Anonymous
Anonymous asked in Business & FinanceCredit · 2 months ago

what are the people with car payments going to do who have been laid off due to covid 19 restrictions?

Update:

they have protection until how long? then what? they have to catch up on payments how quickly?

9 Answers

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  • 2 months ago
    Favourite answer

    They will be given a chance to live up to their contracts.  If they fail to do it, the cars will be repossessed.  You don't get to keep what you don't pay for.

  • 1 month ago

    You can sell the car and give the bank the money that you got from that transaction, and you would just owe the bank the remainder of the car loan. 

    Source(s): I looked it up.
  • Willie
    Lv 7
    1 month ago

    They can ask for an extra months or turn it back to the bank.

  • Judy
    Lv 7
    1 month ago

    Th same as for any other payments or expense.  Use savings and stimulus money. borrow, try to work something out with the lender, or sometimes get their car repo'd.

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  • Anonymous
    2 months ago

    Haven't you heard? The worst of it is behind us.  And who can't get a part time job for a car payment?

  • ?
    Lv 7
    2 months ago

    They will lose the car. It will be repossessed. 

  • Med 10
    Lv 6
    2 months ago

    And all the time interest is adding up on their payments. Too many people live way beyond their means in this country.

  • 2 months ago

    Wished Obama never had had all of those good, cheap cars crushed...a liberal policy.

  • Anonymous
    2 months ago

    they are going to be walking

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