Auto Loan Contracts

This is a discussion on Auto Loan Contracts within the Consumer Law Questions forums, part of the Legal Questions & Answers Forum category; When buying a car and getting it financed through a financial institution, you are under obligations to pay that financial institution back. For the most part, I feel that I ...

Results 1 to 2 of 2
  1. #1
    Junior Member
    Points: 275, Level: 5
    Level completed: 50%, Points required for next Level: 25
    Overall activity: 0%
    Achievements:
    3 months registered250 Experience Points

    Auto Loan Contracts

    When buying a car and getting it financed through a financial institution, you are under obligations to pay that financial
    institution back. For the most part, I feel that I understand all of the fine print and general idea of borrowing money from either a small bank or a bigger institution. If payments are made, but at times may be continuously later than the due
    date, is it possible for a financial institution to refuse to continue the loan and repossess the vehicle in question?


  2. #2
    Administrator
    Points: 110,886, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 93.0%
    Achievements:
    Created Blog entryOverdriveTagger First Class50000 Experience PointsVeteran

    Yes the financial institution may repossess the car if you do not make payments, or are late with your payments in certain cases.
    Legal Disclaimer: Answers to questions on this forum are for informational and educational purposes only and do not constitute Legal Advice. No attorney-client relationship is established through this forum.