Can I give my car back? How does that work?
I just got a 2014 Nissan Versa. I got it through my credit union, but my grandparents are giving me money to get the 2015 Honda PCX 150 scooter for college. I won't have to make payments on the scooter besides the Insurance. So, I was wondering if I could give the Versa back. How does that work? Will it hurt my credit score? If I can't then that's fine. I'll just hold off on the scooter.
The Nissan can't be sold at the same price you agreed to pay, so it would cost you to get them to take it back. They do not have to, and you could be sued for the difference if you can't get them to agree. But depending on how much you have paid in and put down, they may be willing. You have to talk to them about it.
You can put the car up for sale just by asking someone to take up the payments. If their credit is good, their bank will do the rest. It shouldn't hurt your credit. The only thing lost will be the down payment you had to put down for the Nissan UNLESS you ask for it from the prospected new owners.
You can't just give it back. You can sell it back to the dealer or you can sell it to another dealer. They will pay the loan company directly. They will pay the trade in value of the car. Which may or may not be enough to pay off the loan amount. If it is not enough then you have to fork over the extra cash to pay off the remaining loan amount.
You can get a good idea of what the trade in value of your car is at KBB.com. The loan company that you make your payments to can tell you what the payoff balance of your loan is. It will be difficult to sell the car to anyone other than a dealer, because you do not have clear title to the car. Most people who buy a car want to see clear title before they buy.
Nope
No, you can't "give the car back", there's no right to return a car. Problem is, it is now worth considerably less than when you bought it. Looks like you are going to have a car and a scooter.
No. You can stop paying & ruin your credit & potentially have your paycheck garnished.
You'd take a huge loss. Just use the money from the grandps. To help pay down the loan.
- I just pulled into the parking lot at work and when I got off my van I noticed I had more space to back up so I tried to turn on my van and? It was dead. I checked the ports and everything looked good. The battery is new. What can it be? I have a 2006 Honda Odyssey EXL
- What if I do not pay back my title loan back on my motorcycle because ir was stolen? I got a title loan in the amount of 400.00 for my 2014 Honda Grom motorcycle. I have made three minimum payments of 125.00 but I still owe around 400.00 because of the high intereat. My motorcycle was stolen from my house, it is time for another payment ans the lender is blowing my phone up. They are threatening repossession but if thats all they can do then i'm not gonna pay it becUse i don't even have it right?
- How many miles per gallon does a motorcycle give? Much cheaper than a car? Some idio actually said a while back that a motorcycle doesn't really give that many more miles per gallon than a car! This honda Rebel gives 84 miles per gallon! http://www.motorcycle-usa.com/...l-250.aspx And an msrp of only $4000 makes it a steal! Plus the legendary reliability of a honda!
- 18 months left on lease with Honda can no longer afford it and want to give it back? I have a 2018 civic I'm currently leasing from Honda and can no longer afford the lease and need to give it back. I have 18 months left on the lease but there's no way I can cont to keep making the payments. What type of penalty will I face or what should I expect to happen?