Saturday, October 31, 2009

What will happen if I don't pay my car loan when I have the Tiitle to the car?

I got a car loan for a car. I told them that I needed the car title to get the tags. They gave me the title and I got the tag but they never asked for the title back. Now I have the title, and I'm just wondering what will happen when if I don't pay.



What will happen if I don't pay my car loan when I have the Tiitle to the car?

They can repossess the car since the loan has not been paid off and your credit will be ruined. Physical possession of the title does not release you from payment. The title should have their name as owner or lien holder.



Dealers lost my paperwork twice when buying new cars. They had not cashed my deposit or sent the information to DMV or bank. I called because I did not receive the certificate of title when the temporary tag was expiring a month later.



What will happen if I don't pay my car loan when I have the Tiitle to the car?

I don't know why you'd need the title to get plates, and don't even want to guess what idiot at the bank gave you the title.



However, their lien is still valid and they can repossess the car if they wish. They can always get a duplicate title.



What will happen if I don't pay my car loan when I have the Tiitle to the car?

You'll see a tow truck with your car behind it.



What will happen if I don't pay my car loan when I have the Tiitle to the car?

Check the title. You should be able to see someone (the %26quot;they%26quot; you mention in your note) as being a lienholder. The fact that you have a title, doesn't mean you own the car free-and-clear, and would be limiteed if you tried to sell or trade the car. If you don't pay the loan, they can seize the car. They COULD then sell it and even if they don't get the total value of the outstanding loan, you STILL owe them the rest.



What will happen if I don't pay my car loan when I have the Tiitle to the car?

It doesnt matter who phisically has the title, what matters is the name on the title. If you financed a car, the car isnt in your name till you pay the loan off. The owner of the car is still Honda Financing Corp (used that just because i have a car loan through honda) They can come and take the car because of non-payment



What will happen if I don't pay my car loan when I have the Tiitle to the car?

I'm sure that the title, whoever has it, shows that the loan company is named as the leinholder. Don't make the payments and someday you'll come outside to find your car has been repossessed. Either way, the finance company will not sign off on the title when you try to sell the car so the buyer will not be able to register it. Oh, and by the way. Don't ever ask me for a loan if you have questions about having to pay it back. How about thinking about what's right rather than what you can get away with?



What will happen if I don't pay my car loan when I have the Tiitle to the car?

Even if you do have a title that does not relieve you of the responsibility of paying your loan payments.



Miss a few and watch for the repo man.

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