What are the consequences if a car is bought on finance and then the owna decides he/she doesnt want it n mor?

Stop paying the payments, they will come to re-possess the car, your credit score will be in dire straits.


Spell checkWhat are the consequences if a car is bought on finance and then the owna decides he/she doesnt want it n mor?
someone still has to pay for it ,either that or let it go back and ruin their credit,these days credit is too important to mess up over a car loan,there is always the option of selling it,or getting someone to take over the payments on it that would save their credit,anything beats letting one go back and getting a bad credit mark over it,good luck.What are the consequences if a car is bought on finance and then the owna decides he/she doesnt want it n mor?
You can do whatever you want with the car, but you owe the note.





If you sell the car for less than you owe, you will owe the balance. In finance terms, this is called being ';upside-down'; on your loan.





You could use your car as a trade in and roll the rest of the amount you owe into the price of a new vehicle, but that's going to be a very expensive option if you buy a more expensive car.





Regardless- you made the choice, and you're pretty much stuck with it. I would pay the loan off as quickly as possible so that you can get a new car. Aside from that, it's going to end up costing you more money.





Next time, make sure it's the car you want.
Most states have a 3 day return policy... But anything over this you are obligated to pay.....Although some dealer will allow you to a trade in you need to call them and ask


You are legally bound to pay for this purchase.