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Do they expect you to pay for the car's remaining balance with a voluntary repo if you turn it in and do not want it back?
Wiki User
∙ 8y ago
The bank doesn't want the car either. It will probably be sold at auction to a dealer for the WHOLESALE price. You will still owe the difference between what you owed and what they get PLUS their expenses.
Banks are in the MONEY biz not the CAR biz. Yes, they will get $$$$ but not enogh, so naturally they want MO MUNY.
Wiki User
∙ 8y ago
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Can a lender make you pay the balance owed on the car if you voluntary give it back?
It would depend on the contract you had
If a car is repossessed from someone at a buy-here-pay-here lot then you take the car and it is given back who is responsible for the balance remaining?
Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.
How do you know how much is on your Nordstrom gift card?
You can call the number listed on the back of the card to find out the remaining balance on the account. Additionally, you can ask an employee of Nordstrom to check the balance for you if you are in the store.
What is the part of the brain that coordinates your muscles so you can walk?
The cerebellum (infratentorial or back of brain) is located at the back of the head. Its function is to coordinate voluntary muscle movements and to maintain posture, balance, and equilibrium.
Do have have to pay a title loan back even if they re-posses the vehicle?
They will try to collect the balance remaining after the sale if any difference left over.
What is your visa gift card worth?
The amount of your gift card should be on the paper the card was attached to. If it was removed, there is a number on the back you can call to get your remaining balance.
If you voluntary turn back in a financed auto and the auto has been in an accident and you had no insurance coverage what are you libel for?
You are liable for everything. Fixing the car, paying for the car (the balance of the contract) and repo fees.
What happens after after a car is repossesed?
Your credit is shot to hell, you have no car, and you probably have to pay the remaining balance of whatever you owe minus the value of the car they took back.
What happens to my credit if I voluntarily give my car back to the bank?
Even if surrendering a vehicle is voluntary, you will still be responsible for the amount owed on the loan after the sale of the vehicle. Most lenders report to the credit bureaus and any unpaid balance will be reported, as will payments made or missed on this balance.
What happens if you let a car go back?
They will sell it at auction for pennies on the dollar and then come after you for the remaining balance. They will often sue you if you have a garnishable job and then garnish your wages if you refuse to pay.
If you can't pay for your vehicle can you voluntarily turn in your vehicle?
Im pretty sure even if you did voluntarily hand it back you'd still have to pay the remaining balance. They won't just tanke back a car and call it good.
What is the meaning of Voluntary provision?
a voluntary provision is an act of giving freely without demanding for pay back, that is wholeheartedly.
