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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.
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∙ 13y ago
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Can your car be repo'd by the dealer if you still owe on the downpayment even if your payments are on time to the bank my payoff on my trade was more then what i knew now they are charging me?
If the car is financed through a bank, the bank is the only agency with authority to repossess the vehicle. The dealer, once paid by the bank, no longer has any claim to the vehicle.
Can the bank take your car at the dealer if it is in the process of repossession?
The bank can repossess their (not 'your' vehicle until you possess the pink slip) vehicle at any point where it's accessible to them, including places of business.
If you have two car loans at one bank can the bank repossess both even?
Yes they can repossess everything that you got a loan for.
I failed to pay the pick up payment can the dealer repo my car even if its financed through a bank?
Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.
When a bank repossess someones car?
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.
Can a used car dealer repossess a car with a balance of only 124 dollars if there is a loan on the vehicle from a bank?
IF the dealer is acting as the banks agent(hired to repo), YES.IF you bought the car from that dealer, the dealer may have had "recourse" on the loan, so that he/she had to do the dirty work if you didnt pay. $124.00 is not the main question, how LONG has the $124.00 been in default??
Can a bank repossess a car who's registration is past due?
no
Can a bank repossess my car if I am making some sort of payment?
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.
When can a bank repossess someones car?
When the owner defaults on the loan payments
I sign a contract with the dealer but the bank backed out of the financing after driving the car off the lot. Can I keep it.?
Literally speaking, you can physically keep it until they repossess it and incur any fines/penalties/bad credit marks.
How much has to be owed for a bank to repossess a car?
it is up to the bank to decide. Legally, as little as 1 cent.
Can the bank repossess your home when child is in full time education?
yup
