I know that you have to have good credit and a sufficient amount of income, but as far as for the payments, What are the regulations for paying it back ?
2007-08-18 15:51:15 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You have to get your monthly payment in by the due date. All of those things will be explained when you sign the papers. If you don't understand anything, DON'T sign until all your questions are answered.
2007-08-19 02:20:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
lets say the loan is for a period of 4 years, and the car is worth 20,000. they add up the interest, subtract ur down payment. then come up with a figure, usually like $300/month. and if u cant make ur monthly payments anymore, the bank will reposess the car
2007-08-18 16:04:28 · answer #2 · answered by God's favorite 6 · 0⤊ 0⤋
It's simple. The contract contains all the terms. You make your monthly payments till the loan is paid in full. If you don't make your payments, they repo the car, sell it at auction, and sue you for the balance.
2007-08-18 16:50:54 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
just like any other loan excapt there's a contract said you pass finish pay all the amound withitin how many months, but you can finish pay it off early in some cases it lower interest, i sugest go to nissan dealership, i got a car last month from them, they offered me 0.7 % interest yes that low, my credit score is only like mid 750.
2007-08-18 15:58:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You pay back the agreed upon amount for the specified time frame.
2007-08-18 15:56:34 · answer #5 · answered by mister_galager 5 · 1⤊ 1⤋