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Does a lender who repossessed your car have rights to your new car?
Wiki User
∙ 16y ago
Not directly as a named lienholder would, but it depends on many things - mainly if the repossession reaped enough money to pay off the prior debt (which would include all late fees, interest, costs of collection, etc.). If not, the amount you would still owe may be turned into a claim or lien against other things you own, or wages you earn, to get full recovery.
Wiki User
∙ 16y ago
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Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?
No
If a new car is in the process of being repossessed can you use the escrow to catch up the note?
not likely but IF you can get the lender to agree....
Clear car title car for repossessed car?
098765445436376547274574 After the vehicle is repossessed and the lien holder (lender) has physical possession of the vehicle (after following state law requirements) they would simply request, and pay for a new title at a cost of a few dollars, and upon proper proof of a proper repossession.
How can you get a new car if your previous car was repossessed?
I have seen it done, yes.
If you still owe for a car that was repossessed three years ago can they take your new vehicle that is fully paid for?
Depending on your state, the LENDER can get a JUDGEMENT and attach your "paid for" car(or anything else of value in your name) so when you sell it, they will get paid first.
How long do you have to pay back a car title loan?
Well after I got my car repoed it took me till Oct of the same yr to pay the lender off with a new charge off amount repoed in April 2003 paid in full Oct 2003 on my Credit Report it shows as a charge off. I paid it off in 6 months I refinanced my home to pay off he difference. In between time I had their Collection agents call me and make pymt options at the time but I told them I would be refinancing my home anytime and pay off the amount I owed.
Can a lender stop you from register a new car if another car is in repo status in Florida?
yes they can stop you , you need to return the car back to the lender in other for you to register a new car.
Car repo in ny?
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.
If your car is repossessed in Illinois and the lender wants full payment can you file for bankruptcy within a certain amount of days so that your able to keep your car?
Bankruptcy does not prevent a vehicle from being repossessed. If the debtor/borrower wants to keep the vehicle they must reaffirm the loan with the lender. Furthermore, new bankruptcy laws require the borrower to repay the entire amount of the loan and applicable fees rather than the discrepancy between the loan and the amount recovered in the sale of the vehicle.
If a car is in the name of a deceased parent but the car continues to be paid for can it be repossessed?
I wouldn't see why they want the money not the car.AnswerProblem is, the loan is not in the survivng person's name. The lender would want to redo the loan in the new person's name before they held off the repo. If the new person can't get the loan, then the bank will have it repo'd.
What happens to you when your car is repossessed?
Repo'ed carContact the lender that had the lien against the car, and they will tell what steps need to be taken to get it back (i.e. making all overdue and/or current payments on the vehicle).
Can you go to jail for non payment on new car?
Jail? No. But the car can be repossessed and major fines can be instated for non payement.
