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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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∙ 18y ago
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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?
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
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?
What happens if you part out a financed car?
You still owe the finance company the balance owed.
What happens when car dealer is misleading customer and finance company?
usually called FRAUD
Can a finance company report your car as stolen?
Yes, they can. They can't finance you car if your car is a stolen car. When you put your car from a finance company, make sure that your car isn't stolen and bought it in a big car company.
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.
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,
