Best Answer

then they take your car and repo it.

User Avatar

Wiki User

โˆ™ 2011-12-02 17:09:23
This answer is:
User Avatar
Study guides


26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

See all cards
3 Reviews

Add your answer:

Earn +20 pts
Q: What happens if your car loan is illegal?
Write your answer...
Still have questions?
magnify glass
Related questions

Is it illegal to reposses a vehicle outside the stste?

No it's not illegal to repossess a car outside the state. It is illegal to leave the state with the car that you have defaulted on the loan.

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 happens to your car loan if you die?

The estate has to resolve the loan, either through selling the car or returning it to the lender.

What happens to balance on car title loan when car is stolen?

Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.

What happens if you Car title loan in default and car is totaled?

Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.

What happens if you don't pay off your car title loan?

they take your car

What happens if you stop paying your car loan?


Is it illegal to use a financed vehicle as collateral on a loan?

Well yes.... The car in question is already collateral for the first loan.

What happens if you are in default on a car title loan?

The creditor reposseses the car, and you take the bus.

What if you sell the car and you have a title loan out on it?

That's illegal. Technically, if you 'borrow' money against your vehicle, the car becomes the property of the loan company until you've repaid the loan. If you sell the car before the loan is repaid, you're likely to land yourself in court !

What happens to a existing car loan when trading your car?

You need to make arrangements to pay it off.

What happens if you dont make any payments on your car loan?

u eventualy lose your car

People also asked