Sounds like you are getting into the nitty-gritty of repo...check the codes below...
TITLE STATE: Yes SECURITY INTERESTS: Shown on title, title mailed to debtor, lien-holder record mailed to lien-holder. LICENSE REGISTRATION: The Arizona Department of Transportation, Motor Vehicle Division, 1801 W. Jefferson, Phoenix, Arizona 85007. Tel:(602)255-7011. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Arizona Lien-holder record or out-of-state title, AZ MVD "Affidavit of Repossession/Bill of Sale" form and vehicle inspection if vehicle not previously registered in Arizona. PLATES: As of 01/01/02 - plates now belong to the registered owner of the vehicle. They remain with the debtor. ArizonaRevisedStatutes FormatDocument <a href="http://www.azleg.state.az.us/ars/13/01813.htm ">azleg.state
Sanderson Ford is a car dealership that is located on 6400 N. 51 Avenue in Glendale, Arizona. This dealership carries both new and used Ford cars, trucks and SUV's, and they also carry parts for Ford vehicles. If one needs to have their Ford vehicle serviced, they have a big service department there.
They can take whatever the security for the loan was. For example, if you have an auto loan, they can repossess the auto. If you have a home loan, they can repossess the home. If the loan was a recourse loan and the value of whatever was repossessed was less than the amount still owed on the loan, they can get a deficiency judgment in a court of law. If the court grants a judgment, they can they take other assets.
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