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What happens when your loan is not paid off and you still have the car?
Wiki User
∙ 13y ago
You can still have it ,but you will be paying heavily for it and have no resale value for it.
Wiki User
∙ 13y ago
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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 happens if I don't repay an auto title loan?
You will lose the car if the Auto title loan is not paid. The lapse in repayment can result in reposession of the car.
What happens when car loan is paid off but late charges are due?
THEN THE LOAN IS NOT PAID OFF! All late charges, penalties are added to the principle amount and then the payments continue until all owed monies are paid. Penalties and repossession are still done at this point in the process
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.
If you moved to another country but still have a car loan can you refinance that loan in someone else's name?
The "someone else" needs to apply for a loan to pay off your car loan. With your loan paid off, you can sign the title over showing it free & clear. Don't sign off on the title until you know the loan is paid--or you could find that you no longer own the car but still have a loan to pay.
Do you need a loan if a friend is giving you a car not fully paid for?
no you have still have to pay for your car that's what i had to do x
The insurance company payoff is less the the amount of the car loan?
The loan still has to be paid, according to the law in most countries.
Your car was repo for a title loan that you paid and paid as well 1244 in iterest you still owed 1180 in interest for a 2500 loan amount Now they want 2877 to release your car and give you back tital?
how do I get my car back .
Can the bank repossess your car after the loan matures and you still owe?
If you still owe on the car (whether matured or not), the bank can take it if you don't pay. It belongs to them until the loan is paid and the title is sent to you.
If you are in a car accident and the car is totaled does your car loan get paid off through insurance?
Not unless you have the new option in insurance of the new car replacement. If your car is totaled, you will be paid the Blue Book price for your vehicle. This sum is the amount your vehicle is worth at this time. Any amount over this sum that is still owed to a car loan is still due.
What is the statue of limitations on a car lien?
The lien is no longer applied to the vehicle when the loan is paid off. You can then get a lien release from the lender. As long as the loan has not been paid off the vehicle still has a lien on it.
What happens to remaining payments if you trade car in?
The remaining payments are usually rolled into your new car loan. The dealership cannot transfer the title into their name without the vehicle loan being paid off.
