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No, because, until you get it paid off and hold the title, it's not actually your car, per se - the lawful owner is the lienholder.
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∙ 9y ago
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Can you take a loan against your car?
Can you take a loan against your car if it isn't 100% paid for? I have one more year on Lexus.
When a person died by naturally then what happen car loan?
Until the car is paid for, the company that made the loan still has a financial interest in that car for the amount that is still owed. If that amount is not paid, the holder of the loan has the right to repossess and sell the car. If that does not generate sufficent funds to pay the loan balance, they may make a claim against the estate of the debtor.
Can you finance a car that is paid for?
If it's paid for, there's no need to finance it. Once it is paid for, it is possible to take a loan out against the vehicle as collateral, but then it's no longer paid for at that point.
If a car was paid for and then you took out a title loan against it for twice the vehicle's value can the title loan company repossess it?
Why would they NOT be able to repo a car they purchased the title to? READ your contract.
Do you get the title to your car if you have a loan on it?
No. You don't get the title to your car until any loans against it are paid in full. <><><> In several states, you will get a title document- but it will show the loan company or bank as a lienholder. That title cannot be transferred to someone else until the lien is satisfied (loan paid off)
Can i take a loan against my car that is paid off?
Yes you can. Many credit unions and small banks will offer a secured loan for a vehicle that does not have a lien. Expect to pay higher interest for this type of loan. ----
Can you sell a vehicle if the cosigner refuses to sign off on the loan?
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
Bought a car out of state but loan is with your bank Who receives the title?
The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.
If your car was repossessed and you paid the loan off do you get the title?
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
What do you need to do to get a loan against your car?
A clear title for that car.
Can you take a loan against your car if not paid for?
You can if a lender is willing to loan you the money and the existing loan is not more than 50% of the value of the car. Just make sure the lender is aware of an existing loan against the vehicle. This is a very bad idea IMO. Using a car as collateral for a loan other than to buy the vehicle is a very bad idea. Cars depreciate very quickly so are not good collateral. More than likely no lender will loan you the money on this vehicle.
What is a loan amortization in reference too purchasing a car on credit?
When purchasing a car on credit, a loan is obtained and the loan is paid off over time. For example, a car loan paid off over 5 years, with monthly payments, is considered to amortized over 5 years.
