can you cancel a auto loan with no penalties?
930951
It depends on the State and city you live in. And also the firm that holds the loan. Most do charge a fee or penalty to cancel a loan. I would check with the company that holds the loan and get the information. Also read all the fine print on the loan papers, there should be a section that tells you about penalties etc..\nGood Luck.\nKali
629296
if you are getting a personal loan , yes you can use your car as collateral , providing the car is yours and doesn't already have a lien on it ( is paid for )
594405
You can always refinance.  If your current loan has a pre-payment penalty, that may apply however.
711678
The dealer or bank will promise you that it won't go against your credit if you voluntarily turn it in, but he will be lying to you. It affects your credit just the same as an involuntary repossession.
230457
No. You can not be in default on another student loan and expect to get another loan. You will be declined for sure.
177203
Don't do it. You will only get trapped and it takes years to get out of it. Trust me. I have a friend that falled for the easy bait and she is still trying to save herself for that one small loan two years ago.
319385
Yes it is legal.  What typically happens is that you are still on the books for the full purchase of the loan.  If they repo the car, they auction it off and then try to collect on the difference.  The only recourse that you might have is if the auction price was considerably less than the fair market value.  You might be able to do something there.  Other wise, sorry to say..You are stuck.
284213
You have to read the Association  agreement and rules. It would be unusual for it to allow such a large loan without a vote of some sort, but "consensus" may not be needed.\n\nEven if the vote was proper under the rules, there may be state laws or cases holding the association to some kind of standard when contracting for work that is not needed. On the other hand, just because some driveways are OK doesn't mean it's not cheaper to redo them all at one time.
314930
Most at this post are correct as your score will not go up automatically because of your car loan.A few inquiries will not affect your score as well. Too many inquiries will lower your fico score(beacon) as well. A sure fire way to manipulate your fico score would be to make a somewhat large payment at the beginning of this loan. The reason is that more weight is based upon your balance compared to your credit limit on this car loan. So if you borrowed 20k and you owe 20k then your at 100%   not good but if you paid 2k on this loan, now your at 90%  better   80% great
38075
Probably not.\nMost HELOC's come with a $500 cancellation fee if the loan is closed (sold, refinanced, etc) in the first 3 years.\n\nEven if they refinance you at no cost to you, you will have lost whatever principal balance you've paid down in the interim.\n\nBasically, you would have to save enough money during those 3 promotional rate months to offset all your costs.  (And if you have that $500 cancellation fee, that won't be too easy)
190506
go to a loan company and put yor car title up for collateral
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.
766699
it would not adversly effect your credit to refinance your car loan.  short term, you may lose a point or two, but that will recover within a month or two.  don't let that stop you from making a wise financial decision.  \n\ncall your bank, credit union or even the company your car loan is with now.  get some quotes on rates you qualify for - ask for a 3 year term.  then do some math.  what you want to do is figure out if it will be beneficial to refinance.  you can do the calculations on this site: www.bankrate.com.  click the calculator button at the top, and then click on the credit card link "the true cost of paying the minimum" (its the easiest one to use).  plug in the loan amount, rate, monthly payment they quote you, check "fixed payment" and click calculate.  do that for the loan you have now, and compare to the loan you could get.\n\nyou may find refinancing that car loan could save you a lot.  on a $10,000 loan, reducing an interest rate from 10% to 5% will save over $800 in those 3 years.  And cutting a $13,000 loan from 15% to 10% will save over $1,100 in those 3 years.  On the other hand, if refinancing only saves you $300 in 3 years, it may not be worth your time.\n\nDo what works out to your advantage.
755354
different auto landersa have different policies.. try this http://www.carsloan.info
895577
If you are trapped in an interest only mortgage you will have to pay penalties for paying off the principal.  It is not a good idea.  Hopefully your loan guy is part of a big bank.  That is where you will get the best deal with no funny business!
689243
Yes, your Perkins loans (not your Staffords) can be forgiven if you are a law enforcement or corrections officer.  Up to 100% of your Perkins loan can be forgiven -- the exact percentage depends on how long you have worked in your field (generally, they forgive 20% of the loan per year for five years).  Because Perkins loans are held and administered by your school, there is no standardized cancellation form, so just contact your school (or the 3rd party servicer who bills you) to see what their application process is.  Good luck!
1049698
No if you go to a title loan place. They do not check your credit. You will have to pay a little extra to your car title back. But you still get to drive your car. And if its crummy  don't worry about it.