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Can a car dealer repossess vehicle and collect from the signer and cosigner twice?
Wiki User
∙ 12y ago
No. They can only collect the total owed them once. They can repossess your vehicle, sell it for next to nothing, and collect the remainder from you and the co-signer, part from each, or all from one or the other, but not all from both.
(If they're smart, they'll just go straight to the co-signer, since the co-signer is presumably creditworthy, and will pay up without much argument. Of course, then you have Dad to deal with!!)
Wiki User
∙ 12y ago
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Can a used car dealer repossess a car that is not in delequent of payment?
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.
Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?
Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.
Can a car dealer take your car back?
If the dealer holds the lien and is the one that loaned you the money to purchase the vehicle he can repossess the vehicle if you fail to make your payments on time. Otherwise the selling dealer has no claim on the vehicle whatsoever.
If a car is in your name as the primary but your cosigner has been making payment for the last year and many of those payments have been paid late can you legally take that car from the cosigner?
Since the cosigners isn't paying, unless you start paying instead, and catch up on all late payments, the dealer or the bank will repossess the vehicle shortly anyway, so your question is moot.
How long does dealer have to ask for car back in Virginia?
Why would a dealer ask for a car back? If you are referring to how long he has to repossess the vehicle after you stop making payments, the answer in most states is immediately.
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.
Can a lien on car you perchused full in cash but dealer has a lien on the car still be reposessed?
If you purchased the car in full with cash then there shouldn't be a lien. Look at your paperwork to make sure it says "Paid In Full" if it does the dealer has no right to repossess a paid in full vehicle. A lien is where you are making payments for a vehicle and the vehicle is being used a collateral until the vehicle is paid off.
If someone bought a car from a used car dealer and they wanted to repossess the car what is the buyers rights?
The buyer has the right to surrender the vehicle before he picks it up. Or pay for it.
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.
Do Used commercial vehicles dealers have to charge sales tax?
Any vehicle dealer needs to collect sales tax for whatever they sell, unless they are selling to another dealer or wholesaler.
If you can not meet payment on a car can you take it back to the dealer?
Returning the vehicle will not relieve you of the responsibility for the debt. Typically your lienholder will sell the vehicle and charge you for the deficiency balance. However, if you cannot pay for the car the lienholder will repossess it and follow the same procedure. Also, unless the dealer provided "in house" financing they probably have no further interest in the vehicle. You are now obligated to pay the bank or finance company. In this case the dealer may not allow you to return it to the lot.
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??
