No you cannot be arrested for stopping paymentsto any car dealer, they can and will come get the car, however.
Unless the dealer was a 'buy here, pay here' lot, the dealer isn't the lienholder - it's typically a thid party bank or lending institution. So, to get the lien removed, you continue making your payments until the car is paid off.
you take your payments to pay them and say im here to pay them kthxbye
I do not believe that they can do that, as long as your payments are current.
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.
That will depend on your state laws. I have seen such an agreement here in Massachusetts, but I believe it is illegal and is an unfair act or practice in trade or commerce prohibited in most states and definitely in MA.
Only if the dealer reports it to the credit bureaus.
The spelling is DEALER PRINCIPAL (a principal here is someone with a proprietary interest).
Seek an attorney for a lawsuit! Make sure you have all of these documents for proof. Good Luck with this process! Wanda Improve Credit, LLC
Use some common sense here. If you continue to make the payments then all is well. If you stop making payments you are in default on the loan. They will repossess the vehicle. If they cannot find it, then of course they can't repossess it. But you will be looking over your shoulder from now on. And of course you can't sell the vehicle with a lien on it. And god forbid you have an accident or get stopped for speeding as you might get caught. You want to live like that? I sure would not want to. But it is your decision. We all make decisions, and we all live with the consequences of those decisions. The jails are full of people who made bad decisions. God gave you a brain, use it.
IT DEPENDS IF IT IS BUY HERE PAY HERE OR A BANK REPO BANK REPOS YOU HAVE 15 DAYS TO PAY THE CAR OFF IN FULL AND 30-60 DAYS TO RETRIVE YOU BELONGINGS OUT OF THE CAR. BUY HERE PAY HERE LOT WILL GIVE YOU YOUR CAR BACK AS LONG AS YOU PAY THE REPO CHARGE AND YOUR BACK PAYMENTS
A car dealer can hold a repo as long as he is the lien holder on the title.
Yes he was arrested by the Horry County Police Department, booked into jail and later released.