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Will the bank go after your house if you don't pay for your car loan?
Wiki User
∙ 16y ago
no, your car loan is secured by your car, your mortgage by your home
Wiki User
∙ 16y ago
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What is easier to pay car loan or bank loan?
bank loan
What does a secured loan and unsecured loan mean?
A secured loan is a loan in which there is physical collateral, meaning there is a physical item of worth that can be taken by the bank if the loan is not paid. Examples of this include a car loan or mortgage (house loan); the car or house are the collateral and therefore are the 'security' that the bank will not lose money on the loan. An unsecured loan is a loan in which there is no physical collateral, meaning there is no item of worth the bank can take if the loan is not paid. Examples of this include credit card debt or a student loan; in these cases, if the loan isn't paid the bank has to use a collections agency to try to get the money back.
What do you do when the bank tells you they will cancel your arranged payment on a car loan account?
== Arranged payments== In my experience they will repo your car, if you dont make other arrangements.
What if you want your vehicle repossessed?
I heard if you surrender your car back to the bank the loan is from, they will auction the car to get money back, if they DONT get the whole amount of what you OWE on the car... They will bill you the balance.T
One person car loan and death?
Heirs pay loan or bank takes car.
What is the bank loan value of your car?
It's Depends on you earning and and documents you submitted for car loan.
Can a bank put a lien against your house if you cosigned on a car loan that has 1500.00 left on the loan unpaid?
Yes. The bank must get a court judgment and can then record a lien in the land records against your real estate.
What type of a credit rating will I need to get a standard bank loan?
You need to have a score over 700 to get a standard loan like for a car or house. You might ned less for a small personal loan.
What is the difference between secured and unsecured loan at the bank?
A secured loan is where there is a physical item that can be claimed if the loan is not paid - a house, a car, jewelry, etc. An unsecured loan is where there is nothing for a bank to take to get its money back if you default, such as education loans, credit cards and similar loans.
What is a sentence with Loan?
I took a loan from my bank to buy my first car.
What provides a bank with collateral on a car loan?
The car itself
Can you change the name on your car loan so that my daughter can take it over?
It is possible for your daughter to assume responsibility for your car loan, but only with the agreement of the bank that issued the loan; you can discuss this with the bank.
