Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is a short payoff?

payoff short
0
10 Posted

What is a short payoff?

0 CommentsAdd a Comment

1 Answer

0
10

A short payoff is an approved sale of a vehicle for less than full payoff of the loan. This method is generally used when a borrower can no longer afford to maintain the vehicle due to financial hardship, and therefore selling the vehicle is the only option.

0 CommentsAdd a Comment

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.