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What happens if you can't make your first payment on a car loan?
Wiki User
∙ 17y ago
You have to pay for it later. If you proceed to not pay them, the loans will build up. The same thing that will happen if you go 60 days with no payment on any of the loan payments, eventually they will repo you car. If you can't make the full payment, SEND SOMETHING. You can thing petition the court at a later day to prevent repossession (called an injunction) by proving you have done everything in your ability to pay for it. The company will also cut you a little more slack. Make sure you pay you loans, it will destroy your credit if you don't.
Wiki User
∙ 17y ago
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Who is responsible for the car loan if they are on the top of the loan?
typically the first name on the loan is the person responsible for the payment of that account. if the first named person cant make the payments, the loan company will turn to the co-signer ( 2nd name ). if neither party makes payments the loan will go into default in which both parties will have reports on there credit history.
What if you cant pay back your payday loan?
If you miss the scheduled payment date on a payday loan the interest rate will mount at a rate of 1% per day, there will also be a late payment charge attached to your account. If you are unable to pay the loan within 60 days of the scheduled payment date the loan will be sent to debt collection
What is a down payment?
a portion of the purchase price that is paid as a condition of getting a loan. In other words, it is the first payment in installment buying.
What happens if you make a verbal agreement on a personal loan about terms for payback?
It's your word against the other,and what happens you'll probably never receive payment.
What function in excel takes rate payment and loan amount and outputs a monthly loan payment amount?
The PMT function in Excel outputs a monthly loan payment amount.
Can a loan company apply a fee for payment to the principal of a loan?
no they cant. they must go by the original contract
Who is responsible for the car loan if they are on the top of the loan?
typically the first name on the loan is the person responsible for the payment of that account. if the first named person cant make the payments, the loan company will turn to the co-signer ( 2nd name ). if neither party makes payments the loan will go into default in which both parties will have reports on there credit history.
What if you cant pay back your payday loan?
If you miss the scheduled payment date on a payday loan the interest rate will mount at a rate of 1% per day, there will also be a late payment charge attached to your account. If you are unable to pay the loan within 60 days of the scheduled payment date the loan will be sent to debt collection
What happens if you cant reach the student to repay your loan?
If a student is unable to repay a loan, then he or she should first talk to their lender. This will give the person a better chance of reaching an agreement, rather than ignoring the payments and defaulting on the loan.
Lost job and Cant afford car loan what can I do without hurting my credit?
Call loan company and explain your situation, see if they can offer you a delayed payment schedule, etc.
How can you lower loan payment for car?
You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.
What is a down payment?
a portion of the purchase price that is paid as a condition of getting a loan. In other words, it is the first payment in installment buying.
What happens if you make a verbal agreement on a personal loan about terms for payback?
It's your word against the other,and what happens you'll probably never receive payment.
Function takes rate payment and loan amount and outputs a monthly loan payment amount in excel?
The PMT function in Excel outputs a monthly loan payment amount.
What function in excel takes rate payment and loan amount and outputs a monthly loan payment amount?
The PMT function in Excel outputs a monthly loan payment amount.
What happens when your husband dies leaving an outstanding car loan?
The lending institution can place a claim for payment against the estate.
What is the difference between buying on margin and margin call?
Buying on margin, taking a "margin" loan from the broker to help buy part of a stock purchaseMargin call, this happens when the broker demands full payment of your "margin" loan
