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Do I have to keep paying off a car loan if the car dies?
"I've had a car for some time, but it's on its last legs. When the car inevitably dies, do I have to keep paying the car loan?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You definitely have to keep paying the car loan. Just because your car dies doesn’t mean that the loan is null and void. Your legal obligation to repay the loan remains in place.
To avoid a similar situation in the future, conduct all necessary mechanical inspections to ensure that your car lasts for at least the life of the loan.”
View full answer
- Gregory R.
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