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If you returned your car to the dealer before your payment is due does it go on your credit?
Wiki User
∙ 17y ago
Technically, a sale is not complete until money is exchanged. The law in some states is different though, and if you signed a contract PROMISING to pay, the contract defines the sale.
Wiki User
∙ 17y ago
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Does it hurt your credit if you turn a car back in to the dealer you have not missed and amnot late on your payment?
Yes.
When does a car dealer have to report your last payment to the credit reporting agencies?
usually the lender does it every 3 to 6 months.
Dealer Financing vs. Credit Union Financing?
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.
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.
Can i get my dealer's license if i got bad credit?
Yes, getting a license has nothing to do with credit. You need to make sure you have enough money before starting a business.
If the car has problems that the dealer cannot or will not resolve can you just release it back to the dealer if they haven't received a payment?
Yes i will release the car back to the dealer even if i did made a first payment. Sandile
Can it go against your credit if you don't make the first payment on a loan and give the vehicle back to the dealership before the first payment is due?
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.
You cannot afford your truck payment can you sell it 2 dealer and get cheaper car?
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
Can a used car dealer repossess a car that is not in delinquent of payment but had late payment history?
Yes
What do you do if the dealer forgets to collect down payment?
sue him
What happens if a dealership does not pay-off your trade in in a timely manner and you get a 30 day late on your credit?
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.
