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What percent of cars are paid off?

What percent of cars are paid off?32.647% of cars in Canada are actually paid off.

Can they repossess your car if you’ve paid for 70 percent of it?

The reaction depends on the laws in your state. .
In some states if you don’t pay, you lose it. .
In Mississippi, after the bank sells it, they cannot make aprofit. They have to send you what’s left. .
Not ALL lenders have to comeback the overage. Some only have toreturn 85%. .
Yes, they can still repossess your car, but in most states, ifyou have paid over 65% of the balance of the loan and the originalbalance was under $Five,400.00, they can’t sue you for the deficencybalance. Most finance companies, if the vehicle is of any value,will repossess it and resell it to recover any losses they mayhave.

If a car was repossessed and the loan was instantaneously paid off how do you get the repossession off of your credit report?

Getting it off SHOULD have been part of the deal when you paid it off. that’s when you had the most leverage with the lender who put it on there. Now…. contact an attorney buy your chances are slender. The repo was a fact, not an error that can be corrected. Good Luck

What happens if you unknowingly bought a car that had a loan on it and the loan is not paid off can they repossess the car?

Reaction .
YES, they can. The person who sold the car can be charged with selling mortaged property(felony in most states).You will be out your money. best to take the car back to the seller and getyour money back while you have a chance..

Can your car be repossessed when you have paid off the loan but have not received the title?

Reaction .
Most states have a law that requires that the title be sent within Trio, Ten or 30 days of final payment being made. The law usually doesn’t have much in the way of teeth, so you may need to remind the lending institution that the loan has been paid and that you want the title. After you have requested the title the lending institution may be in default and you may have recourse, depending again on your state and the laws that regulate title loans.

If you get in a crash and you have PLPD and the crash is not your fault does your car get paid off?

Response .
No, you will only be paid the value of the vehicle. If you are “upside-down” in the loan you will be out the difference inbetween what the vehicle is worth and the loan payoff. If you owe LESS than the vehicle is worth, you will get a little in your pocket when the deal is done.

Can you sell your car before the loan is paid off?

Yes. Be sure the buyer knows that the title is not free and clear. When they pay you, pay off the loan, wait for the title, and sign it over to the buyer. Don’t arm over the keys until they have the title. You can give them a bill of sale as a receipt that they paid, but that is all they get until the title arrives. You are liable for their injury if they get into an accident before you sign the title over to them. You will have to pay off the loan or have the loan assumed. You wont be able to sign over the title since the loan company holds it until you have paid off the loan. If the loan was a individual loan you have the right to sell the vehicle whenever you like however you will still need to make payments or lodge the outstanding balance. If the loan was secured against the vehicle you will nedd to arrange with the finance company to lodge the balance before tittle is transferred over.

If a car is repossessed does the loan still have to be paid off?

Yes. The car will be sold at a public auction and the borrowers will be responsible for any difference inbetween the selling price and the loan balance plus the allowable repossession and other fees. The lender is legally required to make a reasonable attempt to get the fair market value of the vehicle, unluckily this does not always happen and that sometimes leaves the borrowers with a substantial amount of debt to repay.

If your car was repossessed and you paid the loan off do you get the title?

Reaction .
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.

How do I get a fresh title on a car that has a previous lien paid off?

Reaction .
You don’t need a fresh title. You just need a Lien Release. Contact the lender and ask for a lien release, and keep it with the title.

Can a person be sued if the cosigner for your car paid the car off without your skill then told you after it was paid off?

Response .
Muddled question…who is “the person”? If you mean if your co-signer paid the loan (very likely when you failed to do so as you were supposed to)….which is what the cosigner should do..indeed must do by law… and truly why it was required for you to have a cosigner — (because it was thought you might not honor your agreement and someone responsible was needed)….as the cosigner had to act on your behalf because of your failure to do what you promised to everyone when taking the loan…(for whatever reason you think you have…but who cares), sure they can sue you…and will more than likely win….with any extra costs they incur for having to sue you to recover their outlay in doing what they had to do, most likely I’ll bet because YOU ASKED them to be your so-signer! And if the co-signer, or anyone, paid off your loan for any reason..why do you think you wouldn’t owe them? YOU BENEFITED.

How do you report a paid off car loan if company did not report?

Reaction .

