In most cases you are still liable for the remainder. Check with the lender to see if they will waive the balance left over. If not you are probably going to have to come up with it.
You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.
What are loan proceeds
The vehicle will be sold at fair market value and the proceeds will go to pay off the secured loan. If the auction price does not cover the amount of the loan plus fees - then yes, the balance would be due from the consumer.
No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
You can pay off the existing loan balance. This can be done at any point during the loan.
Existing Loan Calculator Use this calculator to analyze one of your existing loans. Calculate your remaining balance based on the number of monthly payments you have remaining. You can then click on the "View Report" button for a complete, payment by payment, amortization schedule of your loan.
Yes. You must pay off the loan with the proceeds, and pay the difference if the proceeds are less than the loan.
aplus loan proceeds
Yes, but it does depend on what Country you are in!
Yes. The one-time referral, packaging, and guarantee costs as well as closing costs are deducted from your loan proceeds at the time of business funding. However, costs for other services, if any, are not deducted from loan proceeds.
Loan is on balance sheet
Yes, you are still liable. If the sale doesn't cover the cost of the loan, the balance has to be resolved. If there is money left over, after costs, the person that was paying on the loan gets the balance.