answersLogoWhite

0


Best Answer

A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.

User Avatar

Wiki User

โˆ™ 2014-08-28 17:33:22
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides

Health

21 cards

Im with someone in the army and we want to get married asap but would he get into trouble he is 21 and im 16

What does teachorous mean

What is the first aid treatment for arterial bleeding

What is the difference between an intentional and unintentional injury

โžก๏ธ
See all cards

Cars & Vehicles

21 cards

What is an example of abstract language

What does complex sentence mean

What is a complex sentence

How can you avoid getting an electric shock

โžก๏ธ
See all cards

Technical Writing

21 cards

What is an example of abstract language

What does complex sentence mean

Ethos assures your reader or audience that you have

Can an Defibrillator jump start a car battery

โžก๏ธ
See all cards

Add your answer:

Earn +20 pts
Q: Can a car dealership repossess your car if they say you owe them more money for a down payment?
Write your answer...
Submit
Related questions

Can a dealership repossess a car without there ever being a car loan - and down payment made and cashed?

If you have not fully paid for the car, it is not yours. The loan papers allow you to use the car until it is paid for; without the agreement you have nothing.


Can a dealership file repo on you if you didn't make a down payment?

If the dealership holds the title (Buy Here, Pay Here) then yes. If the bank you financed it with already has the title and you have your tags, then no. The dealership can, however, place a judgment on you for the amount of the down payment.


Can a lender repossess a car if you do not pay down payment?

Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.


If you do not pay the down payment to the dealership within the agreed upon 30 days can they repossess your car?

Mike, READ the contract you signed agreeing to do certain things in exchange for a car. What does it say about if you are in DEFAULT? If you dont perform any one of the conditions of your loan, they you are in default and can be repoed.


Can a car dealership cash your check that was used for down payment if you were never approved for financing?

A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they get to keep the money.


What stuff do you have to pay when you are going to get a new car at a dealership?

You will need to pay a down payment when you get a car at a new dealership.


Can you deduct interest from a personal loan taken for a down payment on a home?

You cannot borrow money for a down payment on a house, the only exception is if the loan is secured against an asset, like 401 k, borrowing against a vehicle that's paid for, from relative or friends When the bank loans money for a house, they've calculated that you won't be able to pay back your loan if you take on more debt, and borrowing the down payment is additional debt. If payments aren't made and they have to repossess the house to sell, often it sells for less than it's worth. So they can sell quickly, and a down payment prevents them from having a loss.


Can a dealership reposes your car for a downpayment even if you are up to date with the finance company and the finance company paid them already?

No, the dealership cannot repossess your car for a downpayment. However, if there was a downpayment paid, and your check bounced, that's passing bad checks, which depending on the amount of the down payment, could be a felony. Read the fine print on your contract and you'll see that if the car is related to the commission of a felony, it puts you in default, which means the finance company can repossess your car. It's all in the fine print, but dealerships and finance companies are all in business to make money, and they pay people like myself very well to make sure their interests are covered. I'd suggest paying your downpayment.


what application do i fill out in order to obtain grant money for down payment of a home?

is there grant money for down payment of a home


What about your down payment money?

pay it


In the State of Arizona can a dealership repo a car if you are current on your payments but they made mistakes and never got your down payment?

Need more info how did they make the mistakes and not get the down payment? Well, technically yes. If you signed a finance agreement that stated a down payment and you didn't give a down payment, you breached the agreement. Whether it be by their mistake or yours. Now, is it right? No.


Can you get a cell phone with no money down payment?

No.


Are there websites that can calculate car loan payments?

There are websites that calculate your car loan payments. Most dealership websites have a payment calculater on there site that will allow you to enter your down payment amount and will calculate your payment after taking everything into play.


Is there free grant money for down payment and closing fees for first time home buyers?

is there free grant money for down payment and closing fees for first time home buyers


What did mama do with her money?

She put a down payment on the house


How do you buy a home with no down payment?

You can purchase a home with no money down when you make arrangements with the owner. Some companies will allow you to use your land as a down payment as well.


If you purchased a 2006 H3 last week but put a stop payment on the down payment check for misrepresentation loan is through private party and you have tried to settle the matter can dealer repossess?

Yes they can re-possess at any time, terms and conditions state, the vehicle belongs to the HP company until full payment is received that you borrowed, however they must send you a NOD (notice of default) and give you 14 days in which to pay, and then a TERM ( TERMINATION OF YOUR RIGHTS) THEY CAN THEN REPOSSESS


Can a lender sue for full payment prior to sell of a vehicle that has been repossessed?

Yes they can. The lender loaned money. Period. They can, and will, sue for full payment. They aren't in the car business, they are in the money business, and that's all they are concerned with. Here's how it works: You go to car dealership, and get a car. you sign your name so many times, that you get writer's cramp, and drive away. That is the end of your relationship with the dealership. What they do next is they submit the paperwork to the lender, and the lender sends them the money. Now you only deal with the lender, who has no interest in your car, or whether or not it got sold, broke down, or went off of a cliff.


Where can you get down payment assistance for a home loan that requires twenty percent down?

nobody is going to loan you a down payment - contact family members or save the money yourself


Can a friend loan you money for a down payment on a house?

Yep.


What happens to your down payment in foreclosure?

The money is gone after foreclosure.


Find a House With No Money Down?

If you thought that you could not buy a house with no money down, you would be wrong. There are ways to get around paying a down payment for a house if you know where to look. Find a home that has been on the market for a long period of time. The realtor will sometimes not require a down payment just to get the house sold. Homes that are sold by individuals are more likely to not require a down payment.


Can car dealership keep your down payment after returning the car?

It depends on how the contract was written. It also depends on the laws of the state and the condition of the car when it was purchased.


What if a car is repossessed in error?

Take your papers down to the dealership and discuss it. Unless they picked up the wrong car, it is likely you missed a payment or so.


My hearing aids cost 3000.00 and i have to put two thirds of a down payment. How much money do i have to put down?

Two-thirds of $3,000.00 is $2,000.00. You would have to pay $2,000.00 as the down payment.