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What else can I help you with?
Can you get your vehicle possession after your vehicle was repossessed?
by paying the bill or rebuy it at an aucton
How do you get your vehicle repossessed?
By not paying the payments needed or by government seizure. Zaragotha (Zara)
Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?
No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.
What is Missouri Law for paying off repossessed cars?
The laws for all US states are much the same. In MO. when a vehicle is repossessed by the lender due to a default in the terms of the contract the lender is required to sell the vehicle at public auction for the amount closests to its assessed value. If there is a discrepancy in the amount for which the vehicle is sold and the balance of the loan, the lender may pursue collection for that amount in the manner the law allows, which can include a lawsuit.
Is there any way to get a repossessed car back without paying the loan in full in Maryland?
Once your vehicle is repoed, you will have the opportunity to pay the loan up to date, plus any fees associated with the repo to redeem your vehicle. This timeframe is relatively short in duration, so if you fail to make the payment that is required, the vehicle will be auctioned.
After your vehicle is repossessed and the car has been auctioned off can arrangements be made for the remainder of the loan balance?
The vehicle was repossessed for non-payment of the lease, correct? You still owe all the money to the lender, even though you no longer have the car. You signed a written agreement with the lender promising to pay a certain amount each month for how ever many months were in the lease. You breached that written contract by not paying the monthly lease - Just because the car is taken away from you does not absolve your financial responsibility to pay for the remaining parts of the lease.
If spouse buys you a car can dealer come take car if he is not paying on the loan?
Yes a vehicle can be repossessed if the loan is not being paid on.
Can your car get repossessed even if it has been towed by another towing company for a parking violation?
Yes, the lender can recover the vehicle by paying the towing fee and other charges and then add the expenses to the loan amount the borrower already owes.
Does paying principal lower the monthly payment?
Paying the principal on a loan does not lower the monthly payment. Instead, it reduces the total amount owed and can shorten the overall repayment period.
Why is there more interest paid at the beginning of a loan period than at the end?
In a simple interest loan, you are paying interest on the amount of money you have borrowed in each payment period. When you make a payment, a certain amount of it goes to repay the loan, reducing the principle. In the next payment period, your interest is being calculated on a smaller amount borrowed. In the first payment, you are paying interest on the entire amount borrowed. In the next payment, you are paying interest on the amount borrowed minus the principle amount from the first payment. That's why paying extra principle early in the life of a loan can make a big difference in the time it takes to pay it off. In a 30 year home mortgage for example, in the first year the principle will be reduced by about the amount of one month's payment. If you make an extra payment toward the priniciple equal to one month's payment, you will have effectively gained an entire year in the retirement of the loan.
If you stopped paying your car loan but the lender never repossessed the vehicle what can you do with it?
If You Have A Clear Title On Them, About Anything You Want. If They Have A Lien On The Titles, It Will Have To Be Removed By Payment Of Loan. Otherwise Contact The Loan Company And Have Them Tell You How To Deal With This In Writing. Be Sure You Get Written Information Before You Do Anything If They Show A Lien.
Is a co-buyer responsible for paying off a loan if the buyer has no job and the vehicle was repossessed?
Yes, he or she would be equally responsible for the repayment of the loan balance.
