Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
No, it is not possible. Your previous loan must be completed to get a new 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.
A minor can not get a car loan ithout a parent signing the papers.
Car loan modification is one such option to avoid repossession of your car. So what happens here.... the service provider(loan modifier) studies your loan history and they directly deal with the lender and they modify your car loan .... meaning they help you in Reducing payments and keep your car, boat, SUV or truck.
Yes, but the bankrupcty applies only to the person filing. The other party would still owe the debt.
If you haven't paid off the car, the bank technically owns it. Therefore you can not sell it.
No, you can't borrow any more $$$$ while you are in bankruptcy. Even on an existing loan. It is against the law.
i have a person who sold me a car under bankrupcty, and i need the title . gow can i tell if its still under or not?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
No, it is not possible. Your previous loan must be completed to get a new car loan
(car loan * APR + car loan) / 12/ amount of years. i think
You can get out of your car loan by selling the car you have. You can also return the car to the finance company.
Until you either "reaffirm" the loan, or until your bankruptcy proceedings are over and you are told by the court to turn the vehicle in...usually 3-6 months. Additionally, to "reaffirm" your car loan commitment, you will have to pay all late payments before the end of the court proceedings...usually in 3 to 6 months. Until that, the creditor may not be able to get your car. Not too technical here, but the creditor can file a "Motion" to take your car and if the judge thinks you won't be able to fulfill your obligation, you lose. try www.nolo.com
personal loan have a higher interest rate than car loans beacause they are unsecured loans . In car loan the loan is used for only purchase car .In a car loan, the loan is only used to buy a car, but you can use it as personal items in a personal loan. Interest rates start at just 8.50 percent for a car loan, but can rise 16 percent based on one's credit score and credit history. Find out more, please click https://www.indialoanservices.in
To get out of a used car loan, pay off the loan or find someone else who will do that.
If you did not buy the car it depends on the creditor. Some will void out the loan, others will not. If they do not void it then you have all the money from the loan... so you can pay the loan in full immediately. I think it is not very good to get a car loan if you didn't buy he car. it is just my opinion!