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What Happens When You Default on a Car Loan Where

Question 35

Multiple Choice

What happens when you default on a car loan where your Title is held as collateral?


A) You damage your credit history but you keep the car.
B) You lose the car and damage your credit history.
C) You face liability under the deficiency payments clause.
D) Only choices B and C are correct.
E) All of the above choices are correct.

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