Posted by Enigo 4 years ago In:

loans, loan, auto loan

Enigo Asked About 'Auto Loan - AOL Money '

Cancel Auto Loan

Can I return the car to the dealer and cancel the auto loan?

I already paid almost half the loan. Will I get my money back?

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6 Answers

Order by: Oldest to Newest; Newest to Oldest; Votes

OscarG Answered:

You could, minus interest and fines.

Be careful and pay attention to details. It might be cheaper to just go on paying the loan.

Posted 4 years ago
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tysmom7211 Answered:

You can cancel the loan as long as your car value is equal to the amount you owe. In that case the dealer would possibly buy the car back for the amount you owe. It doesnt always happen this way, sometimes your vehicle may not be worth how much you still owe on the loan.... Be very careful..

Posted 4 years ago

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marcia Answered:

No, you can't. I know!

Posted 4 years ago

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pon20105 Answered:

getting money back..? i think it can't be. but you can return the car if u want so. ;)

Posted 2 years ago

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Ryan Answered:

Erm...thats not how it works. You can basically sell the car back to the dealer and hope that the amount that the dealer gives is higher than what you owe for the loan minus all the fees etc. Don't be surprised that you might just walk out of the dealership without a car and without a loan to cover but with no money in your hands. Its happened a lot and it isn't the fault of the dealer....its just the way loan products as structured and how the value of cars drop significantly.

Bad Credit Loans

Posted 2 years ago

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Peggy Johnson Answered:

I was approved for only fifteen thousand dollars and the finance manager draw up the sales paper for 25,000. I sign the paperwork and have been driving the car for 1 week the finance manager call said I had to return the car what do I do?