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Yes it is common. The concept behind a 60 month auto loan is a very simple one: a person has sixty months or five years to pay off the auto loan. This means that a borrower has to make 60 payments before they get title to the car. Under a normal loan arrangement, the lender keeps the title to the car. This enables the lender to repossess or take back the car if the payments are not made.
What else can I help you with?
How can you take over car payments without transferring the car loan to your name?
Write a check to the finance company every month
What is the most common car loan length?
The most common car loan length is typically 60 months, or 5 years.
What are the benefits of car loan calculators?
The benefits of a car loan calculator are that they help you have a clear view of the cost per month and the down payment required to purchase a car.
Can they take money from my check for a car i don't have?
If you owe money on a car loan or are a cosigner for a car loan, yes.
Can you take a loan against your car?
Can you take a loan against your car if it isn't 100% paid for? I have one more year on Lexus.
Will a car amortization calculator tell me how much a car loan will cost per month?
You can find a a car amortization calculator at www.bankrate.com/calculators/auto/auto-loan-calculator.aspx.
Are car loans worth it to have a vehicle?
Taking a loan out on a car is only worth it if you are able to get a loan that does not have a high interest rate and that you are able to pay off easily. If having a car is something you desperately need and will help you in say getting to work, then yes you should take out a loan for it. However, if you are able to make a deal with a car company to make payments on the car every month, you should do that.
What is the meaning of auto loan calculator.?
An auto loan calculator shows how much you're REALLY paying for a car after the loan term and interest rate are factored in. It can also calculate how long it will take to pay off your loan based on how much you are paying each month.
Can a co-signer call call the loan company to reposed your car?
yes they can call and take such action with the loan company that the loan company can then decide to take your car or call in the loan for full payment
What is the most common car loan term used by borrowers?
The most common car loan term used by borrowers is typically 60 months, or 5 years.
Sherri has a gross monthly salary of 4700 She has a 425 car loan payment and a 330 student loan payment due each month She also has two credit card loan payments each month one of 127 and the?
Sherri has a gross monthly salary of 4700 She has a 425 car loan payment and a 330 student loan payment due each month She also has two credit card loan payments each month one of 127 and the other is 527.
What happens if your car loan is illegal?
then they take your car and repo it.
