Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
The owner of a vehicle that has been repossessed, cannot afford to make their payments, so it makes sense that they cannot afford to perform the required scheduled maintenance on the vehicle. This is not always the case but IMO, I would never buy a repossessed vehicle, unless it had extremely low mileage of say less than 20,000 miles.
Absolutely NOT! The vehicle legally belongs to the lien holder and any person who tries to recover said vehicle via self-help can be charged with Grand Theft Auto. NEVER, NEVER, NEVER attempt such an action.
Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first payment default clause.
If you cannot produce a "clean title", you cannot sell or trade the vehicle.
Who cares? Let the lender repo it, then sue 'em. File charges for stealing the car. Really, why would a lender even think they can repo a car that they have NO security interest in? especially if they never loaned any money on the car?
While you are entitled to your personal property that was in the vehicle, the simple fact is that if you can't prove the tools were there you'll probably never see them again.
Most likely not depending on what financial situation you're in.
If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.
When cars are financed, they're usually financed by a bank or some other type of lender. Once the car is repossessed, and the person it's repossessed from fails to recover the vehicle, the vehicle is sold at auction. Dealers attend these auctions, and bid on those cars. Once they've placed a winning bid and paid for the vehicle, it's theirs to sell. Now, if a dealer is the one who financed the car, they'll be the ones to repossess it. Once they've determined the person it was repossessed from isn't recovering the vehicle, they have every right to sell it. Hate to break it to you if this was your car, but it was never yours - so long as there's a lien on that vehicle, the lien holder is the rightful owner of the vehicle. Once they've given up on you reclaiming and making further payments on that vehicle, they can do whatever they want with it - because it belongs to them, and always had, from the moment they became the lienholder.
Not paying is a violation of civil law and you could be brought to collections or the car could be repossessed, but this is not a violation of criminal law. Now the registration is a different story. If you have the vehicle on your property but never drive it on the public roadways then you never have to have it registered, but if you are driving it on the road then you are breaking the law and can be fined for non-registration of a motor vehicle which can be a pretty hefty fine.
Return it to the dealer.
If you are not making the required payments to the finance company that holds the lean on you car it may be repossessed. Proof of income is not required or relevant.
if a vehicle is unlawfully repossesed, you can get the vehicle back, and claim back all monies you have paid, and keep the vehicle without any further payments being made as long as you have proof you were up to date You are never relieved of the responsibility of paying for a vehicle or the lease agreement simply because the vehicle was wrongly repossessed. Leasing companies include many stipulations in contracts, if a payment was even a day late and there was not a grace period included the contract was in default and the vehicle was subject to recovery. The person does not have to accept the vehicle back, but they will in all probability be responsible for the remainder of the lease agreement. Unfortunately many of these type cases that end up in litigation which is expensive, stressful and time consuming for both parties.
If you have never been delinquent or defaulted on your vehicle loan, and it is repossessed, it may have been wrongfully repossessed. It must be returned to you, at no cost to you, ASAP. It is not uncommon for this to occur. So many similar and like vehicles are out there and VIN numbers can be so close that confusion occurs. More often than not it is a simple mistake. Go ahead and ask the lender for a concession due to the inconvience it has caused you. They may give you nothing, but if you are friendly and understanding, they very well may.
I never borrowed against Social Security, so I'd say the answer is "Never."
Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.
As long as the loan for the unit is paid each month, the collateral will never be repo'd.
I've never heard of an insurance policy that covers repossession. Remember, the car doesn't actually belong to you -- it was repossessed because you failed to honor the contract of repayment of the loan to buy it.
If You Have A Clear Title On Them, About Anything You Want. If They Have A Lien On The Titles, It Will Have To Be Removed By Payment Of Loan. Otherwise Contact The Loan Company And Have Them Tell You How To Deal With This In Writing. Be Sure You Get Written Information Before You Do Anything If They Show A Lien.
No. A car is repossessed because you failed to finish paying for it. Since you never fully paid for it, it's not yours. No. You do not own the car once it has been repossessed. To sell the car you would need the title, which is in the hands of the finance company. After a repossession, usually 30 days later the finance company places the car in an auto auction. There it is sold to the highest bidder. In the rare case that the net proceeds from the sale exceed what you owe for the car (plus interest, penalties, repo fee, etc.) the finance company has to send you a check. If you can redeem the car by paying the full past due amount plus interest before they place it in the auction sale, then you can sell the car.
The simple answer is, that if the bank never picked it up it is not repossessed. If you are not making your payments, and really want to give up the vehicle, what a lot of people do is take it back to the bank, and leave it in their parking lot. Be sure to give the bank manager the key and let them know what you are doing. If this is not possible continue to try to call them.
No, Runescape has never had a virus and with their security probably never will.
Repossession letters are not required in every state. In some states, face to face notification of the repossession suffices, and when the driver came to hook up your car, if you had a conversation with him at all (even if it consisted of you yelling "Hey!" and him gesturing to you) you received notice.