0
What else can I help you with?
How do car payments affect credit score?
Car payments can affect credit scores positively if they are made on time and in full, showing responsible borrowing behavior. However, missing payments or defaulting on a car loan can lower a credit score significantly.
In the state of Georgia can you go to jail for defaulting on a car loan?
No.
How does a car lease impact your credit?
A car lease can impact your credit in both positive and negative ways. Making on-time lease payments can help build a positive credit history, showing lenders that you are responsible with your finances. However, missing payments or defaulting on the lease can harm your credit score and make it harder to get credit in the future.
Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
What are the consequences of defaulting on a personal loan in Texas?
Defaulting on a personal loan can effect your credit in a negative way. The lower your credit rating, the harder it is to get a loan in the future. Loan default is a civil matter, not criminal, so there is no need to worry about any jail time being served because of it. If you take out a personal loan to purchase a car and then default on the payments, the bank can take the car from you. Which will then leave a repossession on your credit report.
Can a leased car be used as collateral?
Not really. There is no residual value assigned to the leasee, so there is nothing to foreclose on. At the end of the lease you have nothing.
Can defaulting on a car loan ever be considered a crime in the state of California?
Only to financiers
Can criminal charges be pressed on defaulting on car title loan?
No, there is no such a thing as a debtor's prison.
If I co-sign a car loan from my boyfriend will I be able to be removed as a cosigner ever?
i just searched this topic online because i cosigned for my bf's car loan today with honda... the way our was set up was that if he makes all his payments on time for the next 6 months, he has the option to refinance with himself as the only applicant and will take me off as the leasee... not sure what car company you're buying from but you should check about this
What are the terms and conditions of the car sale payment agreement?
The terms and conditions of the car sale payment agreement outline the specific details of how the payment for the car will be made, including the amount, due dates, interest rates, and any penalties for late payments. It also includes information about the consequences of defaulting on the agreement and any other important conditions related to the payment process.
What are the terms and conditions of a private car sale contract with monthly payments?
The terms and conditions of a private car sale contract with monthly payments typically include details about the car being sold, the purchase price, the down payment amount, the monthly payment amount, the interest rate (if applicable), the duration of the payment plan, any late payment fees, and the consequences of defaulting on the agreement. It is important to carefully review and understand all terms before signing the contract.
Can you be sued for a car you bought from a buy here pay here lot that you called them and told them to pick the car up because you could no longer afford the payments?
This is called defaulting on a loan. You will pay in the end. You will pay the difference in what they sell the car for and what you owe on the vehicle. And believe me they don't care what they sell the car for. Why should they as they know you are going to pay the difference. Your credit will also be ruined for 7 years. Are you beginning to see just how dumb it is to tell them to pick up the car and default on the loan. Another word for this is repossession. Get the car back and make the payments, or at the very least talk to the lender and explain your situation. They can restructure the loan so you can afford the payments. You do not want to allow the car to be reposed.
