Best Answer

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.

User Avatar

Wiki User

โˆ™ 2005-09-27 03:23:40
This answer is:
User Avatar
Study guides

Create a Study Guide

Add your answer:

Earn +20 pts
Q: After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?
Write your answer...
Related questions

Can you buy another car even though is repossessed?

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.

If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?


What does self-driven mean?

Self-driven means that you are motivated to accomplish something without an external reward. For example, you may be self-driven to be the first person to arrive at work everyday even though it doesn't result in a raise or promotion.

If someone has a motorcycle in their name but someone has the property and is behind on payments can the motorcycle be voluntary repossessed by the main name even though someone else has the property?

Yes it can.

Can you still owe money after your mobile home is repossessed?

Yes. The home was repossessed because you failed to make payments you contracted to make. Even though you no longer possess the home, the contract is still in force and must be satisfied unless the lender forgives it,

Can your car be repossessed out of your driveway?

Yes, even if there is a locked gate they can reposes your vehicle.

What forms of transportation did Michael Jackson have?

Michael was able to drive but was driven around in limos most of the time. He also rode on planes even though he was terrified of them.

Can you take possession of the car if the borrower stops making payments even though they have been paying for a year?

Only if your name is on the title, and only if the primary borrower defaults and the vehicle is subject to being repossessed by the lender.

Can a car be repossessed when another car is parked behind it?

Yes, a car can be repossessed even if another car is in front of it. The person in charge of repossession the vehicle can call the police to help them get the car.

How do you check the breaker on the outside ac unit?

Even though the A/C unit is outside, the breaker for it will be in the entrance panel box inside your home. It should be clearly marked.

Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?

No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.

How many people in the Manhattan project died of radiation sickness?

Even though the exact number is not yet estimated it was marked in the several thousands, even people today are still dying from radiation sickness clung to the land.

Can a creditor list your car as repossessed on your credit even if they have not repossessed it yet?

Looks like 2 choices here..they made a mistake and listed the wrong account OR they have more faith that they CAN and will repo it than you do...LOL

Can you start a sentence with even though?

Even though I didn't want to, I started THIS sentence with 'even though'. Even though the judgment was, it stlll goes against one of the litigants.

How are nun buoys marked?

even number .... penis

How is nun buoys marked?

Red with even numbers

How do you make a sentence using even though?

Even though I love you, we can never marry.

Can a buy here pay here car be repossessed?

Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.

Is there an electric car that can be driven on the road?

Most cars can be driven on the road, regardless of whether it runs off petrol, diesel, or even electricity. The only cars that can't be driven on the road are called carfish.

Auto repossession laws in Nevada?

In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer.

What parts of speech are even though because and but?

Even though, because, and but are conjunctions.

What is an example of a sentence using even though?

Even though your older than me you are not in charge of me. Even though you're older than me you are not in charge of me.

Where in Western New York can you buy a repossessed car?

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 think 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.

What is a good sentence for even?

Depends on how you are using it. You should start with even though. Or put even though in the middle

If you can't make your truck payment anymore can you have it repossessed?

Sell it if you can. Even if you have to sell it at a loss. Let the bank know what's going on and even though they'll complain and want to make arrangments for you to pick up any of the loan that isn't satisfied, at least it will be better for your credit in the long run than if you let them repo it.