could of course be totally different in PA, but in NJ, the debt belongs to the estate. They, of course, have a lien on the vehicle and can repo it.
In this market, though, you’ll want to check it if has positive equity. You may be far better off having the executor sell it, pay the debt, and any proceeds become part of the estate.
Of course this does mean the Executor would have to make payments on the aforementioned car.
If that car goes into default, then the executor will have a tough time trying to sell it without the Bank involved.
But everyone is saying get a Probate Attorney…this really depends on how much value is there. If it just the car (No house or stocks), then the next of kin can call the Finance arm and make arrangements.
I went through the whole process recently (in CA though) and it can take years to process stuff via attorneys
The car Is at least 10k underwater with a very bad deal. If we can we will get rid of it
Any other assets…basically the 100k rule
that may suck.
See what attorney says.
When I spoke to bank about my father’s vacation trailer, they said I can surrender it, they’ll sell at auction, and the estate would be responsible for the negative balance.
Get an attorney licensed in your state that practices in this area to look at the whole estate, not just this issue with the vehicle. You’ll get into trouble listening to some of the advice on here.
PA trusts and estates lawyer, yesterday for this sort of stuff. They can contact Hyundai and guide you upon state law. Sorry for your loss 
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Every post was either “talk to a lawyer,” “keep paying loan,” or both. So which one would lead to trouble?
Reading comprehension isn’t your strength, is it?
Was thinking the same thing for you. Please point out the specific problem and help out the poster with your vast knowledge rather than making vague statements.
Here, I’ll help you out. This is a summary of the topic. Since you yourself said get a lawyer, then you must think “call the bank” and/or “debt owed by estate” would get the OP in trouble. Please elaborate. If you have nothing of value to add to a discussion and simply want to be contentious, there are far better places on the internet where you can find real arguments without inventing problems that aren’t there.
When I worked at BMW, FS was able to terminate a few leases with a death certificate and as far as I know, there was not a remaining balance due assuming the car wasn’t damaged. Obviously could be a little different with Hyundai and financing, but could be a route your lawyer looks into.
It’s a finance loan and in PA, so not sure if it’s apples to apples. In any case we will seek professional help on the matter as it’s complicated, with multiple assets in question
Oh, lots of assets, then yes I would start with a trust and estate attorney.
If you have to open a probate that is 2 years of waiting fun
If only the car you can save a few $$$ and just talk direct, but lots of assets means the courts most likely to be involved
It’s part of the estate like any other asset/liability he had.
I handled my fathers estate without an attorneyin PA. It was pretty simple to do and the courthouse helped a lot with the forms.
2 houses, 2 cars, 5 financial accounts. Attorneys wanted 5% to do it for me. So I saved about $25k with maybe 5 hours of work.
Of course the state steals 4.5% also of money that was already taxed. But that’s a whole other issue.
My biggest question is if the auto loan can be absolved if the wife is not cosigned. I read two different things that it can be and/or that it can’t. But since there are other assets that are part of the estate I think we can’t get away from getting rid of the car without the bank coming after the house etc if we stop paying the car.
The car likely has equity in this market. Def not worth letting it go regardless if your assets are positive from the estate
Feel free to send me the vin and mileage. I can have my wholesaler make an offer
Jim
215-359-6836
Unfortunately it’s a bad loan, and the car is underwater by 10k, I already inquired about it with a dealer. But I will pm you the details.
did you tell the dealer about the situation? if so then they’re definitely screwing you. if you haven’t yet, see what its worth through these other sites:
He’s unfortunately underwater for sure. I asked a few people and confirmed for him. Going to be a theme going forward with all the markups if the market keeps turning.
Sorry for your loss op. Hope all goes well with the estate.
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