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only if the loan is not satisfied. Sometimes you owe more than what your car is worth. Insurance company's only pay what the value is minus the deductible. This may leave a deficiency balance that has to be paid by you. If you don't pay the balance you will be in default of your loan.
What else can I help you with?
Does trading in a car affect your credit?
Trading in a car does not affect your credit unless you sign a new car loan and get a new car. This may negatively or positively effect your credit.
How does cosigning for a car loan affect your credit?
No.
How do car payments affect credit score?
Car payments can affect credit scores positively if they are made on time and in full, showing responsible borrowing behavior. However, missing payments or defaulting on a car loan can lower a credit score significantly.
You bought a car for your fiance and now the wedding is off you need to get rid of the car Can you return the car to the dealer And how will this affect your credit?
In general, you cannot return a car to a dealer. You can sell it back to them, though. Selling it won't affect your credit.
How bad does a car repossession affect your credit report?
A Lot.
How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?
It has the same effect on the credit.
How does credit affect an individual financial standing?
Your credit can raise or lower your credit score. It is what consumer credit for buying a house or car is based on.
How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
How does trading in a car affect your credit score?
Trading in a car typically does not directly impact your credit score. However, if you are trading in a car to get a new loan for a different vehicle, the new loan could affect your credit score depending on factors like the loan amount, interest rate, and payment history.
What types of behaviors affect your credit score positively?
dude wheres my car
Does having bad credit affect your APR for a new car or home?
Bad credit will affect your APR on any new loan. Most banks use a tiered credit system to determine APR.
How does trading in your car affect your credit score?
Trading in your car can affect your credit score in a few ways. When you trade in your car, the dealership will typically pay off the remaining balance of your loan. If you owe more than the car is worth, this could negatively impact your credit score. Additionally, taking on a new loan for a different car could also impact your credit score depending on factors like the loan amount and your payment history.
