A friend of mine father had a car loan for about 20000 and the car is only worth about 14000 now, he passed away but his wife can not afford the payment. His name is the only one on the loan, what can she do? Can she turn the car back in to the dealership? will it affect her credit, although she turns the car in, its not because her husband could not make the payment its because he died. He had GAP insurance but the dealership said it only covers accidental death.
what happens to car loan during death?
- Thread starter Name
- Start date