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Can a finance company repo your car if you are current on payments?


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2007-09-02 01:51:45
2007-09-02 01:51:45

No...if you are completely current...and have nothing owing from previous months..again no.


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If you are up-to-date then no, if you are a cosigner there may be complications...

If the car has not been sold you pay the back payments and any fees.BUTThe finance company does not have to allow this.

Your best bet would be to pay your payments to stop the repo and make contact with your finance company.

In Georgia, Has an "endangerment of security" if at any time the finance company fells that there security is in danger they can repo you car. A finance company can repo you car at any time even if you are current if they fell that there security is endanger. Example of Endangerment I have repo for: 1. Past Due Payments 2. You move and don't notify Finance Company 3. Cancelled insurance 4. Threats of destroying the Auto 5. Divorces 6. Threats of Filing Bankruptcy 7. Failed to make a payment on another vehicle that is financed with the same company

It may be alittle tough to find a finance company to finance the vehicle but you should be able to with some cash down.

Not as long as the payments are current and have remained so.

It depends on the locality. In this state, no. A finance company can send out a repo agent at any time if the customer's payments are past due, and the police are not (normally) involved.

There are no Statue of limitations on repossession orders given to repo companies. Payments to the finance company can be squashed easily as going into bankruptcy!

It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.

no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it

Laws vary by state, but typically, yes. If the finance company feels the vehicle is at risk of having a lien put on it by a local or state government entity, they'll take possession of the vehicle, as the right of the government agency to recoup storage and towing costs has priority over the finance company.

Only if they do not have the correct paperwork from the finance company whom has the right to repo the vehicle.

The finance company will be coming to you for payments...even if he has the car. They will send repo men after the vehicle as well. Good luck. Never EVER co-sign for anyone.

It might be possible. Depends on the company and their agreement with the finance company.

NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.

There is no company with the name "Repo Truck", but "repossession" of a vehicle simply means the financial lending company "takes back" the vehicle, because monthly payments on the vehicle have ceased.

Generally, the answer is yes. If you contact the finance company, pay the outstanding payments and cover the repo and storage fees, they will be more than happy to let you continue paying your loan. Finance companies would rather you pay your loan as agreed than have to repo your car, auction it, and come after you for the difference on the note.

state of Michigan automobile the has abandon for two yrs

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No, They would have to be behind on the car payment The above is not always the case. It can depend on what the car was impounded for. If it was impounded for something like drugs where asset forfeiture comes into play then yes the finance company can take the car regardless of payment status. The reason for this is because there are times when the authorities will tell the finance company that if the vehicle is returned to the registered owner the finance company will lose their rights to it as well. The finance company does not have to hand their collateral back to you if it means loss of collateral, it is their car after all.

Finance companies do not ordinarily hire private investigators to repossess a car. They normally hire repo professionals to do that. These folks investigate the whereabouts of the vehicle, identify it, and tow it back to the rightful owner, the rightful owner being the finance company. However, the vehicle is usually towed to a staging lot, usually the repo's business address, and arrangements are made to make up the payments by the buyer, or, repo places a for sale sign on the vehicle.

First you have to find the car, then you can repo it yourself or hire a repo company to do it. Email me if you need more help. Good Luck

No! If this is a threat by the finance company contact a attorney. He/She will advise you what you need to do.

The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.

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