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Your question assumes that the subject is the "vehicle". This actually concerns the money you borrowed which just happens to be secured by a vehicle.
The only time a consumer "buys a car" is when they pay cash for one. If you have to finance a car, you sign a contract borrowing money that you agree to pay back at certain terms. Regardless of what happens to the car, the credit grantor still expects to be repaid the money you borrowed at full terms.
Anytime a loan is secured; creditors have the option of re-selling the security (in this instance, a car) to recoup some of their loss on the loan. If there is a difference between the amount that was borrowed and the re-sale price, the consumer is liable for the difference. The is known as a "voluntary repossession". Any deficiency balance becomes a charged off bad debt. The creditor may take any legal means to recoup their loss, including filing a law suit, garnishing wages, freezing bank accounts and placing a lien against any real property (depending on state law). The derogatory item would certainly be reported on your credit.
What else can I help you with?
How do you get a co-buyer off of a car loan if they are in default?
You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.
will the current problems at the stock market, affect our annuity payments?
No, you annuity payment should have been fixed up front.
Will My Payments Increase In Between The Term Of The Lease?
No. Your payments are locked in for the complete term of the lease. However, in case the tax rates increase, then on that way it will affect your payments.
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.
If a mortgage payment is 20 days late will that be reported to the credit bureaus?
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
How do you get a co-buyer off of a car loan if they are in default?
You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.
What is inertia in driving and how does it affect the movement of a vehicle?
Inertia in driving refers to the tendency of a vehicle to resist changes in its motion. It affects the movement of a vehicle by causing it to maintain its current speed and direction unless acted upon by an external force, such as braking or turning.
If you own more than one property and you are foreclosing the other property how will it affect the property that is still current on payments?
There will be no affect to the house with the current payments. Even if they are with the same lender. But it will hurt your credit badly...at least for 4 years.
will the current problems at the stock market, affect our annuity payments?
No, you annuity payment should have been fixed up front.
How does turning off the current in a industrial electromagnet affect its magnetic field?
Turning off the current in an industrial electromagnet will cause the magnetic field to weaken and eventually disappear. This is because the magnetic field is created by the flow of current through the coils of the electromagnet, so stopping the current flow stops the generation of the magnetic field.
How can turning off the electric current in an industrial electromagnet affect its magnetic field?
Turning off the electric current in an industrial electromagnet will cause the magnetic field to weaken or disappear as there is no longer a flow of electricity to generate the magnetic field. The strength of the magnetic field is directly related to the amount of current flowing through the electromagnet.
Can I get my ex wife to co-sign an auto loan for me?
Sure, you can ask her. You need to inform her that she will be completely responsible for paying the loan if you default on the payments even though she will have no ownership interest in the vehicle. A co-signer should always be completely informed about the consequences of co-signing. They are guaranteeing that you will pay. If you miss payments it will affect their credit record. If you default it will also wreck her credit.Sure, you can ask her. You need to inform her that she will be completely responsible for paying the loan if you default on the payments even though she will have no ownership interest in the vehicle. A co-signer should always be completely informed about the consequences of co-signing. They are guaranteeing that you will pay. If you miss payments it will affect their credit record. If you default it will also wreck her credit.Sure, you can ask her. You need to inform her that she will be completely responsible for paying the loan if you default on the payments even though she will have no ownership interest in the vehicle. A co-signer should always be completely informed about the consequences of co-signing. They are guaranteeing that you will pay. If you miss payments it will affect their credit record. If you default it will also wreck her credit.Sure, you can ask her. You need to inform her that she will be completely responsible for paying the loan if you default on the payments even though she will have no ownership interest in the vehicle. A co-signer should always be completely informed about the consequences of co-signing. They are guaranteeing that you will pay. If you miss payments it will affect their credit record. If you default it will also wreck her credit.
Can I trade in my car if I am behind on payments?
You absolutely can trade in your vehicle even if you are behind on your payments. When you trade a vehicle in the dealership you are purchasing from pays off your previous loan in full, so being behind on your payments will not affect anything other than the total amount due on your car. Of course when the new dealership runs your credit report it will probably reflect that you are currently behind and will also show how many months you are behind.
Does an electric current affect weight?
No, an electric current does not affect weight.
You recently took out a used vehicle loan and have not began to make payments will this affect your probability of getting a credit card?
No, it shouldn't unless your debt to income ratio is affected or having a good credit score.
Will My Payments Increase In Between The Term Of The Lease?
No. Your payments are locked in for the complete term of the lease. However, in case the tax rates increase, then on that way it will affect your payments.
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.
