Ask Experts Questions for FREE Help !
Ask
    sarad77's Avatar
    sarad77 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 23, 2012, 05:20 PM
    Car question--making payments, but...
    I stated making payments on a car. I paid 1,000 and stillowe 2,000. On the 16th day after I got it, the car blew up (fire, everything.) Do I owe the remaining 2 grand? From a private dealer.
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
    Uber Member
    		  
    #2

    May 23, 2012, 05:23 PM
    Quote Originally Posted by sarad77 View Post
    I stated making payments on a car. I paid 1,000 and stillowe 2,000. On the 16th day after I got it, the car blew up (fire, everything.) Do I owe the remaining 2 grand? from a private dealer.
    Um... YEAH! Obviously you still owe it all. Expect to be sued if you don't pay it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    May 23, 2012, 07:08 PM
    Yes, I assume since there was a loan, you had full coverage insurance. So you turn it over to your insurance company.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    May 23, 2012, 07:35 PM
    And, if the insurance doesn't cover the remaining balance you will owe that.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #5

    May 23, 2012, 07:53 PM
    I agree with these 3 gentlemen but wonder what is a private dealer and who are you paying the money to?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #6

    May 23, 2012, 07:59 PM
    Guess I should not "assume" anything, but I guessed it was either a private person, or a buy here/ pay here dealer.
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
    Uber Member
    		  
    #7

    May 24, 2012, 05:53 AM
    Quote Originally Posted by Fr_Chuck View Post
    Guess I should not "assume" anything, but I guessed it was either a private person, or a buy here/ pay here dealer.
    Likely right... around here they have weekly payments... because to reposess they need to be 4 payments in arrears in VA. These are people that no other place will loan money to because they think they should pay when they feel like it, or if they have enough money left after their other luxuries. They pay far higher rates and prices since so many people think they don't have to maintain the car or don't have to pay if it stops working. And a $3,000 private dealer car... is likely to be a POS. Around here it would be anyway. Anything that passes emissions here is worth $2,500.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can I trade in a car that I am still making payments on. [ 0 Answers ]

I want to know if I can trade in my car that I still owe 15000 so that I can get something less expencive the payments are breaking my back.

I co sign for a car for a friend and think he was making the payments and he was not. [ 9 Answers ]

I co sign for a car for a friend and think he was making the payments and he was not. They could not contact him or serve him the paper they served them on me. When I found this out the company where the car was purchase I asked them could they take my friends name off the car where it could be in...

There are two people on the car title and now she is not making payments. [ 11 Answers ]

What happens on the repo, are we both 1/2 responsible.

Warrant for not making car payments [ 9 Answers ]

In the state of Georgia can they put a warrant out for not making your car payment and how long do they need to wait if they can. How months

Can I take my car back if he's been making payments? [ 5 Answers ]

I live in Canada. I was dating a guy and leased a car for him to drive. The car is in my name, insured in my name, payments are in my name. He has been making payments and as of right now, until I actually see the receipt for the week he said he paid the dealership is in default by one week. He...

View more questions Search