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If Wells Fargo was the institution that wrote the loan on the vehicle that is being repoed, they already have a lien on it. This is done to secure the loan you agreed to pay, that you contracted to pay. The other possiblity is that Wells Fargo purchased the loan from the originator, in this case, the same is true.
The vehicle being repossessed is a clear indication you defaulted on the loan, you breached the contract. It is not the fault of the lender that you did this. It may be the result of unforeseen circumstances, but it is your responsibility.
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∙ 13y ago
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What do repo companies charge for a repo?
about $825.00 for a small car $1025.00 for large and mid. trucks. large trucks billed by both hourly and by the pound...............no honestly it isn't up to the repo companies anymore many contracts between the lien holder and the debtor control the fees.
Can a repo take place at your work in Florida?
A repossession can be executed anyplace or time that a person holding the repossession order sees the vehicle in question, as long as the repo man does not violate the law in doing so. That said, Florida law does not restrict repossession according to location.
Have a auto finance through Wells Fargo that I'm several months behind in what happens?
repossession man comes car goes to auction you pay difference between that price and your loan payoff, usually not in your favor. auction cars go to dealers for as little as 50 dollars if you owe 2000 dollars you will have to pay 1950 dollars and repo fees. better off to call bank and work something out
How long before repo or finance company gives up and just writes it off?
If you don't pay for the car it has a lien on it, and can never be sold. You may not be able to get new tags for it if it is flagged.
Will Wells Fargo repo?
Yep, miss a payment or two and they will be banging on your door looking for their car.When you missed that payment it became their car.Addendum:Technically it never wasn't the lender's car. All lenders take a lien out on the vehicle. This is a special condition of ownership. The lender does not want the vehicle, they want the money you owe for the vehicle. However, if you stop paying, you will be lucky if the repossession agent bothers to knock on your door. Likely as not, you will wake up the next morning and wonder why your car is not where you left it. And, should you happen upon the repossession agent doing his job and interfere, he may leave the vehicle, but don't be surprised when it's gone the next time you walk out of Walmart of the Piggly Wiggly.
How do you protect your self in Wells Fargo repo in ny?
Pay your car payments on time.
Can a 2nd lien holder repo your car?
YES if you don't pay any lien holder,they can repo it until you meet their requirements
How do you get a repo license in Florida?
how do i get a a repo license in Florida
Can a dealer repo withOUT a sales contract?
Yes, if the Lien Holder of the vehicle gives them permission to repo.
If you are on the title as the lien holder can you go repo the car?
Yes.
Can you sell the car before they repo it if they are alraedy saying that they want to repo it?
No, the car has a lien on it. You cannot legally sell without a lien release from the lender. Be careful, you will get into serious trouble trying this. You can sell the car if the lender agrees but if they are trying to repo it i doubt they would agree to a sale at this point.
Can the bank put a lien on your house after a car repo?
Yes. They repo and sell it for next to nothing. They sue in court and get a jugement that they use to put a lien on your house. Next time buy a cheap car just to get you there and back.
If a car was purchased in Louisiana and now it is in Texas what are the lien holders rights to repo the vehicle?
the lienholder can repo at anytime as long as there is NO breach of peace.
Can a repo company come repo a mower 1 year after your bankruptcy?
Yes if there was a lien on it. If your bankruptcy was discharged, it simply discharged the debt, not the collateral.
Do you have a right to be at the repo auction in Florida?
no.
In Florida is there a limit on the amount of money that a repo company can charge?
In Florida, the repo company charges the lender with the cost to repo the car. However, the repo company can charge no more than $25 for storage of personals found in the auto.
Can you repo a car when the title with no lien and registration is still in your name?
there is also no bill of sale on it.
