HomeCan a title company repossess your car if there is another lien for a larger amount against the vehicle?
Wiki User
2015-07-15 18:43:23
2015-07-15 18:43:23
there are PRIMARY liens and SECONDARY liens. Like first come-first served, goes by DATE of lien. READ YOUR CONTRACT. You were NOT as slick as you thot you were.
Related Questions
Yes. The lienholder is the rightful, legal owner of the vehicle, and can take possession of that vehicle anywhere.
If there are no liens against your vehicle, there is nobody who has (or to have) ground to repossess it.
Only if the tags stay with the car in that state.
Is it legal to? NoIs it possible to? NoThe finance company does not have possession of the vehicle so can do nothing with the paperwork on that vehicle until the do secure possess of it.
In Oklahoma, a loan company can repossess a vehicle when it is just 1 payment behind. These companies can also repossess a vehicle at any time of the day or night as long as they do not breach the peace.
YES,its legal in every state.
The bank that you have the loan with hires repo men to repossess the vehicle
A lien means that money is owed on your vehicle. If there is no more money owed, then there is no longer a lien, and the vehicle cannot be repossessed.
Yes, the lender can recover the vehicle any time after the lending contract becomes in default.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
The same way a loan company does, HIRE a REAL repo agency to do the job.
An Authorized Recovery agent working on behalf of the lien holder can repossess the vehicle from the lessee. It is Illegal in the state of Indiana for someone who works for/ at the car lot or for the lien holder to repossess a vehicle under the car lot/ lien holder's company name. The duty of repossessing a car must be hired out to a recovery agency.
Yes. Lenders repossess vehicles in states other than the one they are located in on a regular basis. No prior notice, replevin order or license is needed for a repo agent to take possession of the vehicle.
When you don't pay for it.
Not legally, but if you bought the car from Barney's backyard sales & mower repair, maybe.
They can only repossess the vehicle which was on the loan agreement. Taking any other vehicle is theft.
When a debtor is behind on payments, NC law allows the lender to take possession of, or "repossess" the vehicle. A repo company on behalf of the lender can take the vehicle at anytime, anywhere that the vehicle is found and accessible. If the vehicle is in a locked fence or garage then the repo company cannot force entry to get to the vehicle.
need approval from hair vehicle
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
The average price a bank pays to repossess a vehicle is anywhere from 200.00 to 400.00. The actual price will vary depending on the company and location of the car.
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.
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
No, you dont even need keys to repossess a car in South Carolina
when repo man repossess the car and was in an accident before you can get it back, what happens
If you are up to date with your repayments then the finance company are unable to repossess your vehicle. If you have defaulted on your payments then they are able to repossess the car, the number of missed repayments which qualifies for repossession will be stipulated on the agreement you signed when you first purchased the vehicle.
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