HSBC AUTO LOAN
Date: Wed, 03/04/2009 - 12:37
what will happen if I return the car and default on the loan?
The auto will be sold at auction and the proceeds will be deduct
The auto will be sold at auction and the proceeds will be deducted from the amount that you owe. You will be liable for the deficiency balance if one remains.
Yes, if there is still any deficiency in the amount, you need to
Yes, if there is still any deficiency in the amount, you need to pay it off to the creditor. If you do not pay it off, the creditor can sue you to the court and bring judgment against you to recover the outstanding debt.
cant pay the auto loan
can I tell the lender if I could sell the car the the difference I will pay them later like monthly