A "financed" car is one that is purchased with money that is loaned to you. You then make monthly payments at a certain rate and percentage for a certain number of years and months. The car is owned outright by the one who lent the money.
Asked in Car Buying
What percentage of new car purchases are financed?
73% of new car purchases are financed, according to this website: http://www.newcars.com/how-to-buy-a-new-car/auto-financing.html ...
Asked in Used Car Buying, Insurance
If your car is financed through a dealer do you have to have full coverage insurance?
I believe it depends on the state, but as far as I know, if you have to have full coverage on a financed car, it doesn't matter where it's financed. If you still have questions, ask your insurance person, they'll know the answer. ...
Asked in Cars & Vehicles
If you financed a car can you later on trade it in for a new car?
Yes, no worries as long as that car has no defects and it is in good condition. ...
Asked in Cars & Vehicles, Used Car Buying
Can you return a used car purchased from a dealer?
A car bought from a dealer is usually financed by a bank they want there money not the car back ...
What happens if a vehicle is insured by you but financed in your fiances name and he passed away in the accident?
Explain to them that you shared the financed "account," and you should receive the money because they car was also your car. Though, sorry to hear about your fiance :( ...
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. ...
Asked in Bankruptcy Law
Can you buy a car and have it finance before bankruptcy discharged?
Yes, you can buy a car and have it financed before bankruptcy is discharged. ...
Asked in Credit
Does your credit have to be good to be financed for a car?
No, you do not have to have good credit to finance a car. There are many companies out there for those with bad credit. ...
Asked in Cars & Vehicles
Can the registration be in your granddaughters name if you are financing the car?
yes, just as if the bank financed a car, registered in an operator's name. ...
If I take my car back to the bank that financed it will they process it as a repossesion?
Yes because that is what it is.
What credit score do you need to get a new car financed?
It varies according to the dealer.
Asked in Cars & Vehicles, Vehicle Titles
Can a salvaged title car be financed?
Answer no. I have a car that is financed through a bank. I recently found out that it has a salvaged title and I am having problems with getting full coverage insurance. the bank along with me didn't know it was a salvaged title at the time so what can I do. ...
Can a car dealership who in-house financed the car repossess it?
YES, if they have the folks, ect. to do it. A lot of note lots do so.
Asked in Insurance, Auto Insurance
What do you do if you had no insurance on a financed car and it was stolen?
Keep making payments on a car you don't have and learn your lesson about not letting your insurance lapse. ...