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Can a used car dealer repossess a car with a balance of only 124 dollars if there is a loan on the vehicle from a bank?
Wiki User
∙ 12y ago
IF the dealer is acting as the banks agent(hired to repo), YES.IF you bought the car from that dealer, the dealer may have had "recourse" on the loan, so that he/she had to do the dirty work if you didnt pay. $124.00 is not the main question, how LONG has the $124.00 been in default??
Wiki User
∙ 12y ago
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Can a used car dealer repossess a car that is not in delequent of payment?
No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.
Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?
Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.
Can a car dealer take your car back?
If the dealer holds the lien and is the one that loaned you the money to purchase the vehicle he can repossess the vehicle if you fail to make your payments on time. Otherwise the selling dealer has no claim on the vehicle whatsoever.
If you can not meet payment on a car can you take it back to the dealer?
Returning the vehicle will not relieve you of the responsibility for the debt. Typically your lienholder will sell the vehicle and charge you for the deficiency balance. However, if you cannot pay for the car the lienholder will repossess it and follow the same procedure. Also, unless the dealer provided "in house" financing they probably have no further interest in the vehicle. You are now obligated to pay the bank or finance company. In this case the dealer may not allow you to return it to the lot.
How long does dealer have to ask for car back in Virginia?
Why would a dealer ask for a car back? If you are referring to how long he has to repossess the vehicle after you stop making payments, the answer in most states is immediately.
Can the bank take your car at the dealer if it is in the process of repossession?
The bank can repossess their (not 'your' vehicle until you possess the pink slip) vehicle at any point where it's accessible to them, including places of business.
Can a lien on car you perchused full in cash but dealer has a lien on the car still be reposessed?
If you purchased the car in full with cash then there shouldn't be a lien. Look at your paperwork to make sure it says "Paid In Full" if it does the dealer has no right to repossess a paid in full vehicle. A lien is where you are making payments for a vehicle and the vehicle is being used a collateral until the vehicle is paid off.
If someone bought a car from a used car dealer and they wanted to repossess the car what is the buyers rights?
The buyer has the right to surrender the vehicle before he picks it up. Or pay for it.
Can your car be repo'd by the dealer if you still owe on the downpayment even if your payments are on time to the bank my payoff on my trade was more then what i knew now they are charging me?
If the car is financed through a bank, the bank is the only agency with authority to repossess the vehicle. The dealer, once paid by the bank, no longer has any claim to the vehicle.
Would your car dealer have you locked up for not making payments?
No, they'd repossess your car.
Can a used car dealer repossess a car that is not in delinquent of payment but had late payment history?
Yes
What amount of time must a dealer give you before they repossess your vehicle because you heard it was 90 days?
There is no set time when a lender may instigate repossession action. If the contract is defaulted on for even a day, in most states the lender can seize the vehicle, although it is not usually in their best interest to do so.
