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What can you do if you become ill and owe car loan payments and you can no longer pay?
Wiki User
∙ 12y ago
Depends how ill you are.
But I'm sure no matter what, they'll make you pay off the car loan.
Wiki User
∙ 12y ago
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What happens to payments made after a car is repossed?
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
What information does the car loan calculator Canada give?
Car loan calculator Canada can calculate ones car loan payments. One has to enter his/her price, down payment, trade-in value and rate into the Canada car loan calculator and the calculator will calculate ones car loan payments.
What does repossession of car mean?
When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.
In general, how are monthly car loan payments figured out?
Monthly car loan paymnts are calculated by adding the interest to the balance and diviing it into equal payments for a set time frame. You can find a car loan calcultor at www.Edmunds.com.
Can you refinance a car loan after the car has been totaled and repossessed to get lower payments?
NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully paid off and owned for security.
If you are gifted a car in a will that is not paid for how long does the estate legally have to give you to pay off lien?
If you inherit a car that is subject to an outstanding car loan you need to keep up the payments with the LENDER according to the terms of the original loan. If you default on the loan payments the loan company can repossess the car.
How do you get out of a car loan?
You must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan. If your higher monthly payments are making things difficult for you, you can refinance your car.
Can your car be taken for late payments if you become disabled?
Yes, it is not the banks fault you are disabled. You can conntact you loan company and they may be willing to work with you. But they are not required to change the terms of the loan.
What is a car loan payment calculation?
The easy-to-use auto loan calculator helps car buyers plan monthly car loan payments. Calculate car financing and car payments in advance to make a smart decision on how much you might owe each month.
Is there a good Vehicle loan calculator?
Auto finance and car loan tips to help making car buying easier. Cars.com's auto loan calculator estimates your monthly payments, down payments, interest rate.
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 is meant by car loan payment?
When an individual is purchasing a car it is usually acquired by getting a car loan. A car loan payment refers to the payments one makes to the loaning company or bank.
