Consumers need to realize that not only must the loan be recovered, they also want to recover their recovery costs and legal fees. They do not want to lose money at all hence the down payment. Don’t expect to get a lot of money back if your auto is repossessed. You could even still owe money.
Always meet your monthly payments and you do not need to worry. Once you pay off the loan, the next one will be easier since your credit rating will actually have improved as long as you have not had other issues with meeting your financial commitments.
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