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Can the cosigner be taken off the auto loan contract if stated and the loan is in good standing for 12 months?
No the co-signer is on for the life of the loan
Can you pay off your auto loan to the lender?
Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.
What is auto loan death insurance and how does it work?
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
What are auto loan rates used for?
Auto loan rates show the person receiving the loan the amount of interest a receiver will pay for the loan. A high rate will mean that it will take longer to pay off due to more money needing to be paid for the interest.
Why is my auto loan closed?
Your auto loan may be closed because you have fully paid off the loan amount, or because the loan term has ended.
How can you get off a auto-loan as a co-signer?
The loan needs to be re-financed and be assumed solely by the person who originated the loan. The original person will need to have a worthy credit rating in order to escape the need for a co-signer.
What can you do if you co-signed an auto loan and three months later you want your name taken off?
The only way to be removed is to have the loan refinanced by the primary borrower without the participation of the cosigner.
What is grantor?
what is the responsibility of a grantor, putting up security example car if the person that has taken out the loan has not paid the loan off in full what is the responsibility of a guarantor
If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
Can you pay off a auto loan early?
Yes you can pay off an loan as early as you'd like.
If you want to pay the auto loan amortization schedule off early are there any early settlement charges?
There are usually no early settlement charges if you want to pay an auto loan off early. There will be charges if you pay an auto loan off later than scheduled.
Are there penalties for prepaying a bad credit auto loan?
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
