Yes, you can trade a car when you still owe money on it. The key is what is the difference between what you owe and what the car is worth. Dealers refer to this is being "upside down" in your trade.
If the amount isn't too much, you should be able to roll it into your next loan. If it's a lot, you may have to come up with some cash.
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Either you'll get your payments current plus repossession fees, or your vehicle will be auctioned off, and you'll still be liable for the remaining balance after the auction.
Then they will repossess the wrecked vehicle, sell it for what they can get, apply that to the loan balance, and you will be responsible for the balance on the loan. They will sue you in court to get it and will win. Now if you continue to make the loan payments, then none of this will happen. Did you not have insurance on this vehicle?
Probation could be extended, but provided there were no issues while the offender was on probation and made efforts to pay the balance, the remaining balance would likely be referred to collections.
They will sue the owner of the vehicle.
It gets out of balance.
They can try and garnish your wages(if your working)or they will work out a payment plan with you for the remainder or a portion of the outstanding balance.One option you have is to declare bankruptcy to clear your debts.You cannot be thrown in jail if you cannot pay.
We are not too smart doing this. Never tow a vehicle with a chain, as this is a accident waiting to happen.
Then the remaining flabby rubber shreds are no longer capable of functioning in the role of a balloon, and you need to find another one.
you get fat
Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.
The lender would have the option of filing suit to recover monies that are still owed.
There will be fewer frogs maturing from the remaining population.
Diabetics urinate often because their body is not in balance. Anything can happen when your body is not in balance.
They will repo the car, sell it, you will pay the difference on what it sells for and the balance on the note.
Hypothermia - too cold
If the uninsured driver had the permission of the insured driver to operate the vehicle then NOTHING will happen to the uninsured driver. In fact, in this case he or she is not an uninsured driver at all. The insurance follows the vehicle first, the driver second.
A neutron star
nothing specific, they are free to live out their remaining years.
If you have a stolen template on your vehicle then the car is not legal to be on the road. Call the motor vehicle office to have the problem resolved.
Same thing happen to me. You have to retun the vehicle or find a loan from another company.
No. And not a good idea even if it was. Yes, you can. If you are buying from a dealership (new or pre-owned) and they have taken the vehicle in as a trade-in then don't pay it off and you purchase it....someone is not going to be happy. Or, if you purchase from an individual who still owes a balance to the lienholder and never pays balance owed, again,.... someone is not going to be happy. As a previous employer of a pre-owned dealership, this does happen...BE SURE, you have the vehicle transferred to you with the seller's name and signature legible. Do a title search!! Why would anyone purchase a vehicle or take over notes and not have the vehicle registered in his or her name? DEFINETLY, not a smart thing to do.
As of August 2014, there is not another Civil war about to happen in the US.