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What else can I help you with?
Do you make car title loans?
Do you make car title loans
What are some examples of amortized loans?
Some examples of amortized loans include mortgages, car loans, and student loans. These loans involve regular payments that gradually reduce the principal amount borrowed over time, along with interest payments.
What are the benefits of financing cars on PCP compared to traditional car loans?
PCP financing offers lower monthly payments and the option to return the car at the end of the term, while traditional car loans involve higher monthly payments and ownership of the car from the start.
Lawrence got a car loan from a bank with the car as collateral. What kind of loan did he get?
Lawrence received a secured loan, specifically a type of installment loan, since the car serves as collateral for the loan. This means that if he fails to make the required payments, the bank has the right to repossess the car to recover its losses. Secured loans typically have lower interest rates compared to unsecured loans due to the reduced risk for the lender.
If a car is repossessed and you agree to make some kind of payments ever month will they still list it on your credit as a repo?
Yes but it will also list that you are making payments!
What type of loan requires the borrower to make monthly payments?
Most loans require monthly payments. The ones most referred to in this category are mortgages, car loans, personal loans, and credit card loans. Also, student loans are repaid monthly and usually after a student has left college or has graduated from college. There are some loans where the repayment is in the form of a lump sum. One example of this is margin loans from a stockbroker. Normally when a stock is bought or sold on margin, the money borrowed to complete the transaction is repaid to the stockbroker in a lump sum.
Does a co-signer have the right to take the car if you are behind on payments?
When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.
If the primary buyer refuses to make car payments and drops the car off to the cosigner What is the cosigners responsibility?
To make the car payments. Just be glad you have the car too.
What are the dangers of no credit auto loans?
No loan is without risks. Those who borrow money to make a big-ticket purchase have to consider all the factors. For no-credit auto loans, buyers should realize that dangers include high interest rates, high penalties for missed payments, and the possibility of losing title to their car if they cannot make the payments they've agreed to.
If your payments are up to date but you want to turn the car in early because the payments is a financial burden what will this do to your credit?
It will make a repo appear on ones CR and subsequent loans will require a higer interest rate and possibly higher down payment.
Take Out A Loan For An Easy Fix?
In a tough economy, sometimes bills can become quite overwhelming to pay. A person may find that he or she needs to pinch every penny just to make a cell phone, electric, or gas bill. Instead of truly forcing one's self to live a very low income lifestyle on very little, a person can create some ease in life by taking out fast auto loans to make car payments. This is one expense that can be easily eliminated if a person is struggling in his or her financial life. Taking out auto loans is truly a great idea for any person that needs to make high car payments. Car payments can be an incredible expense that truly deplete one's financial resources. Instead of allowing car payments to take over one's financial life, it is a great idea to take out loans that can be used over the course of a few months to make certain payments. By taking out these loans, a person will have access to other money that can be used for cell phone bills or electric bills.
Is auto refinancing expansive or not?
Auto refinancing is generally expansive since it basically allows you to get money out of an expensive car by taking out a second loan on the car (kind of like a reverse morgage. This makes it so that there are two loans, but it does seem to lower one's car payments substantially.