Related video:

You need to obtain a copy of the letter stating that the loan id paid in utter and just display that to them. If they are still telling you that nothing was reported pull a copy of your credit report to be on the safe side. If nothing’s on your credit credit and it is still holding you back from getting something else that requires your credit to be checked than contact the Credit agency.

Can a car be sold if the loan is not paid off?

You can sell the car but the balance of the loan must be paid at that time. At the time of the sale when you know you will be receiving funds, call the bank and ask them for a “10-day payoff” this is the amount owed to pay off the loan Ten days from now. Once you sign the title over to the buyer and receive the money, You are obligated to pay off the car at your bank. You want them to get the money within Ten days so you don’t end up owing more than the “Ten day payoff” you requested. Interest accumulates daily so that’s not a big deal anyway. If you do not pay the car off at the bank, when the person attempts to title the car in their name, it will come up as “Lien not pleased” in the states’ database and they will not be able to register the car in their name.

What percent of cars are paid off?

When a car is paid off can you refinance your car again?

The only bank I know of that permits you to do that is DCU which is a Massachusetts bank. So I know it can be done.

How do you trade in a car that’s paid off?

Tell the dealership that you want A car with NO DOWN PAYMENT, And, YOU ARE NOT TRADING YOUR OLD CAR. Get your best deal. Keep that number handy. Then tell them that you are concidering trading your old car. Get them to give you A “REAL TRADE IN QUOTE” This means you want them to tell you exactly what they will buy your car for. All you need to do to trade it in is have the title with you..
Also, Make sure the numbers match, There is nothing that the dealership will add that you have to pay. Don’t fall for gimmicks.

Can you exchange a car bought in a dealership but has not been paid off?

I don’t know of any dealership that would permit that. On the other mitt any dealership will accept a vehicle bought from them for trade in, but I have no doubt that you will lose money on the deal.

How do you trade in a car that is not paid off?

Pay the bill off and sell it or borrow enough on the fresh car to pay off the old car and finance then fresh one. My advice is to not consider trading until you pay off the car you now own. That way you will be in a much better financial condition to purchase another car.

How do you sell a car that is not paid off yet private party?

Contact the company that has the loan for the car to find out the “payoff amount” which will be the amount needed to pay off the rest of the loan. Then talk to them as to the best way to arrange to pay this off. You will need to get them this money, and get them to provide you with the title (or a lien release form, depending on your loan company). At this point you own the car and can sell it to someone else. It is often possible to arrange ahead of time with them to meet the fresh proprietor at a bank and have them write one check to the bank to pay off the car, and another to you for any amount over the amount needed to pay off the car. Then the bank provides them with the title to the car. Contact your loan provider and they can walk you through the process.

If you are in a car accident and the car is totaled does your car loan get paid off through insurance?

Not unless you have the fresh option in insurance of the fresh car replacement. If your car is totaled, you will be paid the Blue Book price for your vehicle. This sum is the amount your vehicle is worth at this time. Any amount over this sum that is still owed to a car loan is still due.

Used cars sold as is paid off can you take it back?

Generally speaking, no, you are very likely stuck with it. That’s what the “as is” clause means. There are exceptions to this, depending on what state you live in, but it’s unlikely you’ll be able to get a refund.

Can i take a loan against my car that is paid off?

Yes you can. .
Many credit unions and petite banks will suggest a secured loan for a vehicle that does not have a lien. Expect to pay higher interest for this type of loan..

Do you get interest paid back from the bank on a car loan that was totaled and paid off early?

No. What happens is that the lender will take your payments and use them to pay off the interest you owe on the loan each month. Any amount left over is used to reduce the principal you owe on the loan. When the loan is paid off in total for whatever reason, the amount that needs to be paid is the principal remaining plus interest for the current month so far. If your car is totaled and paid off three years into the loan, the interest you’ve already paid was to borrow the money for three years. Since youdidborrow the money for those three years, you don’t get any of the interest back.

How do you get a title to a car that was paid off?

my daughter purchased a car and had a hard time getting the title for it until she discovered that running crimson lights at a crimson light camera got tickets sent to the holder listed on the title. After waiting a year for the seller to give her the title( he also would not come back her calls), it only took Three tickets and he was at her door, title in palm.

