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What else can I help you with?
How do you spell upside down?
Main Entry: backward Part of Speech: adverb Definition: Toward the back. Synonyms: about, around, back, rearwardMain Entry: back Part of Speech: adverb Definition: In or toward a former location or condition. Synonyms: about, around, backward, rearward, round If you mean going backwards like a car, "reverse" is the word you are looking for.
Can you use a car loan as a down payment on a car?
ya of curse you can use the upside down car loan for buying a new car...
Are you responsible for the difference of equity on an upside down mortgage?
Yes, you are responsible for the loan amount (you signed the papers for the loan)
What does it mean to be upside down in a loan and how does it affect your financial situation?
Being upside down in a loan means you owe more money on something, like a car or a house, than it is worth. This can happen if the value of the item decreases faster than you pay off the loan. Being upside down can affect your financial situation because if you need to sell the item, you may not get enough money to pay off the loan, leaving you with a debt even after selling the item.
Can you trade a car that's upside down?
As long as we are talking about the loan being upside down, not the car:Yes you can trade it,BUTIt is not recommended as you will pay a large penalty in extra interest.
Is it possible to get a title loan on a motorcycle?
Yes, it is possible to get a title loan on a motorcycle.
How do you sell a car when you are upside down on the loan?
If you have funds to pay off the loan balance, you can sell a vehicle with negative equity. Example: you owe $10k on a car, but the best offer you have is $8k. You must be able to payoff the remaining $2k balance of the loan to your lender to fully absolve yourself of the financial obligations as a borrower. Transfering the title is another matter, and you should reference your state laws.
Can you refinance if your loan is upside down?
turn it right side up stupid, everyone knows that.
If you purchase a motorcycle through a delaership and get a loan from a bank then pay off the loan with a balance transfer to your own credit card bc the is less-who gets the title?
You get the title
If you trade in a car that you owe money on will you have to pay the previous car loan plus your new loan?
Yes. It is referred to as "upside down" financing.
When upside down in a car loan how much more do you pay on a trade in?
If you are upside down with your car loan, meaning you owe more on it than what it is worth, you will need to pay the deficiency. That means if you owe $11,000 on your car and it is worth $9,500, then you will need to come up with $1,500 to erase the deficiency.Keep in mind that this may only be the first step. You may also need to come up with a down payment on top of paying the loan deficiency. If you do not put money down and are still approved for a car loan, then you will find yourself upside down with your new car.
Is the consumer liable for the balance of the loan on a repossessed motorcycle in the state of CA?
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.
