It is also important to note that some car finance contracts include a clause that allows the finance company to cancel the loan if the signer drives the car more than a certain number of miles per year. This type of clause is often referred to as a "mileage cap." If the signer exceeds the mileage cap, the finance company may have the right to cancel the loan and repossess the car.
If you are considering signing a car finance contract, it is important to read and understand all of the terms and conditions carefully. If you have any questions about the contract, you should speak to a qualified attorney.
