Table of Contents
What to do if your car breaks down and you still owe on it?
6 days ago
Your Options
- Pay Off The Debt. Paying off the debt will be your best option, so if you have the money sitting in your account to pay off the debt, you should.
- Roll It Into A New Loan.
- Pay Your Loan Off While The Car Sits.
- File For Bankruptcy.
- The Basics On How An Extended Warranty Works.
Can you return a damaged financed car?
Review the auto contract. Depending on the auto dealer, you may be able to return a financed vehicle within a specific time period and cancel the agreement, usually within three days of the purchase. Excessive mileage and damages void a return policy, and the dealership will not accept the car.
How can I get rid of my car loan without penalty?
How to Get Out of a Car Loan
- Good option: Pay off the car loan to free up monthly cash.
- Fair option: Sell the car and pay off the loan with proceeds.
- Fair option: Refinance your current loan with a new one.
- Mediocre option: Voluntary repossession.
- Bad option: Default on the loan.
- Last resort: Bankruptcy.
Can I return a bad used car to the dealer?
If you are driving around thinking “my car dealer sold me a bad used car” then you may have a case against your dealership. Many people believe that a used lemon is a crappy car that they are stuck with, but that is not true. In most states, there are good laws that protect consumers and make it possible to return a defective car.
What is the return policy on a car loan?
Once you sign the contract on your car loan, it’s yours – return policies on vehicle sales are extremely rare. In fact, they’re practically nonexistent. If buyer’s remorse has you racing back to the dealership less than 24 hours after striking a financing deal, you’ll find very little can be done to help this.
What happens if you have buyer’s remorse after buying a car?
If buyer’s remorse has you racing back to the dealership less than 24 hours after striking a financing deal, you’ll find very little can be done to help this. The fact that there’s no return policy on vehicles isn’t in place to punish unsure buyers.
Can a used car dealer buy back a car that has a lemon?
By definition, a used car dealer that sells a lemon is required to buy back the car. Consumer laws are very clear about dealer and manufacturer liability for lemons: once a car is declared a lemon it must be refunded and the contract must be canceled.