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.
they take your car
You need to make arrangements to pay it off.
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.
When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.
the bank cant come and steal it. but the insurance company can if you dont pay that
cash, then you dont have to pay anyone back
when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan
The lender could foreclose on your house.
you continue to pay the note. just because you do not have the car available to drive at your whim doesn't allow you not to pay the note.
If you made all your payments on time this will improve your credit record.
i want to pay but he say must pay full..he dont want to discuss but that car i pass to bank already that time i lost my job, so now i want to clear my loan how?
Try to make him pay off his loan or you will have to pay it off cuz you cant register it. I know you can junk or sell a car with a loan on it. So i would take him to cort for fraud.
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.
To get out of a used car loan, pay off the loan or find someone else who will do that.
The lender will expect you to pay the deficiency which is the difference between the amount owed on the loan and the amount they get for selling the car.
Get a credit card, small loan, car loan... You need to get something that reports to the credit beauros. They will decide when you pay or dont pay to give you a score.
It is paid to the estate of that person and is used to pay his unpaid debts or given to his heirs.
The loan will be a default loan
if you dont pay usualy they will keep billing you until you do pay it or even you might have to go to court.
Heirs pay loan or bank takes car.
no, your car loan is secured by your car, your mortgage by your home
Possible?? YES. IF your loan is CROSS-COLLATERALIZED with another loan, YES. IF you owe repair bills on the car, the repair shop can repo it if you dont pay.