If my car is repoed do I still have to pay the car finance company? will I still receive collection calls?
Written By: aaren on November 14, 2009
3 Comments
I signed a car for a friend. Now they are unable to make the payments on it. I cannot make payments as I already have a car. I am unable to sell it as I owe more than what it’s worth. If the car is repoed I know that my credit will be effected. But will my car financing company still come after me for the money?
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Tags: car financing, financing company, fixed rate private student loan consolidation, home equity loan lowest rate, money
,, yes you will still owe the money, plus interest, late charges, is why i always tell people it is foolish to let car get repoed, you will still be responsible for the loan. it is not about the car, it is about the loan,, the second the car is off the lot, the dealer got the $,,,, you are responsible for the loan
They may…all depends on whether they believe they can get it from you without spending more than you owe.
yes maybe excellent luck