Can I Trade My Car in During a Lease?

You can trade your leased vehicle to a dealer toward another purchase. At any time during your lease, you may purchase the car from your leasing bank. Using a dealer simplifies the process, as it pays the bank for the car's total purchase price. Consider overall savings or expenses of trading your lease to determine if the option is worthwhile. Amount of Buyout and Trade Value Call your bank or credit union to determine your vehicle's purchase price. The price is often similar to the amount stated as the buyout amount in your contract in...

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Can I Put a Car Under My Name If Another Person Signed the Title?

Car ownership is based on whose name appears on the car title. Each state issues its own titles, so every time a car changes owners or changes states, the owner must obtain a new title. The process of titling a car varies depending on whether the car is new or used, but the two follow the same basic rules for ownership. Used Car The transfer of ownership section of a car title is where a buyer and seller write in their names, addresses, sale price and signatures. The title must be in the seller's name for the seller to be able to fill out...

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Does Your Credit Report Show How Much You Pay on a Car Loan?

As long as your auto loan provider reports to a major credit bureau, your credit report shows how much you pay for your car loan. Your credit report also shows how many payments you've made, the balance left on your loan, and how many times you've paid your loan late, if applicable. Auto Loan Reporting Under most circumstances, your car loan and payment history is reported to the three major credit bureaus. A buy-here-, pay-here lot may not report your loan payments to the credit bureaus. A buy-here, pay-here lot is not a regular auto loan...

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Can an Auto Finance Company Garnish Wages in a Repossession?

If you're having trouble paying your bills, you might be forced to skip the car payment to your auto finance company. Your loan is secured by your vehicle, so once you are delinquent on a payment, the lender has a right to take it in an attempt to satisfy your account balance. In addition, the finance company can garnish your wages even after your car is repossessed and sold. Repossession Many states do not require you to be notified of an impending repossession ahead of time, but collection agents may contact you about the loan before...

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Car Leases & Mileage Penalties

Car leases appeal to a lot of consumers because they come with lower monthly payments than buying, which means you can get into a nicer car for less money. Some leases end happily ever-after, but your car lease could turn into a nightmare fast if you run into mileage issues. All car leases limit the amount of miles you can put on the car, and if you go over that number, the cost of driving can go through the roof fast. Car Leases and Mileage...

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How to Remove a Name From the Title of a Financed Vehicle in Florida

The title of a car is proof of ownership. More than one person can be listed on the title. If you wish to remove someone from a Florida title, whether that person is yourself or a joint owner, you will need to first obtain the title from the financial institution that granted you the car loan. After you receive the title, anyone who wishes to remove themselves from the title can do so with a quick signature and a check-in at the local tax collector's office. Instructions 1 Satisfy the lien. When the car is used as collateral for a car loan,...

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How to Trade In a Toyota Camry Hybrid for a Tahoe

Trading in your Toyota Camry Hybrid for a Tahoe can be complicated, especially if you havent planned the process out. Often the value of the Toyota Camry Hybrid trade-in gets lost in the negotiating process. However, a little research and knowledge can help you get the most for your trade-in and avoid getting lost in the car salesman double talk and juggled figures. And even if you buy a Tahoe Hyrbrid, the fuel efficiency is still subpar, so factor in loss of savings in gas when you decide how much you can afford. Instructions 1 Analyze...

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How Do I Repossess a Vehicle That I Am the Cosigner On?

People who can't qualify for a car loan due to bad credit or no credit history may ask someone with a good credit history to co-sign the loan. Co-signing can be dangerous because the actions of another person can affect your credit history. If the person skips or misses a payment, your credit score can drop. If you co-signed a loan for someone, and she begins to default on the payments, you can take possession of the car as long as your name is on...

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What Is Auto Dealer Financing?

