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Are you required to pay for the car after the car has been reposessed?
Wiki User
∙ 18y ago
You will be required to pay for the remaining loan amount after the vehicle is sold at auction and the expenses are recovered from the auction. In other words, you will probably have to file bankrupcy if you owe very much.
Wiki User
∙ 18y ago
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Can you get a car back after it has been reposessed?
Yes until it has been sold by the lender, contact the lender and pay the bill
How do you get a car loan to pay for your reposessed car?
Go to the individual banks, and credit unions, and talk to them.
Can you still buy a car if you have on your credit report that you had a car reposessed?
Yes, IF you pay more down payment and higher interest rates.
What if you pay 95 percent of your car loan and you stop paying Can it be repo?
Yes! Even if you've payed 99.999999...% your car will still be reposessed.
Do you have to pay for the car loan if it is reposessed?
yes they will aucaution it off for pennys on the dollar and then they will sue you for the rest or garnish your wages
Do i still have to pay the lien even if i don't want the car?
If you borrowed money to purchase a car then you are required to pay it back.If you borrowed money to purchase a car then you are required to pay it back.If you borrowed money to purchase a car then you are required to pay it back.If you borrowed money to purchase a car then you are required to pay it back.
After a car is reposessed and sold for more than you owe on the loan who get the difference?
if your car is repoed,and sold for more than you owe, you get the extra. this is fed. law. if sold for less,you pay the diff.
Your car was reposessed out of your garage at home it that legal?
Yes, if it was not locked. They cannot breach the peace to repossess a vehicle but they can come on your property to get their property, namely the car you do not own. It is their car until you pay for it. So legally they have only recovered their property.
If you pay the amount due before your car is reposessed can the creditors deny you the right to pay the debt and still take the vehicle?
Its a GAMBLE to see how long you can wait to pay. If the lender sends the repo order out on Thursday, you pay after businnes hours on Friday, you will likely lose the car and the money before Monday morning. Then you have repo charges to pay to get the car back. Dont Gamble.
Can your car get reposessed for not having insurance?
Not usually. Most companies will add coverage for the insurance which is usually higher than you will pay at most companies. This is called forced place insurance.
After having your car reposessed how hard will it be to try to buy another car?
It is not hard.You will have to pay a higher rate of interest.A better way to go is to lease to build your credit back up.An even better way to go is to buy outright and save your money.Remember that the repo stays on your credit whether or not you continue to pay for the car or pay the loan off it is still there.
After a car is voluntarily reposessed can a collection agency threaten legal action if they have accepted payment arrangements from one signer?
roosta Once the loan is in default, the lender can seek payment from ANY signors to the loan. After the car is sold, there is NO collateral for the loan except the ones who promised to pay . It is now time for them to pay.
