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Can a car dealership repossess your car if they say you owe them more money for a down payment?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
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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 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.
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.
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.
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.
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
Can you get a cell phone with no money down payment?
No.
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.
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.
