I know the police can confiscate vehicles used in crimes. And if there is a clause in the loan agreement saying they can foreclose if the vehicle is used for criminal activity, I'm sure they can, but am not sure what constitutes proof, or if they even have such clauses.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
when he has a credit
Yes they can repossess everything that you got a loan for.
If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.
YES, as long as the car is collateral for a loan, they can repo it.
When the owner defaults on the loan payments
The bank doesn't own the car. Unless you used it as an asset, or collateral for a loan from them, they should have no hold on that.
it is up to the bank to decide. Legally, as little as 1 cent.
I have NO IDEA, WHY look here if there is NO ANSERS
If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.
Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.
no it can't because the used car is used
YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.
A bank can repossess a car at any time the loan has defaulted. Many times a bank will wait until a payment is 2 to 3 months behind before repossession.
The bank can repossess the car if payments are not made.
A dealer will never repossess, UNLESS they are also the financier. most dealerships sell the loan to a bank, whom you make payment to... this bank will be the "reposseser". Now, that's not to say that the bank will not notify local dealers to be on the lookout for a car they are actively chasing to repossess, but most of the time they will just come to your residence to serve the repo. I have never heard of a dealership doing so, because most banks have folks that can get your car by other means if they want it back bad enough.
Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.
No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.
No. Absolutely not. If they enter a vehicle they do not have an order of repossession on, they've committed a crime. They may enter the vehicle they are there to repossess, and only the vehicle they are there to repossess.
Can the police repossess your car? Can the police repossess your car?
No. Repossession is a civil matter not a criminal one.
The bank that you have the loan with hires repo men to repossess the vehicle