The bureau that is used most often by lenders is Equifax, especially if you are in the market to purchase a vehicle.
It means not disclosing, or hiding, your interest (ownership or right to) a vehicle.
If you bought a new vehicle today and then got in an accident tomorrow (you wrote the car off) the insurance company considers the vehicle used the therefore only pays the used vehicle value, on a high end vehicle this would cost you more than $10,000. "Gap" protection is cheap, buy it from your own insurance company to protect your interests not the manufacturers or lenders interest.
A vehicle is totaled if it cost too much to repair it. Usually, insurance companies determine whether or not a vehicle is totaled.
If the repairs of the vehicle exceed the value of the vehicle, then the vehicle is declared total loss.
If someone wishes to determine the warranty on their vehicle they can do so by finding the VIN or vehicle identification number. This number belongs to the car only.
Single Interest Insurance is insurance that the lienholder, finance company, or lender will purchase to protect the lenders interest when the buyer/borrower fails to meet the obligation of the finance contract requiring the buyer to maintain insurance on the property being purchased until the note is paid. Single Interest Insurance cover the Lender, Not the Borrower If the CU had to purchase insurance on your vehicle, then this means that you were in default on your finance note by failing to provide the insurance coverage you agreed to when you financed the vehicle. You gave them no choice but to protect their interest in the vehicle. Single interest is going to cover only them. The CU is Insured, You are Not Insured. They are covered, You are Not. This means you have no claim and you have nothing to fight because you are not an insured. If you were at fault in the accident mentioned, then you also have no coverage on the lenders Single interest Policy to cover any damage you caused in the accident. The CU does have a claim because they purchased insurance to cover their interest in the vehicle. Single interest insurance covers them, Not you. Remember, you were supposed to be insured and you were not. of course you can 'fight' anything.....please give me more info...such as year/make/model/mileage......cost of repair, (amount they are giving the cu)....what they say the actual cash value of your vehicle is etc........
There are a number of things that one needs to know in order to determine the Kelley Blue Book value of a vehicle. One needs to know the make of vehicle, model, year, and approximate mileage in order to determine the price range of a vehicle.
Bond?? whatever the NY authorities require to get a BL. Bond to get business?? Varies by lender. MAJOR nationwide lenders usually want $1,000,000 wrongful repossession insurance.Smaller lenders may not require a bond. Certification??? NOT required but it is VERY useful. At $350.00 for a cert course, it is money weel spent.
Have vehicle scanned to determine the problem Have vehicle scanned to determine the problem
"The buyer at the car lot showed interest in his chosen vehicle."
you will need to get a request for motor vehicle information
Your obligation to repay the loan is based on the promissory note you signed, and has nothing to do with a lien on the vehicle. Without a lien on the vehicle, the lender will be unable to repossess the vehicle, but they can still collect on the debt. They can also impose substantial penalties. Without a vehicle lien as collateral, most lenders will convert your auto loan into a signature loan at an interest rate of 12% or higher.
If a loan is one day late they can repossess the vehicle, but most lenders would never do that
They have a vested interest in the vehicle. Their lien can prevent you from registering the vehicle.
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Forever Adding: I believe the questioner may actually mean to say - does the lien holder have to wait to sell it. Perhaps he doesn't understand that after repossession, it is then "their", that is the lenders, vehicle.
The vehicle is on display at the Henry Ford Museum in Dearborn, Michigan.
Look at the speedometer.
You cannot purchase insurance on a vehicle that you do not own. An insurance application along with a policy together make up a legally binding contract and within this contract it states that you must own the vehicle in order to insure the vehicle. In the lease you must have an insurable interest which includes a lease situation which would give you insurable interest and allow you to purchase insurance on the vehicle. If you do not own the vehicle or have an insurable interest in the vehicle then you cannot purchase insurance on the vehicle. If you and another person own a vehicle together whereby you both are listed on the title then this would also give you enough interest to by an insurance policy on the vehicle. In this case you would also need to list the other party on the policy as well in order to cover their interest also.
Have vehicle scanned to determine the problem - usually in the emission system Have vehicle scanned to determine the problem - usually in the emission system
Usually a problem in the emission control system - have vehicle scanned to determine the problem Usually a problem in the emission control system - have vehicle scanned to determine the problem Usually a problem in the emission control system - have vehicle scanned to determine the problem
With FEW exceptions, YES. that is the lenders usual option to collect.
Car appraisals can determine the true value of your vehicle but it can also vary on the condition of the car as well. These are not always an accurate representation.
Get the lenders name removed from the ownership. **actually the lenders name will not be on the ownership papers as anything other than "seller", once your loan is paid out, you have no worries, the car is yours. The bill of sale, ownership and finance papers should show you the term of your finance, monthly payment, interest rate, number of payment, etc... when the terms have been carried out, you will be the only legal owner of the vehicle