Check with your bank or credit union.
The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.
Yes and no. The down payment is part of the deal, but for auto loans you also have to pay the licensing fees to change ownership of the vehicle, so what is "due" at signing is the down payment plus any other fees.
In home loans it's much the same ... the down payment plus any closing, escrow fees, and pro-rated property taxes will be due at signing.
That depends a lot on your credit score and the vehicle you are buying. Newer cars attract cheaper interest rates than older vehicles. Applicants with excellent credit history are offered cheaper rates than say a applicant with an impaired credit history. Car interest rates start from approximately 4.2%.
Yes, you are still responsible for the loan no matter what happens to the car, hopefully the insurance payout covers what you still owe on it.
I bought a car last week, I had it financed and I signed the paperwork. As I got home, I got buyers remorse, it's a car that i can't afford, ( I know dumb for signing) I tried talking to the dealer but they won't let me off my contract. The thing is I never provided them with proof of income. They've been calling me all week for it. Is there anyway I could get out of this deal by refusing to show the proof income? I really, really can't afford the car. I'm a DUMB college student that made an impulse purchase
I would ask the auto loan company to send you a copy of the contract to make sure that it exists and that it is something you signed. In most cases, when you agree to cosign on a loan you take on all the responsibilities of the buyer anyway, so I am not sure how much difference it will make, but if they aren't communicating with her for some reason, make sure that the dealership didn't submit the loan incorrectly, and you didn't accidentally sign it that way.
Continue to call them and work out a settlement. Most likely they won't pick up the car if you are in a different state than the Lien holder. They don't want the car they want the money. It will cost them more to pick it up and resale it, than for them to just work out a new payment plan for the remaining balance.
Someone has the car and the finance company has a lien on it. Any sale would have been fraudulent.