No its perfectly legal and if you are still making payments on it, that increases values.
Not as long as you continue to make payments on it.
NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.
If you own your car or house and are no longer making payments, should you still have insurance on them? Explain why or why not.
Yes
What happen if i donate my car to my cousin and i sign the title. is that all i have to do?
deferment
Not as long as the payments are current and have remained so.
Go to the bank or finance company and tell them what you are doing. Don't give the seller any money untill you have worked it out with the finance company.
Making Payments After Returning a CarNo, you do not have to make payments HOWEVER.....once they sell the car you still owe the left over balance. Just because you don't have the car anymore DOSEN'T mean you didn't borrow the money #2No you do not have to make payments after returning a car as long as you are ok with having a repossesion on your credit history and as long as your ok with the finance company filing a judgment against you for the amount left owed after the sale of the returned vehicle.
Sure you can, but you're still responsible for paying off the loan to the finance company. If the check will cover the pay-off, give it to the finance company. If it doesn't, give it to them, anyway. It'll reduce your debt by that much.
Depends on what you mean by
it all depends on the contengencys in your finance companies contracts! and all states have different repo laws and these companies pretty much write there own within the laws of the states they do biz in!