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If you still owe on a car would you be able to trade it in for another vehicle and what would happen to the remaining balance?
Wiki User
∙ 8y ago
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.
Find out what car dealers don't want you to know at www.dealertricks.com
Wiki User
∙ 8y ago
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What will happen if your car is repossessed in NC?
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.
What can happen if car loans are not paid when there is no vehicle do to a wreck?
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?
What would happen if restitution has outstanding balance at end of probation period?
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.
What will happen if i hit another car and i dont have any car insurance?
They will sue the owner of the vehicle.
What can happen if a voluntary repossession is done and the vehicle has sold and you can't pay the balance remaining and a judgment is obtained but you still can't pay?
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.
When one vehicle is towing another by means of a chain what does the chain need have displayed on it?
We are not too smart doing this. Never tow a vehicle with a chain, as this is a accident waiting to happen.
When did The Cosmic Balance happen?
The Cosmic Balance happened in 1982.
What happen when you pop a balloon by overfilling it with air?
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.
When did Cosmic Balance II happen?
Cosmic Balance II happened in 1983.
If you have a 135K loan on an RV with 18 years left to pay it off what will happen if you stop paying if you don't care if they take back the RV and can they go after your other assets?
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.
What well happen if you do not have a balance diet?
you get fat
What might happen if you voluntarily relinquish your car to the lender and cannot afford to pay the difference in the loan balance after the vehicle is sold?
The lender would have the option of filing suit to recover monies that are still owed.
