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Firstly, is not "your" car ... The lending institution actually "owns" your car and can legally repossess it whenever the monthly payments are not being made as agreed upon when the initial loan was signed by the buyer.
The lender is entitled to recover their property by most any means. And is is their right to resell that car to anyone they choose in order to recoup their losses after not being paid by the original buyer.
Miss a payment, lose the car ... simple business. After all, they have your signature on a document that states you promise to make monthly payments or face the consequences.
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∙ 9y ago
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Can a dealership repossess your car if they are not the lien holder?
No. The lienholder is the only entity with a right to repossess.
Can you repossess a car on tribal land?
NO!
My car was in an accident and is still at the body shop which hasn't been paid yet he finance company wants to repossess the car. Can they repo it from the body shop?
Yes, the finance company can repossess the car from the body shop. They would likely wait for the car to be fixed before they repossess the car.
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Can they repossess your car when it is on your personal property?
Yes
Can a lender repossess a car if you do not pay down payment?
Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.
Can the state of North Carolina charge for personal property when they repossess your car?
The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.
Do you have to have insurance to repossess a vehicle in South Carolina?
No, you dont even need keys to repossess a car in South Carolina
Can a finance company repossess your car if your license is suspended?
They won't repossess it for your license being suspended, but they can repossess it when you fail to make payments, regardless of what the current status of your license is.
Does a repo agent have to notify you if they are going to repossess your car?
no
Can Georgia agents repossess a car in Florida?
yes
Can they repossess your car if your living in it?
yes, it is a default on a loan
