Sentences with phrase «case of car loan»

In the case of a car loan, if you miss a payment, the bank could repossess the vehicle without notice.

Good examples of these are car in the case of car loan and house in the case of mortgage loan.

Not exact matches

(Unlike the homes and vehicles that are financed by mortgages and car loans that can be taken by the bank in case of default).

In the case of vehicle title loans, the collateral is your car.

Perhaps you could put them in the context of the loans other US car manufacturers received (and in some cases never paid back) in the US Auto Bail out?

A title loan, also known as a title pawn, is a type of secure loan where a lender puts a lien on a borrower's property, their car in this case, in exchange for an amount to be loaned.

While your exemptions allow you to keep property even in a chapter 7 case, your exemptions do not effect the right of a mortgage holder or car loan creditor to take the property to cover the debt if you are behind or do not make future payments.

In most cases, all you need is a clean car title, although, for larger loans, you may also need to show proof of full coverage car insurance.

Less documentation and security check is one of the major reasons why car title loans are very popular in case of emergency.

You should have collision coverage if you have a new car that is expensive, you have a loan on a car, or you can not afford to repair the vehicle in the case of an accident.

And just in case you're wondering some examples of consumer debt would be credit card debt, furniture loans, car loans, and any other type of «non-essential» debt.

Secured loans, like mortgages, auto loans or payday loans require some form of collateral (property, like a house, car or other item) in case you go into default and the lender needs something of value to compensate for the loss.

This means that in the case of defaulters, the car is repossessed and sold to offset the loan amount and accrued interest.

You might want to apply for a secured loan from your financial institution, secured by the money you have on deposit or in the case of an auto loan, the car itself.

Thus, in case the new car loan rates are out of the reach of your budget at present, don't panic, as they will decrease soon.

It is important to understand, however, that securing your loan with your personal assets besides the car you are purchasing is an additional risk in case of default, as lender may repossess your assets to cover the losses from your default.

In theory, a debt crisis isn't possible unless a significant proportion of loans are underwater: the loan balance exceeds the underlying asset's value, in this case the value of the car financed.

Some banks will loan up to 100 percent of the car's value — maybe more — and others lend slightly less, requiring a downpayment on the vehicle in most cases.

In either case, you need to borrow a total of $ 24,000 from the lender, which means you need an LTV of at least 120 percent — the true market value of the car is less than the value of the loan.

A chapter 13 case may be advantageous in that the debtor is allowed to get caught up on mortgages or car loans without the threat of foreclosure or repossession, and is allowed to keep both exempt and nonexempt property.

There's the likelihood of another car payment, and since the client has filed a bankruptcy case, the car will probably not be a newer model, and the interest rate for the car loan is going to be higher than one would like.

Another feature of chapter 13 is the ability, in some cases, of being able to «rewrite» car loans.

And since filing a bankruptcy case, or filing to sign a reaffirmation agreement following the filing of a bankruptcy case is not grounds for a mortgage lender to start a foreclosure, the non-signing client really doesn't face the same risks that a non-signing client does with a car loan.

In the case of a financed car, the loan holder (the bank or the finance company) typically requires the vehicle owner to purchase collision and comprehensive coverage.

There are three kinds of creditors in bankruptcy cases: secured creditors (typically home mortgages and car loans), priority creditors (typically tax and child support and maintenance obligations) and general unsecured creditors (credit cards, medical bills, etc.).

Before you start panicking, try and remember what your car insurance coverage entails; insurance coverage will be a substantial deciding factor in determining what will happen in your accident case, and the future payments of your loan.

In a Chapter 7 case, the most common type of personal bankruptcy, the court doesn't allow an individual to keep their assets, but most exemptions allowed under state and federal law are large enough to cover a secured debt such as a house mortgage a car loan.

Instead, they are based on the value of your car which means that, in many cases, the value of the loan will be high enough to cover your expenses until you can get back on your feet.

Even in the best case scenario of reinstating your loan, you'll need to have the means to make regular payments and maintain the car.

The same information is collected by the lender, except that, in the case of a used car loan, details about the age, mileage, and condition of the car are also required.

Such collateral could include a home in the case of a mortgage loan, or perhaps a car in the case of an auto loan.

This is especially so in the case of mortgages and car loans.

In case of HDFC bank the age of the car at loan maturity should not cross 10 years subject to maximum loan tenure of 60 months.

The other type, installment credit, is simply a loan to pay for a car, a house, or, in the case of many second mortgages, necessary home repairs.

In the case of mortgages and car loans, the premium over inflation may be relatively modest.

The main concern with insurance re: loans is not liability; it's coverage of the car itself in case it is damaged (so the bank still has some value securing the loan).

Peter: Well I think it's often the case of they're not looking for these extra products but rather after they've bought a car and maybe taken out a loan to help them buy the car, they have these extra products pushed onto them.

Classic cars can have a lot of value in them which makes them prime options, in many cases, for title loans.

This also includes situations wherein the owner has lost his copy of the car title loan, in which case the lender will extend the necessary support in helping him retrieve the documents.

And in cases where the car loan was taken out more than 910 days (2.5 years) prior to filing the chapter 13 case, the debtor has the ability to lower the loan balance to the value of the vehicle.

Car loans in chapter 7 are treated just like home mortgages: The filing of the case protects the chapter 7 debtor from repossession.

This is the case with multiple types of credit, from car loans to credit cards.

If that is the case each car payment would be about $ 325 that's $ 650 of your income in car loans.

Despite whatever your car dealer told you, you need an 84 - month car loan like you need a case of herpes or a broken leg.

In such cases, the situation may rise where the loan amount value will be actually less when compared to the market value of the car based on the condition and the mileage of the car.

Secured loans, like mortgages, auto loans or payday loans require some form of collateral (property, like a house, car or other item) in case you go into default and the lender needs something of value to compensate for the loss.

Another method is to add up the total bills, such as credit cards, mortgages, car payments, loans and funeral costs, while also estimating and anticipating future bills (the need for a new car, tuition for your children, inflation etc.) If the goal is to simply replace an income, as might be the case when both spouses are professionals, the estimate should be based on the annual income multiplied by the number of years of income that you want the life insurance to cover.

«Hence, in case of accidental death of any Home / Car loan borrower on or before July 1,2013, claims may be lodged for the outstanding amount in the loan account subject to the terms and conditions mentioned in Master Policy,» SBI said.

In many cases, the coverage will apply to cars or other vehicles and it will help pay for the cost of paying off the loan if the property is damaged and the current policy does not pay for the full amount of the loan.

You should have collision coverage if you have a new car that is expensive, you have a loan on a car, or you can not afford to repair the vehicle in the case of an accident.