First: no, you may not "repo" the car, because you do not have a "security interest" and "security agreement" which gives you permission to do that.
Second: if the buyer "took the car" without paying, it could be a criminal offense (theft, theft by deception, etc) and you can file a police report and let them get it back for you.
Third: if the buyer simply didn't make the payments as agreed, and you don't have a repo right in your loan agreement, and they won't give the car back voluntarily, then you must seek permission of a court (judge) to request the local constable/sheriff/police to take the car back and return it to you as a breach of contract, or as fraud, or whatever your lawyer tells you your facts will support as a claim.
Attempting to "repo" a car without an agreement is called "self-help" and will get you arrested if not shot and sued. Of course, you have a counterclaim for the value of the car that was taken from you and any expenses it costs you to get it back.
Repossession agents are not typically paid a salary, nor are they typically paid hourly. Repossession is a per unit business. That is, the repo man is paid by the vehicles he recovers. Amounts vary by the individual business.
HelP my carwS repo theynever sent me anything I lied bk paid the payments for a years Teri thought it was paid for they repo it then never called and never sentme anything after why how can they do that
Unfortunately, it doesn't seem as though you really won a car. The lien just means that the bank has interest in the vehicle until the note is paid. Yes, they can repo the car if the not isn't paid.
Any business is hard work to open so a repo business would be hard to open as well.
They reported what happened (a repo). Yes!!!! You should have never let it get this far. Take care of your business. Unlike the repo guys who are perfect and never make a mistake we mere humans are mortal and do err from time to time so please bear with us ...painful as it is for you(of course most repo morons couldn't make it as auto wreckers so what does that tell you). Yes lenders will put a repo on your credit regardless of what they may tell you and it stays on.You can write a letter to the credit reporting agency and dispute it.
7 years from the date of repo.
do I need to be bonded in nystate for repo cars
can anyone tell me haow I can repo a car that someoone ha not paid for
What are the requirements to become a repossesion business in Florida?
The repo man will get paid on Sunday...
Ive never heard of a repo company just giving up, they dont get paid unless they get the car. They will eventually catch the car or have a sheriff come out and help
When it gets to your CR, a repo is a repo is a repo. Theres only one.
we are all paid by unit
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
Two years work experience under a licensed repo agency within the state of California is required before starting repo business. An exam is to be taken to be a "Qualified Manager" which is required to ?æbe stationed in all branches. A CA business license is required before operation.
Yoy will need a business license, insurance, a tow truck, a SECURE storage lot, customers- and a knowledge of repo laws in your state. Can of pepper spray is optional.
Yes. The objective of a repo man is to reposess property of people who have defaulted on their loans. A repo man will never ask for permission.
YES, a lender can get a judgment for the balance owing on a loan after repo.
"debtors" can never repo cars, LENDERS can, even after you make 'arrangements". As long as you are in "default", they can repo.
alot but not to to much
yes, but no cars can be moved or damaged in doing so.
btw the dealer never got deal bought by a lender because down payment was not paid is partial deposit refundable?
YES, If the note is not paid on time they can. If you want to know what they can and cant do read your contract (all of it) It spells out what would cause them to repo.
i know a vehicle that is wanted for repo and i know where it is located but will i get payed for telling them and around how and who do i call ? thanks i really appreciate it