Overhaulin'

Can a loan company reposses a broken car?

okay i went to loan max and put upmy car title for money but the engine blew in the car and the loan is expensive to pay off so will they come get the piece of junk since im not paying on a car nots no longer running?

Public Comments

1. Yes, they can repossess it. If they do, they will sell it for whatever they can get for it. Then you will owe whatever you owe now plus the repo fees (minus whatever they sell it for). The loan company will still want their money and they will come to you for it. It doesn't matter to them what condition the car is in. They loaned you money that you agreed to pay back. It will ruin your credit and you probably won't be able to get another loan. You may want to reconsider not paying the loan because it will cause you a lot of trouble. Good luck.
2. Andrea is right. Be responsible and consistant on your monies. Use only what you have. This all goes on your credit
3. Yes - the mechanical condition of the car makes no difference.