you try a dealer that does a lot of sub-prime credit deals. It may help if you had a auto loan before and that your 13 has nothing to do with an auto lender.
A dealer can do whatever they want, they are not legally obliagted to sell you any car.
Sure if the dealer will accept it.
The car should have never left the lot until the upgrades were completed. But yes, in this case, the car should be returned, and you should get all your money back.
A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they get to keep the money.