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When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
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∙ 12y ago
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What happen if default on car loan?
The loan company takes the car. You loose it unless you make up the missing payments and pay the fees.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
What would happen if you can't pay your car payments and the car is under a co-signers name also and you want to drop the loan?
The co-signor would be responsible for paying the loan. Do you hate the co-signor that much?
Should you use your home equity loan to pay off your car loan?
I would need more details but in general, the answer is no. If you don't pay your car loan, you lose the car. If you get a home equity loan and can't repay it, you lose the house - big difference.
What happens to the loan when the car is stolen?
The insurance should pay the loan (if your lucky it'll pay all of it) If there was no insurance then you still have to pay for the loan. I had a car stolen and I had to keep paying for it until the insurance finally paid it off and I was left with $50 in the end to get a new car with.
What can happen if you don't pay a title loan and you still have the car?
The vehicle can be repossessed.
What happen if default on car loan?
The loan company takes the car. You loose it unless you make up the missing payments and pay the fees.
What happen when you have a title loan and the car gets booted?
It's still your car as long as you pay for it. You are expected to pay impound to get it back.......................but they have the title
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
What is easier to pay car loan or bank loan?
bank loan
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
Can you get car loan with bad pay history from previous loan?
One man had bad credit and had to pay 27% interest on his loan. Yes, he got a car loan. He did not get a 7% loan. You can probably get a car loan. There is no telling what percent you will have to pay and how much down payment you will need to put up.
One person car loan and death?
Heirs pay loan or bank takes car.
Will the bank go after your house if you don't pay for your car loan?
no, your car loan is secured by your car, your mortgage by your home
When a person died by naturally then what happen car loan?
Until the car is paid for, the company that made the loan still has a financial interest in that car for the amount that is still owed. If that amount is not paid, the holder of the loan has the right to repossess and sell the car. If that does not generate sufficent funds to pay the loan balance, they may make a claim against the estate of the debtor.
What would happen if you can't pay your car payments and the car is under a co-signers name also and you want to drop the loan?
The co-signor would be responsible for paying the loan. Do you hate the co-signor that much?
Can you trade in a loan car?
Yes. You must pay off the loan with the proceeds, and pay the difference if the proceeds are less than the loan.
