I sealed a automobile for a friend. Now they have been incompetent to have a payments upon it. we cannot have payments as we already have a car. we am incompetent to sell it as we owe some-more than what it’s worth. If a automobile is repoed we know which my credit will be effected. But will my automobile financing association still come after me for a money?
If my automobile is repoed do we still have to compensate a automobile financial company? will we still embrace pick up calls?
3 Responses to “If my automobile is repoed do we still have to compensate a automobile financial company? will we still embrace pick up calls?”
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They may…all depends on whether they believe they can get it from you without spending more than you owe.
,, 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
yes maybe good luck