Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.
As long as you are in DEFAULT of the contract, the lender can repo the collateral.
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 lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.
As many as your finance agreement specifies.
They can repossess your car if you defaulted on the loan. You knew you owed the money and you knew you didn't receive a payment book. It was your obligation to contact the lender to arrange to make your payments. You should seek the advice of an attorney who may be able to negotiate with the lender on your behalf. Not making your payments for your debt on such a technicality is really dangerous.
Until the LENDER cancels the repo order with the repo company, you are fair game.
Yes. Once the lending agreement is in default the lender may take whatever action they choose in recovering the monies owed. It is a misconception that by making a partial or token payment the creditor will not be able to assert their legal rights. The lender can accept the payment, still repossess the vehicle or pursue litigation.
The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.
Depending on the state of residence, it is possible for a lender to still repossess your car if you get caught up on the payments. Certain states allow a lender to request full payment of an auto loan when borrowers fall behind, even if they have caught up on past due payments.
Yes
Well to put it simply..... YES
You can contact them and sometimes you can work out a deal with them. If not, you can allow them to repossess the car. Contact the lender and they will tell you where to take the car.