Asked by: Benilde Mazzinipersonal finance credit cards
Can you get a title loan on a car that is not paid off?
Last Updated: 3rd June, 2020
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Also know, what will happen if you don't pay a title loan back?
If you can't pay off the loan inthetypical 30-day period, the lender may offer to“rollover” the loan into a new loan.If you don'tpay what you owe, the lender may decidetorepossess your vehicle.
Furthermore, can you sell a car with a title loan on it? If you're trying to sell yourcar,but you still have a car title loan with alender,you might be wondering if you can sell a car witha titleloan on it. The answer is yes, but you have tomake surethe car title loan is paid off before youwill beable to transfer the title to the newowner.
Moreover, how long do you have to pay off a title loan?
30 to 90 days
What happens if I sell a car with a lien on it?
It's not illegal to sell a vehicle with a lienonit, as long as the sale allows you to pay off the loanandtransfer the title to the new owner. Remember, if youstillowe on a vehicle, the lender owns the car and,inmost states, holds the title. Many states make it illegaltosell a vehicle without a title.