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a man comes in the middle of the night and takes it away and you get it back when you tally up what you owe or they auction it off if they feel they held it long enough for you to pay what you owe.
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∙ 15y ago
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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.
Should you use your home equity loan to pay off your car loan?
I would need more details but in general, the answer is no. If you don't pay your car loan, you lose the car. If you get a home equity loan and can't repay it, you lose the house - big difference.
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.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
Can you buy a car without having to pay a loan?
no
Can a buyer back out of a car contract if unable to afford the cost of the insurance?
Nope, once you sign, the car is yours. You can still pay the loan for the car without insurance.
What is student loan forgiveness?
Student Loan Forgiveness is when a student can't pay a loan that he owes and so the government has money to pay for that loan if he/she is unable to make the payments on it.
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 is easier to pay car loan or bank loan?
bank loan
Can you get car loan with bad pay history from previous loan?
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.
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
One person car loan and death?
Heirs pay loan or bank takes car.
Will the bank go after your house if you don't pay for your car loan?
no, your car loan is secured by your car, your mortgage by your home
Can you trade in a loan car?
Yes. You must pay off the loan with the proceeds, and pay the difference if the proceeds are less than the loan.
Do you have to pay off the car loan if you have totaled the car?
Yes, if your insurance company will not pay it all.
Do you have to pay off the car loan if you total the car?
Yes. Hopefully the car is insured, and the insurance money recieved will cover the loan of the car.
How do i get a new car but keep my loan?
You don't need a loan you can just pay.
