the advantages are that you don't have to pay payments, you can do what ever you want with it, you don't have to worry about paying for rent, for a taxi, or a bus.
No. In my experience and from what I've read, it is not wise to lease a car from someone with a loan. They can still be held responsible for the car if anything happens to it. If you cannot afford to make the payments and the bank comes to collect the car, and the owner does not have it, they can be arrested.
YES! Do not release the title of the vehicle until it is COMPLETELY paid off. Once they hold the title, they can stop paying and there is nothing you can do... legally.
You can clear bad credit for good buy paying rent or car payments on time. You need to do this consistently for a few months to insure the clearing of bad credit.
If a car dealership has a lean on your car and you have not made the required payments they may repossess your car.
No payments?? NO Hiding the car AND not paying?? Possible but NOT likely. NO, it is a CIVIL matter, not a CRIMINAL offense.
If your paying for the car, they cannot!
No you cannot be arrested for stopping paymentsto any car dealer, they can and will come get the car, however.
I would insure any car that I was driving or making payments on. If you are on the title then you are an owner.
No, once the car is repossed by the seller, you will not be arrested but the company will often resale the car at auction and can sue you for the remainder of what you owe including interest.
If the co signers credit is going to be affected because of the lack of payments from the payee, and if the co signer is paying for the payments, then yes the car can be given over to the co signer, especially if the payee is not paying for the car that was agreed upon. check with the finance companies, and your local state, county laws.
There is a punishment for not paying child support in Georgia. Typically, the authorities will take away the drivers license of the person who is not paying their child support payments. If the person continues not to pay, they will be arrested.
No. But, the vehicle will become a repossession if payments are not made.
Yes you could be arrested for not paying your apartment debt.
A car amortization calculator lets you compare payment options, like bi-monthly, monthly, or bi-weekly payments. It could help you organize your payments and facilitate paying off your car.
To pay off debt yes, to make monthly payments no.