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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??

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โˆ™ 2011-09-12 15:11:44
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Q: 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?
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Related Questions

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.


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.


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.


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


Can a dealer collect on repo unpaid balance?

Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.


Whats is the MSRP?

what is the MSRP on this vehicle what dealer has the vehicle


What is dealer invoice?

Dealer invoice is a term used to describe dealer cost of the vehicle.


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.


If the dealer accepts partial payment can they still repossess your car?

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.


How do you return a purchased used car to a dealer?

depends what you're trying to return it for. if it falls under your local "lemon" laws then you have grounds for a refund of purchase otherwise you're stuck with the vehicle or you can stop paying and they'll come repossess the car.


Can a car dealer repossess vehicle and collect from the signer and cosigner twice?

No. They can only collect the total owed them once. They can repossess your vehicle, sell it for next to nothing, and collect the remainder from you and the co-signer, part from each, or all from one or the other, but not all from both. (If they're smart, they'll just go straight to the co-signer, since the co-signer is presumably creditworthy, and will pay up without much argument. Of course, then you have Dad to deal with!!)


If you have two years left on a leased vehicle but you can no longer afford the payments can you return the car to the dealer?

You will have to pay any balance due after the car is sold and then it ruins your credit.


What do you do if the dealer took my car back for no reason and wont ive me back my Dow paymenT?

A dealer cannot just "take your car back" which is quite simply, "REPOSSESSING THE VEHICLE" for no reason. There would have to be some kind of violation of the terms of sale/payment for them to repossess it, & they would still have to file some kind of legal action or go to a COURT and obtain approval and paperwork authorizing them to repossess the vehicle. If this had been the case, you would have been served notice that you had to appear in court to admit/dispute the dealer's claim, and would have been given the opportunity at that time to work out an agreement with the dealer over the dispute, & the court would have sanctioned either the agreement between you & the dealer, or ruled in favor of you or the dealer. Any way that the court ruled would have been entered as a court ordered judgment and entered in the court records and both parties to that action would have been given a written copy of the ruling. If none of this occurred, and the dealer cannot show written proof that he obtained the legal right to repossess your car, quite simply, the dealer has STOLEN your car. If that is the case, call your local Police Department and file a stolen car report, and give them all the information as to where the vehicle was taken from and if you have spoken to the dealer and know for a fact that they have the car (as in they admitted to you that they took the car) and the car's location.


What are the requirements for getting a Vehicle Dealer License in California?

The requirements for getting a Vehicle Dealer License in California can be found on the DMV website. Some of the linked documents can be found on the website for information. Some of the examples of what is required are the vehicle dealer handbook and the original dealer license forms.


How do you get the airbag light to stop flashing on a 97 Pathfinder?

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Can a creditor repossess a vehicle and sue you for the deficiency then resale the vehicle?

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What is dealer sticker price of a vehicle?

It depends on the dealer and vehicle. Usually the mark ups the dealer add on like special mats, wheels, accessories and market mark up etc...


How long does dealer have to keep insurance on vehicles after bought?

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