Can a finance company repo your car if you are current on payments?
No...if you are completely current...and have nothing owing from previous months..again no.
In Georgia can a car be repossessed if the borrower paid a lump sum to cover arrearages and wants to keep the car and make timely payments but the lender wants the car returned?
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…
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.
Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?
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.
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.
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…
In California does a finance company have the right to repo a car from a police impound when payments are not behind?
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…
What can you do if you sold a car on payments privately and you still have the title and the buyer is hiding and not making payments?
If your son bought an ATV and you cosigned for him and then filed bankruptcy and your son is behind on payments can the repo man come to your home every 48 hours after you told him your son moved out?
As cosigner on the loan you are equally responsible for for payment on the loan. If the lender has hired a repo company to take back the ATV for non payment, then the repo company is going to do everything possible to get it. That includes the frequent visits to your home in an effort to locate the ATV. If you want the repo man off your back, tell him where to find what he…
Your question is too vague. If you are asking what defense do you have against a repo company if your payments are behind and they came and picked up your car without breaking the law, then nothing. If your payments are current and there is no legitimate repossession order, then they stole the car. There are too many variables to answer this question accurately.
Yes. Your willingness to pay it off isn't enough - you need to be able, and be up to date on your payments. Now, if the repo man comes, and you tell him, "look, I have the cash on hand to pay your fees and pay the vehicle off", then he's going to call the finance company and ask how they want to proceed. The finance company would much rather have your money than your…
Is it procedure to have to fill out a new credit application with your current finance company to get the car out of repossession in VA?
Both the finance company such as G.M.A.C. or Ford Motor Credit keep record of the key codes in a folder on the sale. Contact the finance company, get the key codes, go to the selling dealership where the service department can cut the keys for about $5.00. If the vehicle is in default, the finance company should repo it and you could redeem it from them. There are laws that differ from state to state…
Can you be charged a repo and insurance fee when the original owner never notifid you of the repo and drove the vehicle away herself?
I'm not sure what your question/situation is but... The Finance company can do what's called "forced insurance" meaning if you do not have insurance they will put insurance on the vehicle at a hefty cost to you. They can also repossess the vehicle even if you are up to date in payments but do not pay them their insurance rate.... and that money is still owed after the repo.
If your car was repossessed for a payment that the finance company forgot to record are you still responsible for the repo fee?
Cosigning for auto loans i am the primary on my sons auto loan he is behind and I have the title but do not know where the car is how can I get it back?
I do not understand how you can be in posession of the title when the vehicle is financed. The vehicle title is always held by the finance company until all payments are made and the loan balance is paid in full. As for locating the vehicle you will need to talk to your son, or let the finance company repo experts locate it and get it back then.
You have a used car that broke down i month after you got it you want to voluntarily repo the car but the finance company doesnt want it because it doesnt run what can you do you owe 1700 on it?
There is no such thing as a "Voluntary Repo". You borrow money to buy something , you owe the money period. If you turn the item over to the bank or finance company it doesn't take you of the hook. The bank or finance company will auction the car and you will still be responsible for the difference in the amount it sold for and the amount you owed, plus handling and fees. Even then…
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance…
Is it legal for the finance company to call everyone in your family and your friends asking for you and for your car payment if you are late on it and they cant get ahold of you?
How long after a repo does the finance company have to let you know the location of your vehicle and remedy to recover?
(A): "Can you sue the repo man if he takes your truck after you filed bankruptcy?" (B): The answer is "No". The truck is the property of the dealer, or finance company, until your final payment to them is made, and the receiver in bankruptcy may not seize property of which title belongs to a second party (dealer or finance company). Chris