What happens if I cancel my car contract that financed for 5 years for personal reason and its been a year and a half that I have paying the fees?

Cars & Vehicles

A contract is a binding legal agreement, and you cannot cancel the contract. If you fail to make your payments on time they will repossess the vehicle. They will then sell the vehicle for whatever it will bring, and you will be required to pay the difference in the selling price of the vehicle and the balance on the loan. You will also pay all repossession fees. Your credit will be ruined for 7 years due to this action.

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