Money Management

After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?


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2005-09-27 03:23:40
2005-09-27 03:23:40

The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.


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If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.

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