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What is easier to pay car loan or bank loan?
bank loan
If your car that you took a bank loan out for was in an accident and written off and your insurance company sends you a check for the car's value do you then have to pay off the bank loan in full?
Yes, you are still responsible for whatever amount remains unpaid on your loan.
How do you determine the value of a car for sale?
Go online to kelleybluebook.com or your bank loan department can tell you.
How can you get a loan on a paid-off vehicle?
To apply for a loan on a paid-off vehicle, first if the "true" value is more than or the same as what you want to borrow, go to your local bank or credit union (The rules at a credit union are not as strict as a bank). They will look up the loan value on it. Based on your credit history and the loan value amount, the loan value is what they will lend you, and the car will be used as collatrel to secure the loan in case you default. Most credit unions use the NADA book value of a car. Have yourself armed with the book value when you go to the bank, so you can show them what you know also.
Can a bank use my vehicle as collateral for someone else's loan?
The bank MAY be pursuaded to consider it if the car has enough value. However, you should be asking yourself why you would place your car at risk for someone who cannot otherwise obtain a loan. Can you afford the risk of losing your car. You would need to sign your car over to the bank. If the borrower defaulted the bank would take your car.
One person car loan and death?
Heirs pay loan or bank takes car.
Will the bank go after your house if you don't pay for your car loan?
no, your car loan is secured by your car, your mortgage by your home
What is a sentence with Loan?
I took a loan from my bank to buy my first car.
What provides a bank with collateral on a car loan?
The car itself
Can you change the name on your car loan so that my daughter can take it over?
It is possible for your daughter to assume responsibility for your car loan, but only with the agreement of the bank that issued the loan; you can discuss this with the bank.
What is the difference between a car loan?
how do interest rate calculated in a car loan finance by chase bank
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
