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it depends on how long the repo and you interest rate will be real high

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โˆ™ 2006-04-25 21:48:38
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Q: What are the chances of getting a new car loan after a repossession?
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Can you get a personal loan after a car repossession?

You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


Can they repossession your car from a title loan?

Yes. They can! The car is their equity basically!


Will a car loan affect chances of getting a school loan?

In the US, no it won't. Your credit and job history do not play a part in student loan eligibility.


Can you got to jail for keeping a car from a title loan repossession?

yes you can


Can you get a car loan with a co-signer if you have a repo on your credit?

You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.


What if you are getting your car repoed but you dont have the car?

Then tell the Repossession agents where it is and who has it.


Can you buy another car while your other car is in repossession?

Yes. But you might have a difficult time getting a loan for it. If you just go pony up for a "beater" to get around in, you shouldn't have a problem.


Does applying for a car loan affect your chances to get a home loan?

It does if you get turned down.


How do you get out of a car loan that you don't want anymore?

Pay it off, voluntary repossession, sell the car and pay it off.


Can you be sued for a car that has been repoed?

If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees.


Can you be taken to jail for a car loan being overdue?

No. A car loan is a civil as opposed to a criminal matter. Being behind on a debt is not a criminal matter, therefore you cannot be arrested for it. Never the less, if you are behind on a car loan and if the loan is secured by a lien on the car, you may be arrested if you interfere with the loan company's attempts to repossess the car, provided that state you are in has laws that make it a crime to interfere with a repossession. But even in this instance, you are not subject to arrest for being behind on the loan, you are subject to arrest for interfering with the repossession.


Do you have to payoff a car repossession?

Yes, you owe the difference of the amount of the loan and what the vehicle was sold for plus any costs of the repossession. You are expected to pay that amount.


Can you get a loan modification on your car?

Car loan modification is one such option to avoid repossession of your car. So what happens here.... the service provider(loan modifier) studies your loan history and they directly deal with the lender and they modify your car loan .... meaning they help you in Reducing payments and keep your car, boat, SUV or truck.


What is the statute of limitations in regards to car repossession in NC?

As long as a vehicle is collateral for a loan, it can be repoed.


Once the loan goes to the repossession department how long do you have before they take the car?

as soon as they can find it


In a repossession do you have to pay off the entire car right then or just keep making your loan payments monthly for the duration of the loan?

It would depend on the contract you signed when you purchased the car.


What is a title loan?

'Title Loan' is a loan you will be getting of having a car loan on your on name.


What are the consequences of not making car payments?

If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.


What happens when you default on a car loan?

When a consumer defaults on a car loan their credit becomes negatively affected. Not only that, the previously purchased vehicle will become subject to repossession if the payment is not received.


If your car loan statement says the bank closed the account in 1999 can you have this repossession removed from your credit report?

Chances are good the bank sold the account to a collection agancy. Contact a local attorney for state specific info.


Do still own the car after a repossession?

Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again


If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?

Yes. If you default on your car loan you will remain liable for the debt.


What are your chances of getting a new car after a repossession 6 years ago?

Creditors look as far back as your CR goes. However, with enough DP and maybe higher interest rates, you can get a new car. You just have to shop around.


Can your car be repossessed for late payments?

Yes, this is the common reason for repossession. It is in fact the primary reason for the existence of repossession agencies and repossession forwarding companies. It is also the reason the vehicle was used to secure the loan in the first place.