what are the chances of getting a home loan if had a car reposessed?
140048
Depends on how long it was ago and how your other credit obligations have been paid. Do you have any other negative things on your credit report?If you have several credit cards that have been opened a long time and always paid on time you might be okay. But my guess is that you are going to need an excellent credit co-signer.
1029566
join a local credit union and see what they can do for you.  i had a 18,000 loan on a van for 5 years and after 1 year of payments, they were willing to re-finance it for another 5 years at the original rate.  due to the 1 year of equity, my payment would have dropped to somewhere around the 200 area.  but, i chose to refinance for just 4 years so i could get a lower rate.  either way, join your local credit union.
666490
I am a banker, and without security, you will not get a loan. \n\nJust a bit more information, the highest risk is the restaurant industry, because it is a very fickle business, high turnover and lots of possibilty of pilferage (theft) from employees. \n\nThe equipment has a very low resale value, less than 60 cents on the dollar to re-sell.  Which is why lots of liquidators have old restaurant equipment & supplies for sale. \n\nAt the minimum, you will need to guarantee your loan, which means your net worth (assets) must exceed your borrowing.\n\nIn the restaurant industry, your labour costs (to pay employees is the highest expense).  You need to look at their whole business report, including their balance sheet to see the net income of the company. (what is left over, after all expenses have been paid).  \n\nGood luck to you.
127669
I have a question?  Are you talking about mortgages or cars or what?
295073
Who is your vehicle financed with now? If you have been making on time payments to them, then you do have some good credit. I would try asking your current lender if you can re-fi. If not, try e-loan.com, I have a loan with them and have refinanced once with the same lender.
913111
Bad situation...maybe you get a loan from a bank or a lending company.
208907
You should contact whoever has your loan and work it out. Maybe they'll let you pay it in installments so you can catch up.  Don't ignore it or it may go into collection and your car might get repossesed.
1058348
Financially speaking, a house will usually appreciate in value.  Of course, beachfront property is always hard on the wallet for upkeep, but then a car requires insurance gas and repairs too. A car, especially in the luxury range, will usually depreciate greatly over the first several years.  \nFor example a 2003 Mercedes 500 SL was almost 90 k when new.  Now it is worth around 60 K.  I suppose that if you have the money that's OK, but to me, it's like burning a few 100 dollar bills every week.\nOn the other hand, hurricane season is coming and it is supposed to be hard on the east coast.  Insurance will probably cost you a bundle, but at least you won't be getting any speeding tickets.
984325
If you own a car or boat or piece of valuable jewelry take it to a pawn shop for a collateral loan. Honestly, before I would do that, I'd go to a friend or relative and offer them collateral for a loan if they are available.\n\nBest wishes,\n\npup
60179
I would say refinance,(try seeing if your personal bank will take over the note)because it is alot easier, and the car market isn't as soft as it used to be (a soft market means low interest rates due to high production and people buying cars. We are currently in an economic rescession, so things have gotten tougher, or a 'hard market')so your probablility with getting an interest rate that is not much different or worse is higher that what I would want to risk. Also, speak to your personal banker. you may be able (if you have any) to pull some equity out of your car and use it to pay off more on your credit if that is high on your priority list. Good luck.
717902
Well, that all depends on whether or not the bank that repo'd the car was able to collect the total outstanding balance after selling the car. If not, you have an outstanding debt still on your credit, and it will be there indefinitely, despite what some people may tell you. Yeah, it technically will come off after 7 years, but if you ever go to get a mortgage or other large loan, they're going to see that you have that still outstanding. Good luck getting a bank to look the other way on something like that...
272987
What specifically are you looking for?\n\nAs long as the creditor went to court and got a writ to repo your car, there isn't much more you can do.
795831
look around for these car lots that say we finance right here right now..\na lot do this,\nbut you may get a better rate as long as your credit is good, but tell them you just want to fiance through them,\nor go to a CREDIT UNION not a bank and talk to them for a car loan, they usually only require you open a bank account with them and this way it can even be taken right out of your check if you want it to. this makes it much better for them to give you the loan\n\ngood luck\nsmile
935197
You really can't. If you give the car back, it will be a voluntary repossession on your credit, which is about as bad a regular repo. It will stay on your credit for seven years.\n\nWhy don't you refinance it and get a lower monthly payment? You can do a online search for auto refinance. There are a good many companies that will refinance a newer model car.
806600
Check the loan to see if it has a pre-payment penalty clause in it.  If it does, I'd take the extra payment and put it in an interest bearing savings account created specifically for your car loan.  After 4 or 5 years, you should be able to make payments using just your special savings account.\n\nIf your car loan doesn't have a pre-payment penalty clause, I'd just go ahead and pay additional each month towards your car loan.
205462
Because if you default on the loan, the bank knows where the home is and could take it back. Harder to do for a vehicle. And the Vehicle will lose value faster, so if it is taken back the seller would not be able to recover their loss as easily.
614371
A general rule of thumb when considering a car loan refinance is if your car loan APR is higher than what is being offered in today's market. Even a 1 percent difference in your current APR can save you money. How long you plan on keeping the vehicle can also enter into your decision. If you are planning on keeping the vehicle for several more years, then refinancing may well be worth it.\n\nThe market today offers car loans at lower rates. You can search for current car loans through Bankrate.com's auto loan search engine. \n\nhttp://www.bankrate.com/brm/rate/auto_home.asp\n\nShop thoroughly -- you're switching from a new-car loan to a used-car loan, and used-car loans usually carry a higher percentage rate.\n\nThe earlier in a loan a person can refinance, the more money will be saved. Even though you have paid off half off your loan, you should still research what rates are available. However, $7,500 is approximately the lowest limit that most auto refinancing agencies will consider.\n\nWhen you apply for your new loan, make sure you give the same names with the exact spelling as they appear on your current auto loan. Also provide the 17-digit vehicle identification number. You can find this number on your car dashboard and on your registration papers. This has a lot of numbers, but it has to be accurate.\n\nOne other matter. You cannot take out a loan for more than what the vehicle is currently worth. Look up the value of your car to see if it is worth more than what you owe on it.\n\nThe only costs associated with refinancing your car loan are the transfer of lien holder fees and state re-registration fees. Also, you need to make sure that your existing loan does not have a prepayment penalty clause.\n\nAs with any contractual agreement, read the fine print. You must know the details of your current loan and the one you are considering.