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After you pay off a loan, the title is usually sent to you, and leins are dropped. This will vary from instance to instance though. Ask your loaner.
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∙ 16y ago
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What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What happens if you don't pay off your car title loan?
they take your car
What happens if I don't repay an auto title loan?
You will lose the car if the Auto title loan is not paid. The lapse in repayment can result in reposession of the car.
What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
What happens to balance on car title loan when car is stolen?
Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.
What happens to the car and title if primary person on car loan dies and the secondary person has survived?
The estate has to settle the title. The secondary person can be held responsible for the loan until it is resolved.
What is a title loan?
A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.
What happens if you financed a car and you stopped paying on the loan the loan has been charged off and you still have the car?
I don;t know what you mean by "Charged Off". Unless somehow they have written you off as a deadbeat and forgotten the car, which I doubt, they will come and get the car. They will then sell the car and you will pay the difference in what the car sold for and the balance on the loan. Your credit will be ruined for 7 years.
What is Title loan?
A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.
Do auto cash title loans put a lien against your car?
Auto cash title loans do not put a lien on your car. What happens is you surrender the title to the loan company and they give you cash. If you fail to pay back the loan, they have the title and are now able to legally come and take your vehicle.
Can you take out a loan on a car with no title?
No u have to have a title.
Can you be on title but not on the loan?
car is in wifes and my name, she got a title loan unknowingly from the husband. She defaulted, can they take the car from the husband?
