You can trade it in but the dealer will have to pay it off before consumating any deal he has with you. Charging it off does not relieve you of the debt nor does it erase the lien on the title.
Yep!
It might get repossessed.
If you have not driven off the lot with the vehicle and have not turned over the title for trade there is no deal. They still have the vehicle you agreed to buy, and the bank has to approve the loan which has not been done either.
NO. He will give you the difference in the pay off on the trade in and the trade in value. Stop right where you are. Sell the vehicle yourself and pay off the loan. Then go buy another car without a trade in. The price of the car will drop as soon as you tell them you have no trade in. You will be money ahead. Trade in value is basically wholesale value. You can sell the car for far more than that yourself.
yes if the compreser is cycling on and off it could mean that you don't have enough freon
Yes, the repo man can still recover the vehicle. The term charge off only describes the status of your account with a financial institution. It doesn't resolve that actual lien that the financial institution has on the vehicle. In other words, your name is on the title but financial institution is the owner/lienholder of the vehicle until the balance on the account has been paid off.
If your question relates to an auto loan, as soon as you pay off the loan, the lender will forward you the original title and the lien holder box (indicating who has a lien on the vehicle title) will be signed (indicating it has been satisfied and released). Once you have the vehicle title properly signed, you can freely trade or sell the vehicle. If you sell the vehicle as part of a trade with a dealer they are willing to take the vehicle and upon payoff, they will get the title directly from the lender. (You'll be signing a release and authorization as part of the transaction.)
Just because the company charged off the account, does not mean that they don't want to be paid...so if the car is still assessible...they can repo it. Charged off on your credit means that it is no longer an active paying account..the company took a loss for that amount. A different department, "Profit & Loss" will take over trying to collect any way possible. Sorry.
Of course. It is your vehicle free and clear, so do as you wish with it. Just be sure and get a lean release from the former lender.
Pay it off. It will still likely be repossessed.
Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.
If the debt has been cancelled, no; if the debt has been charged off, yes.