 Where can i get a car loan with low interest? |
I have ok credit and have been approved but the interest is 15%. That seems really high. Is that average? Wheres the best place to get a loan? I live In Indiana if that makes a difference.
A... |
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I joined Answers to try to help people with their issues giving my expert opinion as I am a credit professional by trade.
I have experience in many other areas as well. These ignorant ... |
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| Can her bill collectors garnish her husband's wages? They will have no food money then or clothes and stuff. He didn't do this and he can't handle paying all of it back no matter how ... |
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 What happens now? In court? |
| Some company just called me regarding my Credit Card that I havent made payments to in forever. I think at this point, it was a legal firm, not a collection agency. They said they were going to ... |
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I know I might be being paranoid but about 2 years back I lost my photo driving lisence. I want to check everything is ok (i hope no one is using it for other reasons).
I applied for loans ... |
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 Why didn't they ask credit or debit? |
| I just got a credit card for the first time. I'm 18. I went to subway and I gave them my visa credit card. How come they didn't ask credit or debit? They just swiped it. Is it only for when ... |
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 How many credit cards do you have? |
1. A. None
B. One or two
C. ________ (fill in with about how many you have)
2. Why do you have the number of credit cards that you have?... |
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 Did you know that every time you use your "store card/loyalty card"? |
| They know EXACTLY what you are spending your cash on. This information gets passed on to 3rd parties WITHOUT your permission. This information is priceless to them. And you get back 1penny for every ... |
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 Need a car, 21 year grad student with little credit history, my parents can't help me co-sign, what do I do? |
| I had a new 2009 Jetta that my Dad was financing. I was in a car accident 3 weeks ago and the car was totaled. My dad reapplied for a bank loan for another car and was turned down due to the state of ... |
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| Hello, since I won't be home for the next month, I am going to pay more for my bills all in one check (for this month and the next month). And I was wondering if I need to call every single ... |
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 Is cancelling a credit card after you pay it off bad for your credit? |
| I've paid off a credit card and don't plan on using it any longer. The credit company is sending me mailings about how they are decreasing my credit limit and crap because of "... |
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 HELP!! credit card debt trouble!!? |
| a relative had co-signed on a credit card for me.... the relative found out that i had accidentally gone over the credit limit (and it's a big limit) i haven't talked to the relative yet ... |
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| I used two credit cards which have now decided because I was late on one, that they both would increase my rate to 30%. My balances are extremely high, and I do not know what to do. I have only ... |
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| I have had a checking account for about 4 years now, but I have never used checks. (just depit card) I ordered checks online, but the boxes came seperalty, and I used 2 of the higher numbered ones ... |
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 How do I get my 1000.00 back from a merchant? |
| I ordered a 1500.00 guitar by phone. I said I would put a 100.00 deposit down. I called 3 days later to cancel and the merchant said no way. I later find out that he placed 1000.00 on my credit ... |
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 I need to rebuild my credit!!!? |
| I need to rebuild my credit, but I can not even get a card for people that need to rebuild there credit. Does anyone have any suggestions what I can do to rebuild my credit? I need to get a credit ... |
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Mandy | What Happens if I stop paying on my car loan? |
Back in March, I purchased a car from JD Byrider with 22 % APR...( I know, I know). A week ago, I was in an accident, (a hit and run), so I didnt get any license plate numbers. As a result of the accident, my car was totaled, and now I still owe almost $6,000 on a car that I dont have. I had to buy a new car, but they couldn't get me a loan that high to be able to role over the negative equity. I know if I stop paying, that will bring my credit score down, but with this new car loan, they keep saying it will kind of "even it out". Legally, what can JD Byrider's finance company do to me, because I cant afford 2 car payments. |
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Kaiden
|
If you completely stop paying on your car loan, they'll first repossess whatever is left of your car. From there, if the insurance company is unwilling to pay anything (I'll get back to this part later) you'll still owe the remaining amount (the loan minus whatever is left of the car.) If you still refuse to pay anything, you'll be sent to a collections agency and your credit will be ruined for the next 7 years.
I'm not fully understanding how your car was totaled the the person still drove off. That person's car must have been pretty wrecked too, and I can't see them just driving away after a terrible accident. I'm not saying what you said above isn't the truth-- I'm just curious if there's any other details you could give us? |
|
ygwild
 |
In Australia if you don't pay now you'll REALLY pay later.
They'll take you to court and if you lose you'll have to pay court costs and legals.
And if you still don't pay then you'll have to face the sherriff (Debt collectors for the court). They can simply enter your house and empty it if need be. They'll take enough to cover the $6000 debt plus legals and they're well aware of the market value of different assests.
