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Vehicle: 2002 Hyundai Elantra
Book Value: $9,975
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Does the bank just keep all the money?
How much is a used car worth?
8th June 2011
Is a used car supposed to be priced at Blue Book value? If not, how is it priced?
Can you trade in a car that's still under financing for a used car without having to get a new loan?
20th March 2011
My car is worth about ,300 according to KBB. I want to trade it in for a used car because the payments & insurance are just too much for me these days. Can I trade in the car and walk away with a used car of lesser value without having to get into a new loan?
How can I legally repossess a car from a family member?
1st December 2010
My brother in law was down on his luck, so my husband and I decided to sell him our car that we owned. (We have a clear title). We gave him a great deal on the car and only asked for 00. (Half of what the car was worth). We had an orall agreement that we would not sign over the title until the full balance had been paid. He couldnt afford to pay it all upfront so we agreed on 280 dollars a month for 12 months. He payed regularly (for the most part) for 6 months and then just stopped paying because he said "he couldnt afford to pay for it". My brother in law has not attempted to make any kind of payment on the car for 8 months. I feel like he has taken advantage of my husband and I. To date, he owes 1500 dollars on the car. And I am paying his insurance. How do I legally get the car back? Do I have to return to him what he paid on the car if I take it back? My husband and I constantly fight about this. Please help…… This is ruining my marriage.
What happens in a repossession when the car is worth more than the loan?
8th November 2010
I would like to know what happens if a car is repossessed and sold at auction, if the sale nets more money than the loan’s value. So if for example 00 were owed on a car, and it auctioned for 00, who gets the extra 00?