Adam borrowed money to buy a new car. The bank now has a lien. What can happen if Adam doesn't make his payments on time?

Question

umm · Answer

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What is all the given information?

Vocaloid · Answer

answer choices:

A.The bank could sell the car.

B.The bank could lend him more money.

C.The bank could exchange his new car for an old one.

Vocaloid · Answer

By definition, when a bank has a lien, it has the right to retain ownership of the car if the car payments are not made. The most likely scenario for an unpaying debtor is for the bank to seize the car and sell it.