As far as I know, pink slip loan is an emergency cash advance made by a finance company keeping your car as collateral so that if you cannot repay back the debt, the creditor can repossess your car and sell it off to recover the debt.
Since you owe $9500, I think that you need to repay it off, as your car has been kept as collateral on this amount.
"Pink Slip Loan?" What is this? When I got my Jeep financed, the finance company gave me a Pink Slip to my car..not the Title. I have the Pink Slip that says the car 'belongs' to the finance company until the Jeep is paid off and then I get my Title. My loan is in 'good standing.'
As far as I know, pink slip loan is an emergency cash advance made by a finance company keeping your car as collateral so that if you cannot repay back the debt, the creditor can repossess your car and sell it off to recover the debt.
Since you owe $9500, I think that you need to repay it off, as your car has been kept as collateral on this amount.
credit
"Pink Slip Loan?" What is this? When I got my Jeep financed, the finance company gave me a Pink Slip to my car..not the Title. I have the Pink Slip that says the car 'belongs' to the finance company until the Jeep is paid off and then I get my Title. My loan is in 'good standing.'