my car payments are to high they won't let me refianice and they told me to tell the bank that I dont want the car anymore and the bank will take it do I still have to pay the note?

my car payments are to high they won't let me refianice and they told me to tell the bank that I dont want the car anymore and the bank will take it do I still have to pay the note?
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1 Answer

Answer :

The loan is separate from the car. The car has been used as collateral on the loan itself. You can ask to see what the payoff on the loan is and possibly refinance in that way, it depends upon different variables, of course. But even if you independently sell the car, you’re still responsible for the loan.
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