What if Car is paid off during bankruptcy?

then you get to keep it because its not worth anything to the government anymore

If a car is repossessed does the car loan have to be paid off?

Well, that all depends on who is taking the car and why. If the bank that financed the car has repossessed it, then maybe…maybe not: It all depends on how much the sale of the item brings. The proceeds will not only have to be enough to cover the loan, but the costs incurred to recover, store, and sell the vehicle. Odds are, that given the rate at which cars depreciate; no. I am hesitant whether the lien holder can then go after a deficiency judgment for the amount still owed, but most likely (depends on laws in your state very likely). As to some other entity seizing your car, like in satisfying a judgment…. In Louisiana if the lien holder, or superior creditor, asserts their rights prior to the sale, the sheriff is required to disperse the proceeds very first to them and then to the subsequent creditors. If you owe fairly a lot on the car, the judgment creditor must determine if they think the item will sell for enough money to sate the very first superior lien, the sheriff’s fees, and still get enough to make it worth their while.

Car has been paid off when or who do you talk to about getting it?

Your grammar is incomplete and so are your sentences so it is very difficult or unlikely to reaction your question. My question to you is: If you were paying on a car without having it, it must have been in police impound. Was it in impound? your response will influence my response. If it was in an impound lot, you talk with the party receiving your payments to get it released. If you had the car in use and you want the title after making all the payments, the financial institution you were making the payments to will send you a title that is stamped over the decent section “Paid in Utter”. You take this title you your county title office and they will issue a fresh Title with you listed as the possessor. This can be used for license plates. But again, it is very unusual for someone to make payments without having the car because they depreciate too swift.

What percent of cars are paid off?

How long does it take to get a car title after the car is paid off?

this is stupid, im asking the question, why would i give myself the reaction, this is indeed dumb.

I am filing bankruptcy will they take my car if it’s paid off?

Please consult with an attorney because I am not. That being said: It depends on what chapter you file. If you file a chapter 7 (total liquidation) it is possible, the trustee may want to go after it. The point here is that his job is to recover as much possible money for the creditors as possible. If you have a car that is worth $Ten,000 and he could sell it and get 8K for it; he’s going to sell it. If you have a Junker that is worth $2500, he may not be as interested. There are things called exemptions that also come into play. Typically, you may get to keep your car. IF you file a chapter 13, more than likely you don’t have to worry; as you have a plan to repay your debtors. Keep in mind, I am leaving out all sorts of other chapters (11,12,etc) which involve corporations, farmers, etc. ) Please consult an attorney for advice .

Related video:

What happens to your paid off car after filing bankruptcy?

If your car’s value cannot be exempted, it goes to the trustee to auction off and the net proceeds used to pay his fee and the balance distributed pro rata to the unsecured creditors. The exemptions are determined by state law, which may permit using the federal exemptions. Check with a local bankruptcy lawyer or go to your jurisdiction’s bankruptcy court website.

Can i trade a car with a private seller even tho’ my car is not paid off?

As the proprietor you can sell the car any time you wish as long as you pay off any existing loans. If you sell the car for less than the total loan, you are liable for the difference. Your lender should have a process for individual-to-individual sales. Often this can be done at their location and they will accept the buyers money as payment on the loan and provide you the title (or lien release) so that you can turn it over to the buyer. Check with your lender.

You borrowed 9000 to buy a fresh car you paid 1800 backwhat percent is paid off?

Randy borrowed $9000 to buy a fresh car. So far he has paid $1800 of his loan back. What percent of the loan is paid off?

If your car is paid off can it be taken if your house is foreclosed?

Yes. And any other posession deemed not a basic need as defined by your state, and free of liens.

If you paid off the charged off auto loan can you get the title for the car?

Not necessarily. In this state certain legal work and a bill of sale must be packed out precisely and correctly. You must get legal proof you paid off the loan. Certain taxes must be paid. After you have hopped through all the required legal hoops, then you can get the title. Makeshift tags exist to display you have met all requirements but are waiting for the title.

Does a cosigner have rights to the car even when its paid off?

No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.

Related video:

Can you trade in a car that’s not paid off and not co sign for another car?

If you trade-in a car that Not paid off, you will be trouble with the law.

If your father dies is his car paid off?

