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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.

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โˆ™ 2006-09-07 03:19:42
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What is forfeiture

Which of these is the best description of delinquency

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Q: What happens if you can't make your first payment on a car loan?
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Related questions

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.


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.


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.


A payday loan is a type of what?

Single Payment Loan


What is journal entry when making a payment on a loan?

Bank a/c Dr To Loan Payment a/c


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.


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 is a payment calculator loan?

A payment calculator loan is a loan where the monthly payment that is due each month has been calculated. Depending on what type of loan it is, you may have to start paying now, or you may have to pay later.


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.

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