What Are the Effects of an Auto Loan Default?
An auto loan default can have serious consequences. If you default on your car loan, the lender may repo your vehicle. This means they can take back the car and sell it to cover the cost of the loan. You may also be responsible for any deficiency balance, which is the difference between what you owe on the loan and what the car sells for at auction. In addition, your credit score will take a hit, making it harder to get approved for future loans.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706