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It is treated as a voluntary reposession and it still hurts your credit. They will auction the car and you will pay the difference of your loan and the amount they get from auction.

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โˆ™ 2006-03-17 19:57:55
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Q: What happens when your return a car to finance company?
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Can you return a used car to the finance company in Canada?

Yes, you can return a used car to the finance company in Canada. However, you also can consider returning it to the dealer you bought it from as well.


How do you get out of your car loan?

You can get out of your car loan by selling the car you have. You can also return the car to the finance company.


Can you return a car bought on a personal loan when you were told it was on finance?

Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.


What happens if you no longer have the car and the finance company trying to repossess?

Someone has the car and the finance company has a lien on it. Any sale would have been fraudulent.


What happens if car dealer lies to finance company?

who the hell noes that?


Return a finance car to the lender?

My car was crashed and I lost my job. How do I return the finance car to the lender?


If a car on finance is stolen and insurance pays out but then the car is recoverd what happens to the car?

It belongs to the insurance company


What happens when car dealer is misleading customer and finance company?

usually called FRAUD


What happens if you part out a financed car?

You still owe the finance company the balance owed.


What happens when towing company auctions your car and you have a car loan?

Then you're screwed. The tow company put a mechanic's lien on your car, then they auctioned it off to recoup their costs. You're still liable for the payments you owe to the finance company.


Why would car finance company return your contract to dealership?

there could be several reasons some of them being, sometimes car finance companys request stipulations for the loan such as proof of income, proof of address, proof of employment,


What happens if your car gets stolen and you have no insurance and the car is on finance?

The finance company will want to be paid in full if they find out it's stolen. The responsibility to satisfy the loan falls on you seeing that you failed to maintain insurance.


How do you find out if the owner still owe a finance company on the car you are buying?

how do you find out if the owner still owe a finance company on the car you are buying?


Who get the money if the car is totaled and the car is on chapter13?

The insurance company will pay the finance company not you.


After you've signed papers on the car and the auto finance company rejects you for a loan can you bring the car back and not try to get another finance company to loan you money for the car?

YES.


What happens if you contact a finance company about your car loan they will be financing and tell them know you don't want them to finance it?

As long as you haven't signed the contract, you will just have to find other financing.


When your car gets towed and you have it finance but have no insurance or DL. can the finance company pick up the car for you?

ABSOLUTELY.


What happens if you don't return the vehicle?

To the car dealer? To the rental company? To your friend? You have to be more specific in the question.


Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?

You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.


How do you terminate a car lease when the car is a lemon?

ask your finance company


Does it take long to finance a car?

It should not take very long to finance a car, depending on the car's model, condition, etc and also the finance company you are financing the car from.


Does the finance company own your car if the dealership is out of business?

If you financed your car then it is always owned by the finance company, regardless of if the dealership is in business or not, until you finish paying it off.


In California does a finance company have the right to repo a car from a police impound when payments are not behind?

No, They would have to be behind on the car payment The above is not always the case. It can depend on what the car was impounded for. If it was impounded for something like drugs where asset forfeiture comes into play then yes the finance company can take the car regardless of payment status. The reason for this is because there are times when the authorities will tell the finance company that if the vehicle is returned to the registered owner the finance company will lose their rights to it as well. The finance company does not have to hand their collateral back to you if it means loss of collateral, it is their car after all.


Can you return a car halfway through a finance agreement without penalties?

You cannot return a car half way through a finance agreement without penalties. This is because it causes the owner a lot of stress.


What happens if the car gets stolen and its still on finance?

You will still owe the finance company the balance of your finance note. Hopefully you have full coverage insurance. If you do have full coverage, the Comprehensive portion of your policy will generally pay off the finance company up to the insured limits (usually the remaining market value) of your insured auto.