One individual can have more than one car loan at the same time. This person has made two loans for a total of $8,000 each. How many cars will this person be able to purchase?
Is it smart to pay off car early?
If you have the money to pay off your car early, then yes. It is always a good idea to pay off your debt before it becomes too high and you start getting charged interest.
Can I transfer a car loan to someone else?
You cannot transfer a car loan to someone else. The only way you can get out of the contract is if the vehicle is paid off in full and you have no other outstanding payments on it.
How many cars can you have on an insurance policy?
The number of cars you can have on your insurance policy is dependent on the type of insurance that you are purchasing. If you are looking for car insurance, then the number of cars you can have on your policy depends on what company you are buying from.
Can you go to jail for selling a car on finance?
Yes, you can go to jail for selling a car on finance. This is because the law states that if you sell a vehicle on finance, then you are legally required to provide the buyer with a written contract outlining all of the terms and conditions of the sale. If you do not provide this document, then it is considered fraud.
Can I trade in my financed car for a cheaper one?
No, because financing is a contract between the lender and the borrower. The lender agrees to lend you money in exchange for interest on your loan. This means that if you want to trade in your financed car for a cheaper one, you will have to pay back the difference of what you owe with interest.
Can you combine a car loan and personal loan?
If you are asking if it is possible to combine a car loan and personal loan, then the answer is yes. However, this would be considered a high risk decision because of the risk that both loans could not be paid off without going into debt.
How can I take my name off a car loan?
The best way to take your name off a car loan is to contact the company that issued the loan. They should be able to help you remove your name from the loan and get it back into your name.
Can I sell my car while still making payments?
Yes, you can sell your car and still make payments on it. You will just need to find a buyer for the car that is willing to pay more than what you owe on it.
Is it cheaper to have two drivers on car insurance?
It is cheaper to have two drivers on car insurance.
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Who gets the credit on a co signed loan?
The person who signed the loan.
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Do you get a better rate with a cosigner?
If you have a cosigner, they can help you get a better rate. However, the rates are not guaranteed and there is no guarantee that your credit card will be approved.
Can I use my husband’s income for a loan?
Unfortunately, you cannot use your husbands income as collateral for a loan. This is due to the fact that you are not legally married and therefore not considered one entity.
Should both spouses be on a car loan?
It depends on the situation. If you are looking for a loan that will help you save money, then yes, both spouses should be on the same car loan. However, if you are looking for a loan to purchase a new car, then it is best to have only one spouse on the loan.
Is it smart to pay off car early?
The answer to this question is not a simple one. There are many factors that go into determining whether or not its smart to pay off your car early, including the type of loan you have, how much money you owe on the loan, and what interest rates are available.
Can I finance a car and put it in my wife name?
Unfortunately, you cant finance a car and put it in your wifes name. This is due to the fact that most lenders require that the person who would be financing the car has a co-signer on their loan.
Can my wife take over my car loan?
No, your wife cannot take over your car loan. This is because the lender has to approve of the transfer and they are not going to approve a loan for someone who does not have good credit.
