If a car dealership has a lean on your car and you have not made the required payments they may repossess your car.
No. The lienholder is the only entity with a right to repossess.
No, but the finance company can.
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.
The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.
Yes, in both circumstances. When you sign the contract it is pending approved credit. The dealership owns the car and figures it can get you financed by the banks but when that fails to happen the dealership still owns the car. You are just driving till the contract is bought by the bank. The Sales rep can and will get the car because it isn't being reposed. They own it and he is representing them in getting it back. Sorry it happened to you but it does happen out there
I'm not sure what the "dealership did not want" has to do with it but it is always illegal to sell anything that is financed. This is called "Selling of mortgaged property" and I believe is a felony
If you financed your car then it is always owned by the finance company, regardless of if the dealership is in business or not, until you finish paying it off.
A "car dealership" CAN NOT legally repossess a car for any reason unless the are operating as a financial institution (bank/ Lien holder). And they had better be license as a bank if they are. (New York).
If you own the car, sell it to him for $1. That should solve your problems.
Most toyota dealerships off the best car finance deals through their own finanace company. In Dallas Champion Toyota is noted as probably the best dealership to get a car financed through.
Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.
If the dealer ship financed the vehicle, or represents the financing party, such Ford Finance, or GMAC, then yes they can.
If it's in the contract, yes.
No, it is illegal to impersonate someone else in order to repossess a vehicle or another asset. For example: You can't tell the R/O of the vehicle that you're from the dealership and are going to detail the car on their behalf as part of a customer loyalty reward.
you can not return a car with in any amount of time unless the sale was made away from the dealership i.e. at your house if there was fraudulent behavior you might point that out to the dealership thay may be willing to take it back in lue of a legal battle
A dealership can never repo a car, the bank is the party which would because you owe the BANK (aka chase auto finance) because u financed through them.
You will not be able to immediately buy a new car if you are financing it because it will be difficult to get a loan. After some time has passed you should be able to get financed with a higher interest rate.
Can the police repossess your car? Can the police repossess your car?
You can, should, and are legally required to register a financed car.
It depends on:Is the car financed? If it is the finance company will not allow the insurance to be cancelledIs the car likely to be driven or moved by the dealership? if so they must be notified before the insurance is cancelled.Other than that yes it can be cancelled.Warning!Vehicles that are left on the dealership property can be sold as abandoned in as little as 90 days. Is your car still there?
Read the contract. If the second car is connected to the first, yes. Otherwise, not without a judge signing off.
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.
If the dealer doesn't require it, probably not, but you have to decide if you want to take the chance of continuing to make payments on a car that you can't use after an accident.
I dont see why not. The dealership gets their money from the company that financed the car. You arent paying tge dealership, you pay the financial institution. Problem is, if you're behind on payments, that will not help you to get another vehicle.