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When you took out the loan for the car the banking institution worked out how many months and for what amount the payment would be each month. If you have lost a job or are between jobs, were ill, were in an accident, then if you are honest you can talk to the bank manager and they will usually be quite willing to adjust your loan payments. The smaller the loan payment the longer it will take you to pay it off because of the interest applied on the outstanding loan. So, you could spend an extra couple of years paying this off. Banks don't want the vehicle, they want their money. Good luck Marcy
What else can I help you with?
Can you pay off someone else's car loan?
Yes, it is possible to pay off someone else's car loan by providing the lender with the necessary funds to settle the remaining balance on the loan.
Should I pay off my student loan or car loan first in order to save the most money in the long run?
It depends on the interest rates of each loan. Generally, it's best to pay off the loan with the higher interest rate first to save the most money in the long run.
Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
How long will it take to pay off my loan if I pay extra?
The time it takes to pay off your loan will be shorter if you make extra payments.
How can I accelerate paying off my car loan by doubling my car payments?
To accelerate paying off your car loan by doubling your car payments, simply make a payment that is twice the amount of your regular monthly payment. This will help you pay down the principal balance faster, reducing the overall interest you pay and shortening the time it takes to pay off the loan.
Can you sell your car if you are making payments?
Yes as long as you pay off your loan.
How long does it take to pay off a car loan at average interest rate?
The time it takes to pay off a car loan with an average interest rate depends on many factors such as the type, cost, and mileage of the car. The average to pay off a car loan for a new car is generally about 5 years, give or take the model of the vehicle.
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
How do you get out of a car loan that you don't want anymore?
Pay it off, voluntary repossession, sell the car and pay it off.
Can you pay off someone else's car loan?
Yes, it is possible to pay off someone else's car loan by providing the lender with the necessary funds to settle the remaining balance on the loan.
When your car is repoed and you pay the loan off how long do they have to give the car back?
they usually do not give it back. once they take it, it is theirs.
Should I pay off my student loan or car loan first in order to save the most money in the long run?
It depends on the interest rates of each loan. Generally, it's best to pay off the loan with the higher interest rate first to save the most money in the long run.
Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
Do you have to pay off the car loan if you have totaled the car?
Yes, if your insurance company will not pay it all.
Can you trade in a loan car?
Yes. You must pay off the loan with the proceeds, and pay the difference if the proceeds are less than the loan.
How long will it take to pay off my loan if I pay extra?
The time it takes to pay off your loan will be shorter if you make extra payments.
What happens if you don't pay off your car title loan?
they take your car