Auto dealer financing occurs when an automobile dealership arranges the financing for a vehicle you purchase. It offers convenience to the customer, as you do not have to go somewhere else to arrange the financing on your purchase. As with any business transaction, you must prepare yourself to get the best possible deal when financing a new vehicle. Background With auto dealer financing, you complete a credit application with the dealership, and it arranges for the financing. While it may look like the dealership sends the credit application...

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The Smart Buyer's Guide to Buying or Leasing a Car

Buying or leasing a vehicle is one of the larger investments you will make. Before you sign any kind of agreement, take some time to do research and become familiar with all of your options. Have all of your car buying or leasing details worked out before you get to the dealership so you get exactly what you want. Rentals Some people feel that a 5- or 10-minute test-drive is not enough to determine if they want to buy or lease a car. Prior...

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How to Pay Off a Car Loan Faster

Securing an auto loan lets people buy a vehicle by making monthly payments. Over the life of the loan, consumers pay hundreds--and even thousands--of dollars in financing costs. Paying off a car loan faster will allow you to save on financing costs and free up extra cash in the future (no car payments). Securing a lower interest rate, refinancing into a shorter loan term and amortizing your loan will help you accomplish this task. Instructions...

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How to Legally Rent a Vehicle to Someone

No longer do you have to let your vehicle sit in a parking spot when you don't need it. Instead, legally rent your vehicle to someone else with the help of a car sharing service. If you still have a loan on your vehicle, your lender probably won't object, according to information on the "Kiplinger" website. Car sharing services insure your vehicle against any damages that may occur while someone else rents it. Instructions 1 Locate a car sharing...

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Can My Car Be Repossessed With No Notice?

Unfortunately, if you fail to pay for your car as stated in the terms of your loan contract, your vehicle can be repossessed at anytime. Other terms may also exist in your contract as reason for repossession, such as failing to carry a full coverage insurance policy. If you have defaulted on your loan, your lender is within its rights to take its car back. Your Contract Read your contract over completely to determine why your vehicle can be repossessed. Many contracts state a late payment as reason to take your car back, but most banks...

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How to Sell a Car Privately in South Carolina

Title transfers in South Carolina require very little action from you as the vehicle seller. While some states require notarized signatures and forms or DMV notification of a sale, the South Carolina DMV requires a properly signed title and bill of sale to complete the transaction. Before selling your car, make sure no liens exist in the lien holder section of the title or that you can provide the original lien release to the buyer, as South Carolina...

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How to Change a Vehicle During a Lease

Changing a vehicle during a lease is a common occurrence, as you may need to swap your current lease for another for a wide range of reasons. Whether you are simply tired of your current leased vehicle or are close to exceeding the maximum allowed mileage in the lease contract, you can change your leased vehicle by completing an early termination at a local dealership. Upon completing an early termination and paying any necessary penalties, you can get into a new lease ahead of schedule. Instructions 1 Contact a dealership that sells the...

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Buying a 1999 Pontiac Grand Prix

The 1999 Pontiac Grand Prix is a four door-sedan with room for five people. The vehicles comes with a standard V6 engine and gets an average of 29 miles per gallon. As of January 2011, automotive.com lists an average retail used price of $4,582 and a resale value starting at $1,817. Purchasing a used 1999 Pontiac Grand Prix is no different from any other used vehicle. You can choose to buy from a used car lot or an individual seller. Instructions 1 Gauge the value of a 1999 Pontiac Grand Prix in your local area with the NADA Guides and...

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End of Car Lease Buy Options

A lease on a new car is your chance to drive a vehicle for several years and, at the end of the lease, decide whether to buy the car or walk away from the lease and start over. As you approach the end of your lease, it's important to consider all of your lease-end buying options so that you make the best decision based on your finances and the condition of your vehicle. Cash Buyout One of the simplest ways to buy a vehicle at the end of a lease is to pay the buyout price, which is noted in the original lease agreement you signed, and keep...