Following that it will have an impact on your credit rating which will follow you the rest of your life.
Bankruptcy is harder again as it places limitations on how much you can earn for up to 3 yrs |
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Heather B
 |
Alot of dealerships now are doing dealercash....meaning they offer between $500-8000 to the buyer towards the car. So if you still owe 6,000 on the car and can find a dealership that is offering some sort of dealercash for buying a car there you can lower the amount you still owe on the totalled car. So lets say you get $4,000 dealercash, that would leave you rolling over 2,000 into a new loan.
Go to http://www.edmunds.com/incentives/RebateController?step=0 and put in your area code and see what dealerships are offering incentives |
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Mad Jack
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They will bring you to court. You will lose. You will still have to pay. They will garnish your pay. You will have to pay court costs and a lawyer.
It will cost you a lot more in the long run. |
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takkaz23
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u can apply at court to make minimum affordable payments,when that time arrives.that will stop any bad credit rating occuring,but do it before you actually default on your loan...explain your situation to the finance company,,,most would rather come to an arrangement,cause at least that way they eventually get all there money...when you do come to an arragement"stick to it"one missed payment can cause them to default the loan....either way,,,,unless you claim bankruptcy(not recommended)you will pay one way or another,,its sounds like you learned a lesson the hard way....get insured..good luck,,you do have options.. |
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moneymanager
|
ever heard of bicycle?????? |
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Mike C
|
Sorry this has happened to you. They can actually take you to court and sue you. Or should I say that they WILL take you to court and sue you. The judge will rule in their favor also. This happened to my brother a few years back. Just so you will know, you can purchase Gap insurance when you purchase your next vehicle. It only costs me a one time fee of $100 for my bank. This insurance will cover the difference between what you owe and they value of the vehicle. It is a pretty good investment for the money. Especially if you are that far in the negative do to having such a high interest rate. My best advice to you is to keep paying the original loan, because if you don't, you will end up having to pay the court cost plus extra fines and penalties. You can probably get an extension on the original loan if you call them up and ask nicely and explain your situation. Good luck!
EDIT:
Some of the above answerers have stated that your insurance company should pay for the damages. This is not true. Your insurance company will only pay what your vehicle is worth. You have to have Gap insurance if the damage exceeds the loan on the vehicle. That is the way it works in the great state of Florida. |
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MLE
 |
They can sue you and garnish your wages. They will get their money from you some how.
Don't you have car insurance? That should cover the cost of the loan for the totaled car. |
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jag
 |
After a while they will repo the car. They will auction it off for what you owe. If they don't get all that you owed from the auction they will take you to court for the rest. |
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teegs
|
legally they can reclaim any of your belongings to the marketed value of $6000 (or whatever your loan is for)
if you don't pay it you probably won't get a loan ever again....
do you want a house? eventually?
nobody will want to lend you money if you don't pay it off.... and that's for the rest of your life. |
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Bella Rose
|
If you had the car insured which you are compelled to do by law then the insurance would have covered the cost of the loan on the car that you wiped out.
If not, you have broken the law I think!!! This is not legal advice by the way. Next you have to pay the loan. If you don't the loan company can take out a court order against you. They can send a bailiff to collect property from you to the turn of $6,000 if you don't pay up. A bailiff comes to your residence, and delivers the court order, comes in and reposes property to sell for the loan company to get their money. They are entitled to this money plus interest. This applies in New South Wales Australia. If you are in the USA debt collection will be different.
You have signed a contract and must pay up. You also have the new loan on the new car to pay. They can garnishee your wages. This would be a decision of the court. It depends on what the court decides as to which course is taken to repay the loan.
Do you want to end up in court and incur further costs or come to some agreement with your old loan company out of court. You could be declared bankrupt. On the other hand they could reposes your present car if you do not have sufficient assets to cover the old debt of $6,000 other than the new car.
You need to think this through carefully. I would pay the debt. You don't have any other option. You don't appear to have any insurance. I would also seek proper legal advice and organise your finances properly in future. The money spent on legal advice will be well worth it.
I take no responsibility at law for this advice as I am not a lawyer. This is why am telling you to seek legal advice from a lawyer.
Cheers!!! |
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Sex Gun
|
the agent will toll back the car |
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dilia
|
normally the insurance pays for that.
who was responsible for the accident?
If it was you - you have to pay. If not - the other one will. |
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phred01
 |
go bankrupt |
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Ivory R
|
It can really save you hassle to just get an auto loan price on the web to verify what todays rates are. You might be pleasantly suprised. Also if your credit is not so great, a lot of online loaners are more willing to help you.
What I usually tell folks is that an online quote at http://auto.lowratetoday.com is the way to go. |
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