What happens if you buy a new car and then die?
What happens if you buy a new car and then die? If the estate can't cover the full cost of the car loan and nobody plans on taking over the car loan, the lender repossesses the car and sells it to cover the loss. It'll return any remaining funds to the estate. How Long Can creditors go after an estate? First things first: At death, your assets become your estate. The process of dividing up debt after your death is called probate. The length of time creditors have to make a claim against the estate depends on where you live....