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About the Kelley Blue Book Value on Used Cars

You may be interested in buying a used car because you think new cars are overpriced. Yet the fair prices for used cars can be tough to sort out if you rely on a Kelley Blue Book guide to check car values. Kelley price guides are used throughout the auto industry to cite car values, but consumers need to dig a little deeper to determine reasonable purchase prices for used cars. Dealer's Guide There is more than one Kelley Blue Book price...

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How Do I Calculate Car Loan Financing on My Calculator?

Unless you have enough money to pay for a car in full, you will need to get a car loan with monthly payments. Although a lender will tell you what the loan's monthly payments are before you sign the documents, you can calculate them yourself on a basic calculator. This helps you test different loan amounts, interest rates and loan terms to find the monthly payment that best fits your budget. Instructions 1 Multiply the number of years in the loan term by 12 to find how many monthly payments the car loan will have. For example, if you are...

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Steps to Sell a Used Car

When you start thinking about replacing your vehicle, you need to not only think about your new car but also plan how you are going to sell your used car. In general, you can get more money by selling your car to an individual than by selling it to a dealership or trading it in, but this process also requires some time and effort on your part. Prepare the Vehicle Make sure the car looks, sounds and drives its best. Wash and wax your car, clean items out of it, vacuum the interior and remove any stains it may have. Get the oil changed, add...

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Financing for a Used Car for People With Bad Credit

When financing a used car, your credit rating makes a difference. An excellent credit rating is any number in excess of 750, good credit is between 660 and 749, fair credit is 620 to 659, and any rating below 620 is considered a poor credit rating. Obtaining financing with bad credit can be a challenge, but some companies will lend to people in this situation. If you have bad credit, be prepared to pay higher interest rates and make a large down...

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Car Leasing Versus Financing

Choosing whether to lease or buy a new vehicle can be a daunting decision as there are benefits to either approach. In order to make an educated decision regarding a new car purchase or lease, you must know the pros and cons of each approach and your own current financial position. Significance Buying a vehicle involves the use of financing to purchase the vehicle and payment is rendered to the finance company usually on a monthly basis. When the loan is paid off, you own the car and no longer have any obligation to the bank or financial...

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How to Save for a Car Down Payment

Lack of cash for a down payment will not necessarily prevent an auto loan approval. However, a down payment on your next car purchase can help avoid an upside down loan situation (eventually owing more than the car's worth) and will lower your monthly payment. Edmunds.com recommends a 20 percent down payment. This is the equivalent of $4,000 on a $20,000 vehicle. Saving this amount can seem overwhelming. But with careful planning and sacrifice, you can acquire enough for a down payment on your next car. Instructions 1 Research cars and pick...

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How to Sell a Car in Virginia

Selling a used car is often a complicated procedure. Not only does the seller have to go through the trouble of finding a buyer -- which will generally involve listing the car, showing it to prospective buyers, and answering a slew of questions -- but, once he has found someone to purchase the car, he has to fill out the required paperwork. Fortunately, in the state of Virginia, the paperwork required to sell a car is fairly minimal. Those seeking to sell their vehicle need only a few basic pieces of paper. Instructions 1 Fill out a bill...

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How to Calculate Online Car Loans With a Bad Credit History

Many people need cars to get to and from work and school, regardless of their credit score. Being a savvy car buyer can help you save money by having an idea of how much your monthly payments will be based upon your potential interest rate, down payment and/or trade-in value of your vehicle. Fortunately, there are online resources where you can calculate possible car loans based upon your credit score and history. Instructions 1 Research the type of car you're looking to purchase. Being approved for a car loan may have requirements such...

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Can Lien Holders Repossess Your Vehicle?

When a vehicle owner uses a car to secure a loan, as is typical in a vehicle financing arrangement, the owner authorizes the lender to establish a lien on the vehicle and repossess the car in certain situations. If those situations arise, the lien holder need take only a few steps to legally repossess the vehicle. Legality According to the official website of the Scottsdale (Arizona) Police Department, any entity with a valid lien against...

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