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Whoever is selling you the new car and then they roll it into the amount you are paying for the new car, charge you to do this and if it is dealer financed, they get the interest on that money. Basically you pay off the balance at a higher rate than you were paying.
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∙ 14y ago
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Will a car dealership payoff a leinholder?
Yes, If you are trading in your car, or selling your car, to a car dealership they will payoff a leinholder in the process.
Can you trade in a car that isn't fully paid off?
Yes, you just add the payoff amount of the car you are trading to the price of the car you are buying.
Can you trade in a car with a balance to lease a car?
There should be no balance in trading each car. No one will accept the kind of deal.
When an auto is totaled and the insurer takes the auto and pays the insured the actual cash value of the car at the time of the loss this is an example of?
Total loss payoff
If you pay off the balance on your repossessed car to get it back do you have to pay the balance owed with interest based on the original 5 yr loan?
Unless you get the lender to agree to an offer, you will pay the balance due for payoff(repo fees, late charges,ect. have likely devoured any reduction in interest you would have seen for early payoff)
If your car was repossessed today but you are willing to pay off the remaining balance do you have a good chance of getting the car back?
Call the lender first thing in the morning and make the arrangments to payoff.
Do you pay what is left on the loan or what the lienholder sells it for on a voluntary repossession of a car?
On ANY repo, you pay the balance due AFTER the car is sold. Payoff = 5K, car sells for 2k, fees = 1K, you owe 4K.
If a car is repossessed and you pay the balance after they sell the car do they remove the Repo in your credit report?
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
Does gap insurance cover a death?
No. If a car is determined to be a total loss as a result of a collision, GAP insurance pays the difference between what the collision coverage pays as the actual cash value of the car and the outstanding loan balance.
Can you get your payoff of your car lowered if your car needs a new engine?
NO!
If your car was totaled will the check come in your name if there is a lien on it and you released the car to the insurance company?
Loan company gets paid first if you owe more then the insurancwe pays you owe the balance, if insurance pays more then loan you get the differance.
If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?
IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
