How can you find a company that would buy out a loan for a repossessed car in New York?
YES, they are called FINANCE COMPANIES and charge HIGH interest rates. If the car is already repoed, your chances are NOT good.
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In most states they can repossess anytime of the day. More often they will repossess while you are at work. This way you won't see it happening, they are in a public place, an…d if you do catch it its less likely a scene could be caused. And yes of course they know where you work. You disclosed this info when you took out the loan. Even if you change jobs they will find out. Repossession companies employ specialists who do nothing but find out what you do not want known, such as employment, banking, additional property and storage locations, family connections, and their information.
Answer . Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating.\n…With a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck.
%DETAILS% nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time… around. I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe the first lender the difference of what the car was sold at at action. (Car was worth 16k, they would prob auction for 10-12k.) I would be held liable for the differnce. I would still be out a few thousand dollars, but at least this way I would have a car.
Can you stop paying car insurance on a car with blown motor and continue to pay off loan to avoid voluntary repossession in New York?
If your loan agreement requires you to carry ins (most do) and you drop it, then you will be in default of the contract. You better make SURE the payments get to the lender PR…OMPTLY so they dont take a second look at your record when the ins. co. tells them you dropped the ins.
What do you do if you owe money on your car and want to have it repossessed but the loan company will not?
Answer . Maybe it doesnt meet the loan cos. repo specs?? (not running,wrecked,ect) Do you know where their office is? Is it lcal? If so, take it to them and leave it in the…ir parking lot. If they dont have a local office, call atowing co. to come get it,they can handle getting it repoed. OR leave it at the city PD parking lot..
When your car is going to be repossessed can you be arrested if the loan company can't find the car?
%REPLIES%. Answer . Under some circumstances, YES. Do you really want to go to jail for a car???? WHY cant they find a car YOU are supposed to be driving and paying for??.… Answer . NO, you cannot be arrested....UNLESS, there is a "Writ of Replevin" (court order) that you must at that time turn the car over or tell the lender where the car is. \nWithout the court order it is a civil matter and you CANNOT BE ARRESTED..
1(ONE) DAY, not months.Read your contract.
Is a car loan company allowed to repossess and put a hold on your bank account then over draft it in New York?
Partial answer . What did you sign? Do you have copies of all the paperwork you signed and that was ever associated with the loan? They repossessed the car, and then p…ut a hold on your account? Generally an ACH (if that's the way it was done) has to have your signed authorization to do a withdrawal, which is why it's important to know what was signed.
Answer . \nYou dont they most often get liquidated at dealer only auctions.
In New York State does a car loan company have the right after a car has been repossessed to freeze and over draft your bank account?
Answer . You need to read your loan agreement very carefully you may have given them that right.
My company does repos in the state of Virginia. If you are not "here" all you have to do is call the local towing companies and ask about rates and fees. If you need to get in… touch with me please do so at:. email@example.com
Answer . Almost always. They want you to pay them, they don't want the car. If it hasn't been grabbed yet you might want to voluntarily surrender the car and work out a dea…l. After it has been repo'ed you are going to have some ugly fines or fees (someone has to pay the repossessor). Best of luck.
In Vehicle Titles
In the state of SC, most title loan companies will wait for 30 days. After the 30 day mark, your vehicle can be repossessed from your home, job, parking lot or even at a gas s…tation while you are refueling. The repo company they use, will usually be very aggressive and have been known to make threats, which they can follow through with. Calling an officer to assist them, dragging your car away, tearing it up. Unfortunately, it is now legally theirs. They can flip it on it's side and drag it if they want to.
First off buying a repossessed car is a horrible idea. You are buying a car that someone could not even make payments on. Do you think they took care of this vehicle? Do you t…hink it was serviced regularly, the oil/filter were changed, and anything else necessary was done. More than likely the car was neglected and just driven. Unless the car as very low mileage, these cars are usually run to death. You can wear a car out in short order if you neglect it and drive it as though you know you are going to loose it. Saying that, if you insist on buying one, contact the lenders in your area and ask about their repo cars and when/where they will be sold.
In Auto Loans and Financing
Legally, your car could be reposessed after one missed payment. The terms of your contract cover default. Most will not repo your car after just one missed payment, but they c…ould. I would certainly suggest attempting to work something out with the bank.
Of course. They have the VIN and are the legal owners until you pay it off.