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Yes, you can. The only problem is you have an obligation like a contract to purchase this vehicle. If you do not meet your obligation it will become a blemish on your credit record. When you attempt to buy another vehicle, creditors will see this blemish and it may cause difficulties in your next attempt to purchase a vehicle. You may be seen as not credit worthy in trying to finance an automobile in the traditional finance method.
What else can I help you with?
How do I make a payment on my car?
To make a payment on your car, you can typically do so online through your lender's website, set up automatic payments, mail a check to the lender's address, or make a payment in person at a physical location. Make sure to have your account information and payment details ready when making a payment.
How do I make car payments?
To make car payments, you typically need to set up a payment plan with the lender or dealership where you purchased the car. This usually involves making monthly payments either online, by phone, through mail, or in person. Make sure to follow the payment schedule to avoid late fees or penalties.
Can a credit card be used to make car loan payments?
It probably would not be looked upon in a positive light. It would be the decision of the lender to accept this type of payment.
What can you do if the lender repossess your car and they get half of the loan and you cant pay the balance?
The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.
Can you explain how car finance works in detail?
Car finance is a way to purchase a car by borrowing money from a lender, such as a bank or a car dealership. The borrower agrees to pay back the loan amount, plus interest, over a set period of time. The lender may require a down payment and will hold the car's title until the loan is fully repaid. If the borrower fails to make payments, the lender can repossess the car. Different types of car finance include loans, leases, and hire purchase agreements.
How do I make a payment on my car?
To make a payment on your car, you can typically do so online through your lender's website, set up automatic payments, mail a check to the lender's address, or make a payment in person at a physical location. Make sure to have your account information and payment details ready when making a payment.
Can a lender take your tax return until the debt is settled after you voluntarily surrender your car and you make payment arrangements with the them?
NOT unless they get a judgementand attach your returns.
Return a finance car to the lender?
My car was crashed and I lost my job. How do I return the finance car to the lender?
If you have not paid the full down payment can you take the car back without it being considered a repossession?
Rachelle, try to make a deal with the lender to return the car without the repo. At least ASK them to do it. It is their choice.
If you cant make your full car payment does the lender have to accept what you can pay?
No, but if they accept any payment, they cannot begin the repossession proccess
What is meant by a balloon payment on a lease car?
A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.
Can your car be repossed before your car payment is due?
No, until you have missed a scheduled payment (at the very least), the lender has no right to the property.
What if sell the car but owe on it?
If you owe money on the car you cannot legally sell it without the lender signing a release form removing the lien on the vehicle. The lender actually owns the car, not you. Once you make the last payment the cars is yours.
How can you lower loan payment for car?
You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.
How long can you wait to make a car payment?
Until the end of the grace period as spelled out in the contract you signed. After that, they can reposes the car. Talk to your lender if you are having problems.
What happens if a car payment is refused and you are not late or delinquent?
WHY was it refused? Not accepting it wil make you delinquient. You need to reach an understanding with the LENDER.
Can the lender repossess your car if you didn't make the payments because they never sent a payment book?
They can repossess your car if you defaulted on the loan. You knew you owed the money and you knew you didn't receive a payment book. It was your obligation to contact the lender to arrange to make your payments. You should seek the advice of an attorney who may be able to negotiate with the lender on your behalf. Not making your payments for your debt on such a technicality is really dangerous.