If your father dies, any debts he had are passed along with his assets. If he still owed money on his car, his heirs get the carandthe loan balance. There are exceptions, like if insurance provides for payment of an outstanding debt on a loan in the event of death, but these are exceptions to an almost universal idea that all things of value in an estate as well as all outstanding notes and such are transferred down as a package. Think of it this way. If you loaned someone money for a car and that person passed on, you’d still be owed the money or have a “stake” in the car. Any who inherit the “goods” of the deceased will also take on any outstanding debt. You loaned the money for the car. If the person who borrowed the money dies, you still have an outstanding debt with the heirs of the departed. You’d expect to be paid, and law provides for this.

Will a dealership buy a car if it is already paid off and there is no intention to purchase a car from their dealership?

Some will and some wont. Reminisce that car dealers are in the business to make money so don’t expect to get anywhere near what your car is actually worth.

What kind of lien can be placed on car that is paid off?

If you get figure or mechanical work done on the vehicle and do not pay the shop can put a lien on the vehicle until the balance is paid. If it gets to that point it is often with interest and court costs as well. Think of it to be the same as a roofer putting a lien on your house if his bill is not paid in total.

What percent of cars are paid off?

Can your car be repossessed if it is almost paid off?

Yes, when they auction it you will get back money if there is any left after the banks recovery expenses and the money you owe them. That is assuming the car is worth more than what you owe.

Should you trade in your used car that is paid off for a fresh car?

Only if you can afford payments for a fresh car and your used car is in very bad form.

What happens when your loan is not paid off and you still have the car?

You can still have it ,but you will be paying powerfully for it and have no resale value for it.

How long does it take to get a car title after the car is paid off in NC?

That depends on the lean holder. You may need to get a letter stating the loan has been pleased and get a title from DMV yourself. If it was financed through Toyota Finance get the letter because you’ll never get the title.

Can the bank take your car if you have paid it off?

No, because they don’t own it. You do. You might also want to learn to spell.

Can your parents take away your car if you are 16 and it is paid off?

yes. parents are only required to provide you with food, water, shelter and one T-shirt, two footwear and one T-shirt.

What to do about car paid off by mistake by dealer and you have title?

What are you expecting us to say? That you can keep it? You know the right thing to do you greedy dishonest loser

What if the car loan is paid off?

Why is HSBC holding my car title that was used as collateral in 1997 with Beneficial Mortgage of Ohio and the loan was paid off in 1998. Now I just bought a brand fresh car and my 30 day tags are about to expire in Three days. I think somebody screwed up on the paperwork. Because the car was not used as collateral on the loan in 1999.

How can you can a tag without a title if you purchased a car but have not paid it off?

If you are bringing a vehicle into the state of CA that has a lien on it still and you need to get plates and registration to operate vehicle you will need to take the current registration card you have from the state where previously titled & registered into a CA DMV office and tell them you need to apply for a “Golden Rod Registration”. This means that you want to get registration only in CA because the vehicle is titled in another state with a lien holder on it. In addition to the out of state reg card you will need to: 1. Pack out a REG 343 Two. Have the vehicle smogged Trio. Have DMV or a licensed vehicle verifier accomplish a “Verification of Vehicle Four. If the vehicle is a truck or commercial vehicle you will have to get a weight certificate from a certified wiegh master Five. Pack out a DMV statement of facts explaining you are requesting a “Golden Rod Registration” Vehicle Registration Wizards @ [email protected]

Can a paid off car be seized for debt?

In some cases yes. If the vehicle was purchased using the same lender against whom you have defaulted with a different loan, and there is a remaining balance after the repossession of that property, then the court can order a Conversion of Collateral, and the paid off vehicle can be repossessed by that lender. Additionally, if the court chooses, real property can be ordered liquidated to pay a bad debt.

Does gap insurance still apply if your car is paid off?

It will depend on the type of gap insurance you have. Finance gap insurance would expire as there is no finance to cover but comeback to invoice and vehicle replacement would still carry on until the end of the policy or a claim is made.

Can you get a repossed car back after wage garnishment is paid off?

it depends on the terms of the contracts. you just need to go through your paperwork and look through the fine print. or just call and ask, but its all dependent on your contract

Can you trade in a car that isn’t fully paid off?

Yes, you just add the payoff amount of the car you are trading tothe price of the car you are buying.

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